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Retirement

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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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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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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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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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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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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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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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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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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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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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NZ QROPS options shrink as minor players exit

1 May 17 - InvestmentNewsNZ: The rats and mice are deserting the UK pension transfer ship with two minor NZ-registered players cut from the latest official list.

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One in three Kiwis have no money plan for retirement

28 Apr 17 - NZ Herald: Young people were the least likely to have a money plan, but even among older people, only 41 per cent knew how much they would need for retirement.

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Want to live til you're 90? Better live like a life insurer

24 Apr 17 - Stuff: The life and health insurance industry used to be an unhealthy industry to work in. Long hours, a drinking culture, and socialising with insurance advisers took its toll on the waistlines and fitness of the male-dominated industry.

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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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The Bill for HIdden Private Equity Fees: $4bn

17 Apr 17 - Institutional Investor: As public pension plans in the U.S. increasingly invest in private equity and other alternatives, funds may be paying more than $4 billion annually in unreported fees, according to Pew Charitable Trusts.

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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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John Roughan: Tampering with superannuation has done National no harm

17 Apr 17 - NZ Herald: Despite its timidity (an increase of two years starting 20 years hence) the decision was predicted by most commentators to be a political mistake, an "own-goal", a gift to Winston Peters in election year.

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Getting to Know: Rod Severn

17 Apr 17 - Goodreturns.co.nz: "I am Rod Severn and I am the CEO of the Professional Advisers Association. We represent members in the Risk, Mortgage and Investment advice sectors of the industry."

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Forum: Retirement Policy in an Age of Uncertainty

12 Apr 17 - Retirement Policy and Research Centre forum: Two overseas experts will bring an international perspective to the forum and outline the best-practice thinking on future uncertainties in Australia, US, UK and Ireland.

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NZ the lucky country when it comes to superannuation

10 Apr 17 - NBR: CPA Australia chief executive Alex Malley says the heated discussion about superannuation - age of entitlement, generational fairness, gender equity - is a good one for New Zealand to have now.

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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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Get a grip on the uncertainties of retirement

7 Apr 17 - Stuff: " At some point in your life you will stop working. Hopefully, it will be at a time of your choice rather than through illness or lack of employment opportunities," writes Liz Koh. 

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John Mauldin takes a look at some data on retirement savings

7 Apr 17 - Interest.co.nz: John Mauldin takes a look at some data on retirement savings – or lack thereof. “The trouble with retirement is you never get a day off.”– Abe Lemons.

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Adrian Orr: NZ Super - Debunking common myths

5 Apr 17 - NZ Herald: "Recent public comments illustrate that many people don't understand what the New Zealand Super Fund is and what it does, and the role of The Treasury."

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FMA's Colmar Brunton research

5 Apr 17 - FMA: The FMA commissioned Colmar Brunton to survey New Zealanders aged between 60 and 74 years, to find out their experiences of retirement and how information or advice has helped them manage their retirement savings. 

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Economist Bill Rosenberg runs the ruler over NZ Super cost predictions

5 Apr 17 - Interest.co.nz: Economist Bill Rosenberg runs the ruler over NZ Super cost predictions, and argues it's not as scary as we've been told; Calls for a proper debate on population policy.

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Forum: Retirement Policy in an Age of Uncertainty

31 Mar 17 - There is much concern here and abroad about what the future holds for retirement policy. Brexit and the Trump election have profound implications for what is happening in the Ireland, England and the US. Australia has its own set of uncertainties and is in the midst of farreaching reform. 

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New checklist devised for people considering moving to retirement villages

29 Mar 17 - Stuff.co.nz: The Retirement Villages Association has issued a checklist to help people considering moving into a retirement home.

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Growing KiwiSaver balances mean people can't put off writing a Will

29 Mar 17 - Stuff.co.nz: Growing KiwiSaver balances could spell trouble for New Zealanders who do not have a will.It is estimated that more than half of all New Zealanders over the age of 18 have not yet drafted one.

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Many Kiwis have no idea how much income they need to retire

29 Mar 17 - Stuff.co.nz: KiwiSaver provider Kiwi Wealth found something odd when developing online tools to help people work out how much to save to get the retirement they want.

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Four KiwiSaver schemes yet to ditch weapons investments

27 Mar 17 - Radio New Zealand: Some KiwiSaver funds are still investing in banned weapons despite making promises to get rid of the holdings.

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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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