RESEND: Default fund KiwiSavers are getting a raw deal: Milford

Sun, 03 Mar 2019

(Resending and clarifying that the average return in par 4 is for default funds) By Jenny Ruth March 4 (BusinessDesk) - KiwiSavers in default funds are getting a raw deal and the government needs to acknowledge the default fund system doesn’t work, according to Milford Asset Management. Currently, all new employees are automatically enrolled in KiwiSaver, unless they’re already enrolled or actively choose to opt out. If they are enrolled and don’t specify a manager, Inland Revenue assigns their savings to one of nine default funds w...

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