KiwiSaver replacement therapy: looking for an alternative high

People are interesting but it’s money that matters with the net transfer figures generally reflecting the member-shifting behaviour. (Image: Getty)

David Chaplin

Wed, 18 Aug 2021

The big Australian-owned KiwiSaver providers have been suffering withdrawal symptoms of late.It’s not an entirely new phenomenon, schemes owned by Australian-headquartered organisations have been slowly bleeding market share to local providers for a few years.However, the transfusion rate picked up pace during the 12 months to March 31 this year with all four of the big-Aussie providers – AMP, ANZ, Westpac and ASB – reporting net declines in both member numbers and in fund outflows to rivals.This is the first time in the 14-ye...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

RBNZ opens consultation on central bank digital currency

Protecting monetary sovereignty is a key factor.

Rebecca Howard 6:00am

Primary Sector

Warning to NZ primary sector: avoid 'commoditised B2B'

Speaking at an event about food and fibre, the former Unilever CEO did not mince words.

Dileepa Fonseka 5:00am

Warning to NZ primary sector: avoid 'commoditised B2B'

Policy

Business of Government: who benefits from restructuring, and more ...

Jem Traylen 5:00am

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