Too many still stuck in default options as KiwiSaver funds top $40B, FMA says

Wed, 04 Oct 2017

By Sophie Boot Oct. 5 (BusinessDesk) - KiwiSaver assets have topped $40 billion as more New Zealanders save for their retirement but the Financial Markets Authority remains concerned about Kiwis' financial literacy and "disappointing" progress in encouraging users out of default funds. The FMA's annual KiwiSaver report shows that for the year to March 31, assets under management rose by $7 billion from $33.8 billion in 2016, with investment returns bouncing back to $2.7 billion, close to 2015's record $3 billion. Still, chief executiv...

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