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blog http://www.workplacesavings.org.nz/news-2/ Labour in Super Fund u-turn http://www.workplacesavings.org.nz/labour-in-super-fund-u-turn/ Labour is scrapping its plans to resume contributions to the Super Fund, saying New Zealanders told the party they were uncomfortable with borrowing to invest and it now understands the need to be thrifty. Thu, 03 May 2012 10:00:00 -0500 http://www.workplacesavings.org.nz/labour-in-super-fund-u-turn/ KiwiSaver's first retirees may withdraw funds http://www.workplacesavings.org.nz/kiwisaver-s-first-retirees-may-withdraw-funds/ Kiwisavers turning 65 should be able to set up free regular payments to supplement their incomes when the first retirees become eligible in July, says Workplace Savings NZ. Mon, 30 Apr 2012 23:31:27 -0500 http://www.workplacesavings.org.nz/kiwisaver-s-first-retirees-may-withdraw-funds/ Submission on the Financial Markets Conduct Bill http://www.workplacesavings.org.nz/submission-on-the-financial-markets-conduct-bill-2/ Read our submission on the Financial Markets Conduct Bill here.
 Thu, 26 Apr 2012 16:00:00 -0500 http://www.workplacesavings.org.nz/submission-on-the-financial-markets-conduct-bill-2/ Hard-up workers raiding KiwiSaver http://www.workplacesavings.org.nz/hard-up-workers-raiding-kiwisaver/ An increasing number of people are raiding their KiwiSaver funds because of financial hardship, budgeting experts say.
 
 Wed, 18 Apr 2012 16:29:32 -0500 http://www.workplacesavings.org.nz/hard-up-workers-raiding-kiwisaver/ New approach to retirement planning http://www.workplacesavings.org.nz/new-approach-to-retirement-planning/ Many people have no idea of the costs of retirement and are ill-prepared for it, according to a group promoting financial education.&nbsp; But trying to &quot;scare the pants off&quot; people into saving for the retirement has simply not worked, according to Retirement Commissioner Diana Crossan. Thu, 15 Mar 2012 09:56:38 -0500 http://www.workplacesavings.org.nz/new-approach-to-retirement-planning/ The real cost of living in retirement http://www.workplacesavings.org.nz/the-real-cost-of-living-in-retirement/ New research being sponsored by Workplace Savings NZ will show the real costs being faced by current retirees and highlight what is needed for retirement lifestyles in New Zealand.The survey is being carried out in conjunction with the <a href="http://nzcpfe.massey.ac.nz/" target="_blank" title="Link to NZCPFE website">Centre for Personal Financial Education</a> (NZCPFE), and aims to produce expenditure data for 'modest' and 'comfortable' retirement lifestyles.Workplace Savings chair David Ireland says as a nation we have long debated the question of how much savings is enough, and KiwiSaver was launched to help Kiwis save.&quot;But the fact remains that many New Zealanders have no idea of the real cost of retirement, and are not prepared for it.&quot;&quot;The survey aims to tap into the knowledge of existing retirees in assessing the gap between their income and current spending patterns,&quot; he says. New Zealand Super will deliver a single retiree $339 per week (after tax) and a couple $522 (after tax). &quot;We want to create meaningful information that will help individuals who are wondering how much will be enough when it comes to their own retirement savings.&quot;We think everyday investors will benefit from knowing how much it actually costs to live in retirement. Only then can they see what sort of retirement life-style the combination of NZ Super and their private savings will produce for them,&quot; he says.Mr Ireland says a similar in-depth survey in Australia has been published for some time by the Association of Superannuation Funds of Australia (ASFA).