MBIE’s ‘myopic focus on fees' hurts default KiwiSaver members

Analysis of long-term returns shows high-fee funds have better returns but one passive provider says that is changing fast.

Dan Brunskill

Thu, 16 Dec 2021

A white paper by Morningstar has criticised the government’s selection of default KiwiSaver providers for having a short-sighted focus on fees that is not supported by evidence.KiwiSaver members who do not choose a provider are invested in one of the government-appointed default providers, which are chosen every seven years by the Ministry of Business, Innovation and Employment (MBIE).The most recent round of changes – announced in May this year – were the biggest shakeup of the $87 billion scheme since it began in 2007, analy...

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Property

Giltrap Group founder, philanthropist Sir Colin Giltrap dies

Giltrap died last night at the age of 84.

Staff reporters 10:05am

The Quiz Free

QuiznessDesk: Thursday, April 18

Can you answer all ten questions correctly?

The Quizmaster 9:15am

Technology

AJ Hackett Bungy spins out tech startup EpicShot

EpicShot uses iPhones and specialised apps to shoot pics and film of customers.

Ben Moore 9:00am

AJ Hackett Bungy spins out tech startup EpicShot

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts

Sponsored

Building confidence and capability is the key to boosting productivity

In the pack houses of Hawke’s Bay apple growers, smart cameras scan the apples looking for blemishes and grading the fruit to ensure only the best is selected for domestic and international markets.

ASB