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Savings

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FMA KiwiSaver Annual Report 2017

17 Oct 17 - FINANCIAL MARKET AUTHORITY: The 2017 KiwiSaver Annual Report outlines the continued growth of KiwiSaver, as well as our push to make sure members have the resources for making the best decisions about their investment.

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KiwiSavers' tax bill equal to property investors', tax expert says

17 Oct 17 - STUFF: KiwiSaver members copped a $166 million tax bill on their $40 billion in investments over the past year – and it's being held up as an example of New Zealand's unfair tax system.

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FMA warning: Woman loses $7k in online trading scheme

2 Oct 17 - New Zealand Herald: A Bay of Plenty woman has been left $7000 out of pocket after she invested money in a scheme advertising itself as "make easy money from home".

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Navigating Change conference an outstanding success!

12 Sep 17 - The joint Financial Services Council and Workplace Savings NZ, Navigating Change conference was a sell-out success.

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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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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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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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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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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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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 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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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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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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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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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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BT/Westpac funds clean-up sees off Vanguard…

1 May 17 - InvestmentnewsNZ: Westpac KiwiSaver has dropped Vanguard as global equities manager for its default fund in the first phase of an across-the-board ethical-cleansing at its investment management division.

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Growing divide in risk profile hits KiwiSaver returns, MJW survey

24 Apr 17 - InvestmentNewsNZ: Divergent asset allocations have come to the fore again in the KiwiSaver market with Milford Asset Management producing stand-out results – at both ends of the scale, the latest Melville Jessup Weaver (MJW) quarterly investment survey shows.

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Australian banks cut sales targets, NZ expected to follow

24 Apr 17 - Stuff.co.nz: The Australian parents of New Zealand's big four banks are pledging to overhaul the bonus structure paid to their staff.

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Why not change the tax on retirement savings?

21 Apr 17 - Otago University research:  Instead of taxing housing harder, why not change the tax on retirement savings?  This paper provides an analysis of how the New Zealand tax system may be affecting residential property markets. 

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NZ Super Fund performance report for March 2017

21 Apr 17 - The New Zealand Superannuation Fund has released its performance and portfolio report for March 2017.

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Statistics New Zealand private super research released

21 Apr 17 - This article by Statistics New Zealand looks at private superannuation, one of the ways wealth is distributed in New Zealand.

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David Simmers: Less super for the rich?

19 Apr 17 - Stuff.co.nz: OPINION: The current debate about superannuation seems to focus solely on the age of eligibility. This is disappointing; the equally important question of how to limit the amount paid to those who do not need state assistance is largely ignored.

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America has a retirement problem, not a saving problem

19 Apr 17 - The Economist: HOUSE Resolution 67, which Donald Trump signed last week, rolls back a rule that the Labor Department finalised late last year, which would have made it easier for cities and counties to run retirement savings plans for citizens who couldn’t get them through work. 

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A Scary Percentage of Retirees Blow Through Their Workplace Savings When They Take a Lump Sum

17 Apr 17 - Yahoo! Finance: A lump sum payment from a pension or 401(k) may sound appealing, but one in five Americans deplete the money in 5.5 years, a study shows.

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Aussie retirees dip into super

17 Apr 17 - News.com.au: A growing number of retirees are dipping into their super savings to pay off debt or fund holidays.

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Are investors better off when investing with “superstar” fund managers?

13 Apr 17 - Otago University: You may think that when a fund manager wins a performance award, the investment fund they manage would fare even better, but University of Otago Business School accountancy and finance researcher Dr Eric Tan has found this isn’t necessarily the case.

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FMA launches consultation on KiwiSaver fees methodology

12 Apr 17 - The FMA is consulting on how those fees should be calculated and disclosed. Deadline for submissions is 5 May 2017.

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Anglican scheme looks for ethical uplift

10 Apr 17 - InvestmentNewsNZ: The rising demand for socially responsible investment (SRI) options has sparked renewed interest in niche ‘ethical’ funds, according to Anglican Pension Board general manager, Mark Wilcox.

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The mid-50s savings dash

10 Apr 17 - Stuff.co.nz: The mid to late-50s savings sprint is our chosen way to get a retirement nest egg. Survey data released by the Financial Markets Authority on Wednesday revealed confidence of a decent retirement was highest among people who sought retirement savings advice and information ten or more years before retirement.

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ANZ keen to keep KiwiSaver business

10 Apr 17 - Interest.co.nz: When the ANZ Banking Group gets around to "considering" the future of its New Zealand wealth unit, one thing it won't be doing is selling its KiwiSaver business, CEO Shayne Elliott says.

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About us

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

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Services

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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