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Retirement

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New Zealand’s trillion dollar KiwiSaver challenge - report Kiwisaver 2050

10 Sep 19 - The Financial Services Council (FSC) has today released a new discussion paper, KiwiSaver 2050: Pathways to the Future, aimed at kickstarting a conversation about how New Zealand can make the most of the nearly trillion dollar opportunity that KiwiSaver will present in 2050 and beyond.

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2019 Conference Programme Released - Towards Wellbeing

15 Aug 19 - With a month to go until the Financial Services Council’s (FSC) flagship conference and key event for the financial services industry, the 2019 Towards Wellbeing programme launched today.

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KiwiSaver Pie grows to $58.53bn, average balance grows to $19,246

13 May 19 - Latest figures published today show that KiwiSaver assets have grown to nearly $58.53bn. Over the last quarter (to the end of March 2019), the KiwiSaver pool has grown $1.26bn, 16.5% over the past year.

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2019 FSC and WSNZ Annual Conference Launched

12 Feb 19 - The 2019 Financial Services Council and Workplace Savings NZ annual conference has been launched today as Super Earlybird tickets go on sale for one of the industry’s flagship events.

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KiwiSaver, The Future of Tax and Code of Conduct submissions

14 Nov 18 - The Financial Services Council has recently provided submissions to the New Zealand Government in three areas over the past week.

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Videos from Shaping Futures 2018 Launched on YouTube

20 Sep 18 - The Financial Services Council has published videos of the 2018 Shaping Futures National Conference on YouTube. Catch-up on the Regulator sessions and big issues panel discussions, and watch Jazz Thornton from The Voices of Hope Charity deliver an inspirational closing session.

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FSC launches KiwiSaver Research Recommendations

6 Sep 18 - The Financial Services Council has today released a new report, ‘Shaping Futures: Closing the KiwiSaver Gap’, which sends a clear message to government, industry and consumers that combined action is needed to close the KiwiSaver gap in New Zealand. The report is based on three significant pieces of research commissioned by the FSC with responses from over 2,100 New Zealanders and carried out by Horizon Research –‘Generation KiwiSaver’, ‘Growing the KiwiSaver Pie’, and ‘Great Expectations – Retirement Realities for Older New Zealanders’.

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Financial Services Council launches new Code of Conduct

5 Sep 18 - On the eve of its national conference, the Financial Services Council (FSC) has launched a new set of standards and guidance for its members, the FSC Code of Conduct. Developed over two years by FSC members, the Code of Conduct is designed to build the professionalism of the industry by reinforcing the need for good conduct and a strong consumer-focussed culture. As a living code, FSC members will work to develop best practice and guidance for the Code’s nine standards, which fall into three core objectives covering ethical, communication and consumer outcomes. It will come into force on 1 January 2019.

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Keep up-to-date and 5 Fast Facts

30 Aug 18 - Check-us out on twitter @FSC__NZ to keep up-to-date during and after conference, and read our Five Fast Facts about Shaping Futures 2018. Registration closes on 31 August at shapingfutures.co.nz, and there are just a few spaces left.

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New for 2018: Pre-reading for the Conference Workstreams

23 Aug 18 - It’s always great when we get healthy debates at the conference, so, new for 2018, please find links to insight, providing national and global perspectives for each of the three Workstreams at Shaping Futures.

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Only 25 spaces left for the Shaping Futures National Conference! New for 2018 - check out Tech Alley

17 Aug 18 - This year we are launching Tech Alley at the Shaping Futures National Conference. This initiative will showcase the best of NZ FinTech, InsurTech, EduTech and RegTech. Some will be pitching their products at a new ‘Pitch Perfect’ Breakfast Masterclass on Thursday 6 September, with the winner taking to the main platform for a 10-minute spotlight session later in the day. ​​​​​​​You can register to attend this breakfast by clicking here. This is included as part of your conference ticket. Proudly sponsored by Minter Ellison Rudd Watts 

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Voices of Hope: Shaping Futures National Conference Charity Partner, 2018

