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Growing the KiwiSaver Pie

12 Sep 17 - Financial Services Council : Growing the KiwiSaver Pie A sustainable income policy is critical for New Zealand. As the voice of the financial services industry, and recognising that it has now been ten years since KiwiSaver was launched, we commissioned this research to find out what New Zealanders want from government and the industry.

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Congratulations to the Financial Services Council Award Winners

12 Sep 17 - Financial Services Council Award Winners Rising Star Award – Mark Daniels, Fidelity Life  For an individual who has shown tangible growth and development over the previous 12-months, making a real difference to the industry while early in their career. Innovation Award – Rachael MacDonald, AMP Financial Services NZ  For an individual who has proactively taken the initiative to lift professionalism in the industry by addressing a big industry issue or industry challenge. Shaping the Future Award – Russell Hutchinson, Chatswood Consulting  For an individual who has consistently demonstrated industry leadership, proactively advocating for market change and a future focus. Diversity Award – Ana-Marie Lockyer, ANZ  For an individual who walks the talk when it comes to diversity. A person who is passionate about making a difference on any aspect of diversity both within and beyond the workplace. Congratulations to all the award finalists and winners.

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Many KiwiSaver members don't understand how credits work

12 Sep 17 - Stuff : Each year the Government offers free money. But some people still don't know what it is or how to claim it. A member tax credit (MTC) of $521 is available to all KiwiSaver members, aged 18 to 65,  who contribute at least $1042 into their accounts each financial year. They do not have to do anything else to claim it – KiwiSaver providers handle the process of getting the money into their accounts.

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Labour, National agree on KiwiSaver freedom

12 Sep 17 - Investment News New Zealand : Labour, National agree on KiwiSaver freedom: ​​​​​​​KiwiSaver compulsion – soft or otherwise – appears to be off the mainstream agenda in the latest political cycle with both major parties downplaying the prospect of any substantial changes to the savings regime.

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Navigating Change conference ONLY 20 SPACES LEFT - BOOK NOW!

7 Aug 17 - Financial Services Council and Workplace Savings NZ are pleased to announce that their joint inaugural national conference is selling out quickly... LIMITED SPACES AVAILABLE, SO DON'T DELAY Navigating Change Conference 7-8 September 2017 Hilton Hotel Auckland For booking and more information visit the conference website www.navigatingchange.co.nz

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Financial Services - Event of the Year

7 Aug 17 - Financial Services Council - Media Release: The Financial Services Council and Workplace Savings NZ are delighted to announce a growing list of sponsors for the inaugural Financial Services Council and Workplace Savings NZ national conference – ‘Navigating Change’ on 7 and 8 September 2017 at the Hilton Hotel, Auckland.

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Event: Breakfast Leadership Series 'Sharesies'

4 Aug 17 - Breakfast Leadership Series: the Financial Services Council and Workplace Savings NZ, in association with Women in Super, invite you to the: Breakfast Leadership Series "Sharesies" Auckland: Wednesday, 23 August 2017 (7.15 to 8.45am) Chapman Tripp, Level 35, ANZ Centre, 23 Albert Street, Auckland Wellington: Thursday, 24 August 2017 (7.15 to 8.45am) Chapman Tripp, 10 Customhouse Quay, Wellington

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Milestone day for financial advice in New Zealand

4 Aug 17 - Good Returns: A new bill to replace the Financial Advisers Act was to be introduced on Thursday, Commerce Minister Jacqui Dean announced at the National Advisers Conference.

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Breakfast Leadership Series: Auckland, 23 August and Wellington, 24 August

25 Jul 17 - Breakfast Leadership Series: the Financial Services Council and Workplace Savings NZ, in association with Women in Super, invite you to the: Breakfast Leadership Series "Sharesies" Auckland: Wednesday, 23 August 2017 (7.15 to 8.45am) Chapman Tripp, Level 35, ANZ Centre, 23 Albert Street, Auckland Wellington: Thursday, 24 August 2017 (7.15 to 8.45am) Chapman Tripp, 10 Customhouse Quay, Wellington

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Celebrating success in the financial services industry, we're excited to bring you the industry awards.