&quot;Our research will benchmark current retirement expenses in New Zealand. People in the workforce planning for their own retirement can use that benchmark to assess the adequacy of their own wealth accumulation plans. &quot;We are very excited about this research initiative. Amongst other things, it should provide a powerful discussion tool for financial advisers helping investors plan their retirement savings goals,&quot; says Mr Ireland. Workplace Savings NZ is planning to launch the inaugural research findings at its national conference in Auckland on 16-17 August. For further information:<table border="0" style="border-color: #ffffff; border-width: 0pt; border-style: solid"><tbody><tr><td style="border-color: #ffffff; border-style: solid; border-width: 1px">Bruce Kerr Executive Director Workplace Savings NZ Ph: (027) 284 0481&nbsp;&nbsp;&nbsp; </td><td style="border-color: #ffffff; border-style: solid; border-width: 1px">&nbsp;&nbsp; </td><td style="border-color: #ffffff; border-style: solid; border-width: 1px">David Ireland Chairman Workplace Savings NZ Ph: (021) 343 615</td></tr></tbody></table> Note to editors:<ol><li>Workplace Savings NZ is the voice of workplace savings in New Zealand. It is a national, not-for-profit, apolitical membership organisation whose mission is to advance the sustainable, effective, and efficient delivery of workplace savings outcomes for all involved. Workplace Savings NZ members manage or advise on the bulk of the $25 billion in workplace retirement savings assets (as at September 2011). </li><li>The Centre for Personal Financial Education is a partnership between Westpac New Zealand and Massey University. </li><li>Modest vs Comfortable retirement lifestyle:</li></ol>Modest retirement lifestyle - Better than the NZ Super, but still only able to afford fairly basic activities.Comfortable retirement lifestyle - Enabling an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel. Wed, 14 Mar 2012 10:34:42 -0500 http://www.workplacesavings.org.nz/the-real-cost-of-living-in-retirement/ Govt dispute resolution scheme in the gun http://www.workplacesavings.org.nz/govt-dispute-resolution-scheme-in-the-gun/ The government's Financial Dispute Resolution (FDR) scheme is under fire, with critics saying it shouldn't be subsidised to compete against private operators. &nbsp; Thu, 09 Feb 2012 11:09:10 -0600 http://www.workplacesavings.org.nz/govt-dispute-resolution-scheme-in-the-gun/ Gareth Morgan: GMI sale 'to benefit charity' http://www.workplacesavings.org.nz/gareth-morgan-gmi-sale-to-benefit-charity/ New Zealand economist and philanthropist Gareth Morgan will pump the proceeds from the sale of his $1.5billion funds management company to Kiwibank back into charity.&nbsp; Fri, 20 Jan 2012 10:35:31 -0600 http://www.workplacesavings.org.nz/gareth-morgan-gmi-sale-to-benefit-charity/ Kiwibank buys GMI http://www.workplacesavings.org.nz/kiwibank-buys-gmi/ State-owned lender Kiwibank has struck a deal to purchase Gareth Morgan Investments (GMI), including its KiwiSaver Scheme. Wed, 18 Jan 2012 11:34:47 -0600 http://www.workplacesavings.org.nz/kiwibank-buys-gmi/ $300m KiwiSaver plan 'adds little to savings' http://www.workplacesavings.org.nz/300m-kiwisaver-plan-adds-little-to-savings/ A Treasury report to Finance Minister Bill English reveals officials doubted whether a $300 million one-off auto-enrolment in KiwiSaver would deliver a worthwhile boost to national savings. Treasury initially advised against the Government's plan because of the small impact it would have on savings. &nbsp; Mon, 16 Jan 2012 09:57:00 -0600 http://www.workplacesavings.org.nz/300m-kiwisaver-plan-adds-little-to-savings/ Jargonbusters bring financial world to heel http://www.workplacesavings.org.nz/jargonbusters-bring-financial-world-to-heel/ As anyone who has ever battled with an impenetrable wall of financial gobbledygook knows, deciphering such twaddle can often cause rising blood pressure and much tearing of hair. Tue, 10 Jan 2012 15:49:21 -0600 http://www.workplacesavings.org.nz/jargonbusters-bring-financial-world-to-heel/ AMP NZ and Gareth Morgan Investments share the stage for superior communications http://www.workplacesavings.org.nz/amp-nz-and-gareth-morgan-investments-share-the-stage-for-superior-communications/ AMP NZ and Gareth Morgan Investments took top honours at the Workplace Savings NZ Communication Awards. &nbsp; Tue, 13 Dec 2011 15:05:28 -0600 http://www.workplacesavings.org.nz/amp-nz-and-gareth-morgan-investments-share-the-stage-for-superior-communications/ KiwiSaver fund rankings released http://www.workplacesavings.org.nz/kiwisaver-fund-rankings-released/ The first independent research to look past headline returns and try to predict the future prospects of KiwiSaver nest eggs concluded the big funds offered ''pretty good'' value for money. &nbsp; &nbsp; Tue, 13 Dec 2011 09:18:33 -0600 http://www.workplacesavings.org.nz/kiwisaver-fund-rankings-released/ AMP Services (N.Z) Ltd takes top savings award http://www.workplacesavings.org.nz/amp-services-n-z-ltd-takes-top-savings-award/  AMP Services (N.Z) Limited and Gareth Morgan Investments were the big winners at last night's 2011 Workplace Savings NZ Communication Awards held in Wellington.&nbsp; <a href="http://www.workplacesavings.org.nz/assets/Communication-Awards/Comms-Awards-release-9-Dec-2011.pdf" target="_blank">Read more here</a>.&nbsp; &nbsp; Fri, 09 Dec 2011 12:23:35 -0600 http://www.workplacesavings.org.nz/amp-services-n-z-ltd-takes-top-savings-award/ Prospectus extension certificates http://www.workplacesavings.org.nz/prospectus-extension-certificates/  FMA has decided to grant an extension to liquid collective investment schemes so that they can register a prospectus extension certificate to extend the life of a scheme prospectus notwithstanding certain material adverse changes in the financial position of that scheme.&nbsp; For more information <a href="http://www.workplacesavings.org.nz/assets/Submissions---PDFs/2011-Submissions/SKMBTC45011120610080.pdf" target="_blank">click here</a>.&nbsp; Tue, 06 Dec 2011 12:36:53 -0600 http://www.workplacesavings.org.nz/prospectus-extension-certificates/ NZ Investment Governance Survey 2011 - Report http://www.workplacesavings.org.nz/nz-investment-governance-survey-2011-report/ Russell Investments, with the support of Workplace Savings NZ, has surveyed the investment governance structures of a representative sample of 29 superannuation schemes. The results of the inaugural survey are now available - <a title="Download PDF of Russell Investments Governance Survey 2011 report" href="http://www.workplacesavings.org.nz/assets/Past-Breakfast-Presentations/New-Zealand-Investment-Governance-Survey-Rpt-2011-final.pdf" target="_blank">click here to download a copy of this report.</a> Mon, 28 Nov 2011 15:23:01 -0600 http://www.workplacesavings.org.nz/nz-investment-governance-survey-2011-report/ Saving us from super suffering http://www.workplacesavings.org.nz/saving-us-from-super-suffering/ Workplace Savings New Zealand head Bruce Kerr calls the day all workers join KiwiSaver &quot;miracle day&quot;. &nbsp; Sat, 19 Nov 2011 11:30:16 -0600 http://www.workplacesavings.org.nz/saving-us-from-super-suffering/ Make Kiwisaver compulsory: CEOs http://www.workplacesavings.org.nz/make-kiwisaver-compulsory-ceos/ A big majority of chief executives want KiwiSaver made compulsory.&nbsp; Seventy-seven per cent of respondents to the Herald's CEO survey are in favour of compulsion, which is a key Labour Party election plank. Thu, 17 Nov 2011 15:18:01 -0600 http://www.workplacesavings.org.nz/make-kiwisaver-compulsory-ceos/ Political tinkering a hurdle for savers http://www.workplacesavings.org.nz/political-tinkering-a-hurdle-for-savers-2/ This election will be the second held since KiwiSaver's inception in 2007, and once again the scheme has become a political football.&nbsp; As voters prepare to head to the polling stations on November 26, three major parties have some very different ideas about where the government savings programme should be heading.&nbsp; Mon, 14 Nov 2011 12:30:32 -0600 http://www.workplacesavings.org.nz/political-tinkering-a-hurdle-for-savers-2/ Greens say they can lower KiwiSaver fees 40% http://www.workplacesavings.org.nz/greens-say-they-can-lower-kiwisaver-fees-4/ The Green Party&rsquo;s plan to encouraging savings by reducing the high costs of saving.&nbsp; Mon, 07 Nov 2011 09:02:02 -0600 http://www.workplacesavings.org.nz/greens-say-they-can-lower-kiwisaver-fees-4/