KiwiSaver provider owned by New Zealand Stock Exchange outed as biggest nuclear investor
17 Mar, 2021 04:00 PM
5 minutes to read
A KiwiSaver scheme run by the New Zealand stock exchange has the highest amount of money invested in companies involved in nuclear weapons across the KiwiSaver market. Research by ethical investment platform Mindful Money found KiwiSaver schemes had a total of $52 million invested in nuclear weapon makers, out of around $71 billion invested as of the end of September.
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SuperLife and Smartshares are both businesses owned and run by the New Zealand Stock Exchange.
Coates said the NZX had taken a number of initiatives to recognise the growing importance of ethical investment, including highlighting green bond offerings and joining the network of Sustainable Stock Exchanges.
IRD to pay millions in compo for delayed KiwiSaver transfers
19 Feb, 2021 04:32 AM
3 minutes to read
The Inland Revenue Department is to pay millions of dollars to compensate more than 640,000 KiwiSaver members whose employer contributions were delayed in getting to their providers. The problems were caused when the IRD moved KiwiSaver to a new technology platform in April last year and there was a delay in passing on some employer contributions to people s KiwiSaver accounts.
IRD will pay out just over $6.6m, an average of just over $10 per person.
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As part of the switchover on April 17, IRD decided to hold some KiwiSaver contributions for review to ensure the correct amounts were going through to member accounts.
Covid warning: Extended lockdown could push KiwiSaver hardship claims higher
16 Feb, 2021 04:32 AM
5 minutes to read
KiwiSaver hardship claims have risen over the last year. Photo / File
The number of Kiwis tapping into their retirement savings due to financial hardship continues to rise and experts say the latest lockdown could spur more claims if it drags on longer than three days. Inland Revenue figures show that in December last year 2526 people withdrew money from KiwiSaver accounts due to financial hardship, taking out $16.4 million.
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That was a significant jump on a year earlier when 2000 took $11.6m out in December 2019.
Statistics show the number of people taking money out of KiwiSaver for hardship rose steadily over 2020 despite the amount of economic stimulus being pumped into the economy and employment levels staying strong.
Samantha Motion: Kiwisaver First Home Grant price caps must rise
18 Jan, 2021 09:43 PM
3 minutes to read
First-home buyers using the grant may wind up with homes in need of major renovations. Photo / Getty Images
First-home buyers using the grant may wind up with homes in need of major renovations. Photo / Getty Images
OPINION
When KiwiSaver was created in 2007, most of the rhetoric centred on helping New Zealanders save for retirement. That s still a far-off prospect for many people in my Millenial generation and even more so for the Generation Z cohort following in our footsteps.
For these generations, the more immediate reason to join KiwiSaver is to get help towards taking a first step on to the property ladder.