21 Jul 17 - Navigating Change Conference 7-8 September 2017 Hilton Hotel Auckland Financial Services Council and Workplace Savings NZ are proud to celebrate success in the financial services industry. In our joint and inaugural national conference, we're excited to bring you the industry awards. This is a great opportunity to celebrate and showcase excellence and give us all a chance to celebrate success, learn from our peers and find ways to deliver great consumer outcomes within the financial services industry. Nominations open for Financial Services Council members and Workplace Savings NZ members. For more information and to submit an award nomination www.navigatingchange.co.nz

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Navigating Change conference ONLY 30 SPACES LEFT - BOOK NOW!

21 Jul 17 - Financial Services Council and Workplace Savings NZ are pleased to announce that their joint inaugural national conference is selling out quickly... LIMITED SPACES AVAILABLE, SO DON'T DELAY Navigating Change Conference 7-8 September 2017 Hilton Hotel Auckland For booking and more information visit the conference website www.navigatingchange.co.nz

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FMA keen to see personalised robo-advice enabled in New Zealand sooner than the law would otherwise allow

21 Jul 17 - Interest.co.nz: By the end of the year, you may be able to plug in information about your financial situation to an approved computer programme, and have personalised advice spouted back out at you. The Financial Markets Authority (FMA) is proposing to use its powers to enable firms to provide personalised robo-advice at least a year before a pending law change is expected to allow this.

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Consumers tell FMA about financial providers’ conduct

21 Jul 17 - Financial Markets Authority: Financial services providers are fair and professional, but have work to do to explain fees and how their products are appropriate, their customers have told the FMA.

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KiwiSaver: Plenty to be proud of but don't pop the Champagne yet

21 Jul 17 - Stuff: OPINION: Ten years ago this month, KiwiSaver was unveiled to the world by a beaming Sir Michael Cullen. As we take time to celebrate its 10th birthday there's a lot to be proud of about the scheme, but a lot needs to be done before it can truly be considered 'world class'. The good is easy to see.

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FMA confirms KiwiSaver fees methodology

21 Jul 17 - Financial Markets Authority: The FMA has confirmed the methodology KiwiSaver scheme providers must use when calculating the dollar amount of fees paid by KiwiSaver investors for annual statements. The FMA wants to ensure providers are calculating fees accurately without burdening them with unnecessary costs and ensuring they have time to comply.

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Get Sorted: The risks we run in our working lives

11 Jul 17 - NZ Herald: Don't you just love it in the movies when some fearless, flinty-faced hero (or perhaps one with a cape and a mask) grunts that there are "worse things than dying"? It's typically the all-or-nothing moment as we head towards a white-knuckle finale.

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Mary Holm: Double your money - and then some

10 Jul 17 - NZ Herald: This week we follow up on last week's column about a survey on how readers have done in KiwiSaver. Many of the respondents made comments about the scheme, so we'll look into some of those this week.

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KiwiSaver key for Rotorua couples in securing first home

10 Jul 17 - NZ Herald: Rotorua's Shannon Carline and Wayne Butler became homeowners at age 22 - a feat only made possible by their KiwiSaver funds.

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Superannuation shortfall still significant for most

10 Jul 17 - Auckland Scoop: The gap between income and expenditure for New Zealand retirees continues to shrink, but rising housing and household utility bills mean most Kiwis’ superannuation payments still don’t cover their costs of living, says a leading personal finance academic.

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FMA seeks feedback on robo-advice exemption

10 Jul 17 - Financial Markets Authority: The FMA is seeking feedback on its proposals to allow entities to provide personalised financial advice generated by a computer programme or algorithm (robo-advice). This would be a temporary measure before new legislation is passed by Parliament.

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What you need to save for a comfy retirement

10 Jul 17 - NZ Herald: A couple who want to live in a major New Zealand city and have a comfortable retirement would need about $486,000 based on the spending of today's retirees, research has found. Westpac Massey University's Fin-Ed Centre has updated its retirement expenditure research which analyses the spending of over 65 year olds based on Statistics New Zealand household economic data.

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Navigating Change Conference, limited spaces available, so don't delay!

10 Jul 17 - Financial Services Council and Workplace Savings NZ are delighted to announce the launch of the updated conference program Navigating Change Conference 7-8 September 2017 Hilton Hotel Auckland LIMITED SPACES AVAILABLE, SO DON'T DELAY Click here for the updated conference brochure For booking and more information visit the conference website www.navigatingchange.co.nz

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Economic growth disappoints in March quarter

15 Jun 17 - NZ Herald: Gross domestic product (GDP) rose just 0.5 per cent in the March 2017 quarter, following an increase of 0.4 per cent in the December 2016 quarter, Statistics NZ said today. That was significantly below the expectations of most economists and the Reserve Bank.