14 Aug 18 - With less than a month to go until the industry National Conference this year, Shaping Futures, on 6/7th September 2018, the Financial Services Council (FSC) and Workplace Savings NZ (WSNZ) are proud to support Voices of Hope as the charity partner for the event. The charity was founded in 2014 by Genevieve Mora and Jazz Thornton, both being mental illness survivors. The aim is to provide hope for those struggling with mental health issues by promoting mental well-being, empowerment and recovery. Voices of Hope are running four key campaigns, #EATINGDISORDERS, #CHOOSETOFIGHT, #ITSNOTWEAKTOSPEAK and #ICHOOSEHOPE. There are a wealth of resources, stories and videos to help those concerned about mental health for themselves or those around them at thevoicesofhope.org. We will be fundraising for the charity throughout the conference, or you can donate now at givealittle.co.nz/org/voices-of-hope. For more information about Voices of Hope see thevoicesofhope.org and the conference at shapingfutures.co.nz.

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Don't miss out on the professional development event of the year! 34 days to go.

2 Aug 18 - Join us next month for the Financial Services event of the year! One conference across two days, with over 60 speakers, this event is not to be missed! The Financial Services Council and Workplace Savings NZ are co-hosting this annual conference. Shaping Futures conference 6-7 September 2018 Pullman Hotel, Auckland Only 5 weeks to go , so register today! For programme details and to register visit the Shaping Futures website www.shapingfutures.co.nz

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Financial Services Council research delivers a wake-up call for Generation KiwiSaver

4 Jul 18 - Younger New Zealanders are increasingly reliant on KiwiSaver as their main source of income when planning for retirement and that means a wake-up call when it comes to financial planning, according to new research commissioned by the Financial Services Council (FSC).

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Entries are now open for the Financial Services Council Awards and the Workplace Savings NZ awards!

25 Jun 18 - Celebrating good consumer outcomes and industry conduct, the annual Financial Services Council and Workplace Savings NZ awards showcase excellence in the financial services industry, aiming to inspire innovation and change. The Financial Services Council awards celebrate individuals who are truly making a difference for the financial services industry and the broader NZ community: Rising Star Award Innovation Award Shaping the Future Award Diversity Award The Workplace Savings NZ awards showcase communications that are driving better consumer outcomes.  Product Disclosure (PDS) of the Year Award Most Innovative Communication Award Best Overall KiwiSaver Member Experience Award Excellence in Communication Award Join us at the Gala Dinner to recognise those who are leaders in our changing industry, and to learn how we can all make a difference. For more information and to enter/nominate visit www.shapingfutures.co.nz 

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Advice at the Crossroads breakfast event - Tuesday, 26 June 2018

21 Jun 18 - Financial Services Council (FSC) is proud to present their upcoming breakfast event, Advice at the Crossroads on Tuesday, 26 June 2018. A few tickets remain.Book now to secure a place.

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Book Now! Early bird registration for Shaping Futures conference closes 30 June 2018

21 Jun 18 - Just over a week until the Shaping Futures conference earlybird specials expire on 30 June 2018, Book now and save. Avoid disappointment and book your tickets today!

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New survey shows KiwiSavers back Responsible Investment

6 Dec 17 - Business Scope: Westpac Press Release: Almost half of KiwiSavers want to know more about where their funds are invested and two out of five prefer to have their money in companies making a positive difference, according to new research by Westpac NZ. The findings come as the bank puts in place …

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Retirees rely on state pension as savings run out

6 Dec 17 - NZ Herald: Most retirees will use up their savings in just 10 years and rely solely on the state pension after that, a new research suggests.

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Great Expectations: Retirement realities for older New Zealanders

6 Dec 17 - Since 2010 the Financial Services Council (FSC) has been researching what it is like, and what it could be like, for New Zealanders when they retire: what wealth they have, how they could build it further to live comfortably in retirement. This is the second of three 2017 commissioned pieces of research seeking to understand Kiwis’ attitudes to retirement savings.

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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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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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The Financial Services Council is a non-profit member organisation and the voice of the financial services sector in New Zealand. Learn more
     

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