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Get Sorted: KiwiSaver deadline is end of June

15 Jun 17 - New Zealand Herald: Deadlines can bring out our best work. Why is that? There's something about being under the pump that makes us rise to the occasion and simply get it done. We just find a way somehow. This time of year - before June runs out - is the deadline to get the annual $521 from the government into our KiwiSaver accounts. It would be great if we could all look at our situations - and consider those around us who may be missing out on the practically free money. If they're over 18, we might even help them top up their accounts so they get the most they can.

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Government response to review of retirement income policies

15 Jun 17 - New Zealand Government: The Government has today released its response to the Retirement Commissioner’s review on retirement income policies, Commerce and Consumer Affairs Minister Jacqui Dean says.

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Financial Services Council Awards 2017 open now

15 Jun 17 - Financial Services Council: Celebrating success in the financial services industry, we're excited to bring you the industry awards. This is a great opportunity to celebrate and showcase excellence and give us all a chance to celebrate success, learn from our peers and find ways to deliver great consumer outcomes within the financial services industry.

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Financial Services Council June 2017 newsletter

15 Jun 17 - The latest Financial Services Council June 2017 newsletter. 

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Book Now! Early bird registration for Navigating Change conference closes 30 June 2017

9 Jun 17 - Early bird registrations close on 30 June 2017 for the inaugural Financial Services Council and Workplace Savings NZ national conference. Navigating Change  7– 8 September 2017 Hilton Hotel, Auckland

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RBNZ says debt limit of five times income would cut risk of housing crash

9 Jun 17 - NZ Herald:  More than 10,000 house hunters could have their hopes of getting a mortgage dashed if the Reserve Bank were to deploy the debt to income restrictions it is currently seeking to add to its regulatory powers. In a consultation document released today the RBNZ suggests that limiting lending at a debt ratio of five times income could be appropriate if house prices rise sharply.​​​​​​​

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Regulators must evolve or risk hindering fintech growth

9 Jun 17 - Scoop Business : Press Release – Chartered Accountants Australia and New Zealand Financial market regulators need to innovate or run the risk of slowing growth in the global NZ$24 billion technology-based financial services industry, warns a new report by Chartered Accountants Australia and New Zealand.Media release.

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Mark Lister: Financial markets eye three big events this week

9 Jun 17 - NZ Herald: Mark Lister:  Three big events are looming this week -- the British election, an important central bank meeting in Europe, and the testimony of former FBI director James Comey in front of the US Senate. These all have the potential to send financial markets into a spin and knock them off their record-high perch.​​​​​​​

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FMA announces methodology for KiwiSaver fee disclosure

9 Jun 17 - Financial Markets Authority: The Government has recently introduced regulations requiring KiwiSaver providers to disclose fees in dollars in members’ annual statements. The Financial Markets Authority (FMA) has been consulting on a methodology that will assist KiwiSaver providers to understand the requirements of those regulations.

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AIA appoints new boss

9 Jun 17 - Good Returns:  The company has today announced its new executive general manager to replace Natalie Cameron who returned to Australia earlier this year.​​​​​​​

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AIA Joins the Financial Services Council

9 Jun 17 - FSC Media Release: The Financial Services Council announced today that AIA has joined the association, bringing the total number of members to 16 members and 14 Associate members. Financial Services Council Chief Executive Richard Klipin said, ‘We are pleased to welcome back AIA to the Financial Services Council. The Industry is going through rapid change and AIA is an important part of the New Zealand Life insurance landscape.’

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Budget 2017 reflects robust economy and a balanced approach

26 May 17 - Financial Services Council: Budget 2017 reflects New Zealand’s continued robust economy and shows a balanced approach, the Financial Services Council said today. ‘The combination of strong employment, solid financials and a robust economy allows the government to make both strategic and tactical choices,’ said Chief Executive Richard Klipin.

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What Budget 2017 spending promises look like when adjusted for inflation and population growth; Defence, education, health, welfare and law & order to fall; Super costs to rise through 2021

26 May 17 - interest.co.nz: For all that talk of winners in this year's Budget, a deep dive into the numbers coupled with fundamental economic analysis paints a different picture. Those wanting to dig a bit further into the Budget numbers, here are some tools to see how 2017’s numbers compared to previous years, and what levels of spending we’re set to see over the next four.

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Budget 2017: More incentives for middle-class taxpayers needed

26 May 17 - NZ Herald: With the Government in a position of surplus it would be good to see some incentives introduced in this year's Budget, beyond the social investment being targeted in the announcements made to date, says local financial adviser Nick Stewart.

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Licensing overview: what the FMA found and what firms need to know

26 May 17 - Financial Markets Authority: Common issues, hints for new applicants and a guide to the Financial Markets Authority’s (FMA) future focus are included in a review of the regulator’s first two and a half years of licensing.

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The winners and losers of Australia's Budget 2017

17 May 17 - stuff.co.nz: A look at the winners and losers from Australia's 2017 federal budget handed down by Treasurer Scott Morrison on Tuesday May 9, 2017.Australia's treasurer Scott Morrison announced a A$75 billion ($80b plan to build roads, railways and runways across Australia with a budget aimed at boosting growth and the government's flagging poll ratings.

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Rebecca Sellers says conduct by insurers is effectively unregulated and the IMF is calling for some protection for consumers, at least up to Australian levels

17 May 17 - Interest.co.nz: Conduct of business by insurers is in the spotlight. The International Monetary Fund assessment of New Zealand’s financial sector (IMF Report) identified gaps in the regulation of insurance.

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Get Sorted: Why KiwiSaver balances go up... and down

17 May 17 - New Zealand Herald: Quick question: what's the difference between a savings account and a KiwiSaver account? Short answer: when you put money in, the first always goes up, but the other goes up and down. That's no small thing. ​​​​​​​

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The value of forecasting in an uncertain world

17 May 17 - Reserve Bank of New Zealand: Forecasting is a valuable part of the monetary policy process, helping the Bank plan for the future, communicate its current understanding and intentions, and react to unexpected events, Reserve Bank Assistant Governor and Head of Economics Dr John McDermott said today.

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Changes for investment companies offering shares to protect investors

17 May 17 - FMA: Investors will benefit from greater protection due to a change in the way the Financial Markets Authority (FMA) will treat certain companies offering shares. Under the Financial Markets Conduct Act 2013, the FMA is able to designate products based on their economic substance, rather than their legal form.

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KiwiSaver hits $40b, but balances stay low

17 May 17 - New Zealand Herald: Strong investment growth has boosted the value of KiwiSaver to over $40 billion but individual balances remain low for many despite the scheme running for nearly 10 years. Figures from Australian research firm Strategic Insight show total KiwiSaver funds hit $40.651 billion at the end of March, up from $38.416b as of December 31.

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RBNZ: Insurance Industry Update May 2017

11 May 17 - Reserve Bank of New Zealand: The purpose of the Insurance Industry Update is to keep licensed insurers informed of current initiatives and to provide clarification on licensing, supervision, compliance requirements and related matters. The update is prepared by the Reserve Bank’s Insurance Oversight Team. It is not policy or legal advice in itself and should not be interpreted in isolation.

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FMA: KiwiSaver trial to target decision-making a decade out from retirement

11 May 17 - Financial Markets Authority: The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old.

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Diana Clement: More to income protection than just ACC

11 May 17 - New Zealand Herald: Worth seeking advice from financial adviser who specialises in insurance.

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FMA: IMF NZ FSAP Assessment 2017

11 May 17 - Financial Markets Authority: IMF NZ FSAP Assessment 2017. The FMA today welcomes the publication of the International Monetary Fund’s Financial System Stability Assessment (FSSA) for New Zealand.

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PIMCO serves up a dozen reasons why bond investors can’t rest on their benchmarks

1 May 17 - InvestmentNewsNZ: Active management has a proven edge in the bond market, according to a new study by global fixed income giant PIMCO, where almost two-thirds of index-ignorers have outperformed passive peers in the US.

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Willis Towers Watson creeps towards funds management model

1 May 17 - InvestmentNewsNZ: Willis Towers Watson is morphing into a fund manager, just as its main global competitors have done. And it is going to try to do it as a seamless offering in a spectrum of services for big super fund clients. Good luck with that.

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About us

The Financial Services Council (FSC) represents investment and life insurance companies in New Zealand.

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Contact us

Ph: +64 09 985 5762

Email: fsc@fsc.org.nz

Level 33, ANZ Centre,
23-29 Albert Street, Auckland 1010

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