#kiwisaver — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #kiwisaver, aggregated by home.social.
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"Commentators said a longer downturn could be harder for KiwiSaver members to withstand, now that balances are higher. There are concerns that AI-fuelled stock price growth could go into reverse, which could hit those investors hard."
#SusanEdmunds, Money Correspondent, 2026
A reminder that if you haven't already, it's probably a good time to switch your KiwiSaver to low risk.
(1/2)
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So National have announced that Kiwisaver will be compulsory and will increase to 12% by 2028.
Because my work pays 'Total Renumeration' that means a 12% pay cut for me. If they are going to make it compulsory they need to close that employer loophole.
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I have decided to switch my #KiwiSaver out of High Growth to Conservative as I don’t want to get hit when the #AI bubble bursts.
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New Zealand has a boomer problem
We have too many boomers and not enough young workers to fund their retirements. National thinks its new…
#NewsBeep #News #Headlines #Analysis #CommentsEnabled #kiwisaver #NewZealand #NZ #personal-finance #Politics
https://www.newsbeep.com/272489/ -
https://www.rnz.co.nz/news/business/579773/national-s-kiwisaver-plan-could-add-millions-to-balances-but-there-s-a-catch
"the next step should be making #KiwiSaver compulsory." The voluntary aspects make the new proposals almost worthless; and it's a bit rich coming from the party that wiped Labour's mid-1970s #Superannuation scheme. -
Under Luxon's proposed Kiwisaver changes, the rate will rise each year until both employer and employee are contributing 6%, a combined rate of 12% which Luxon says matches the Australian scheme.
University of Otago economics professor Stephen Knowles disagrees. While the AU rate is 12%, that's ALL paid by the employer. Employees pay nothing.
And unlike Australia, National's scheme will not be compulsory. So poorer people are more likely to miss out.
https://www.odt.co.nz/news/dunedin/kiwisaver-pledge-faces-scrutiny
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CW: Politics - NZ
2023: The cost of living is hurting everyone and Labour are on the way to hand the government over to National due to their usual lack of boldness or progressive risk taking.
The number of people withdrawing funds from #KiwiSaver due to financial stress doubles from two months earlier. https://www.rnz.co.nz/national/programmes/checkpoint/audio/2018891232/more-applying-for-kiwisaver-funds-under-cost-of-living-stress
National, Act and NZ First win the election in October promising without evidence to fix the cost of living. -
Thanks to KiwiBank selling off their KiwiSaver scheme to Fisher Funds, I'm now inadvertently investing in a range of disgusting corporate activities, including animal torture, fossil fuel mining, and fucking Meta and Uber;
https://mindfulmoney.nz/kiwisaver/FND552/fisher-funds-kiwisaver-plan-conservative-fund/
Does anyone know of a KiwiSaver fund that doesn't invest in animal torture, fossil fuels or technofascism?
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CW: NZPol budget hole
"Examining the budget documents carefully, the increased employer contribution appears to not be included among the government’s expenses – but this is no oversight. Rather, they’re not expecting to be the one paying.
The employer contribution changes were, in fact, “costed in” as lower future wages for public sector workers.
In budget documents, the Treasury is explicit: …"
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This brilliantly chilling "Make My Money Matter" ad just came up in my YT algorithm so I looked it up to share with all the #NZTwits and #NZPol followers who are interested in where their #KiwiSaver investments are being placed.
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"If you’re over 18 and below the superannuation age (currently 65), the Government will (if you’re eligible) contribute 50 cents for every dollar you contribute, up to a maximum Government contribution of $521.43 each year (1 July to 30 June). This is paid directly
to your KiwiSaver account around late July each year."So... if we're not putting a minimum of $20 a week (on average) into KiwiSaver, we're turning down free money?
(edit: corrected dodgy maths)
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So, my hunt for an ethical (= no #MilitaryIndustrialComplex, #Tobacco, #FossilFuel, #BigTech) #KiwiSaver operator has stalled. I thought #Sharsies might be an option, but their funds only allow you a token 5% discretionary investment & only among NZX stocks. You can't remove their second major share holding, the Microsoft Corporation, which makes them a hard no for 'ethical investment'.
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Across all KiwiSaver funds, there is now $8.6 billion invested in harmful companies.
I often think of people busying themselves with sorting and recycling their rubbish, all while they are investing their retirement savings in industries that destroy the environment around them.
Source: mindfulmoney.nz
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The wisdom of dipping into #retirement #savings -#Kiwisaver for #tenancy bonds https://www.rnz.co.nz/programmes/the-detail/story/2018899721/kiwisaver-as-a-slush-fund
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More people in #nzpol ought to know they are entitled to withdraw from their #KiwiSaver due to hardship, and it is not difficult to do, I found signing up for MSD/WINZ to be more onerous.
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For NZ Aotearoa: I've saved up my Kiwisaver $1043 voluntary contribution to get the maximum $523 Government contribution (a 50% return which is astounding!). So a reminder to make sure you have deposited something voluntarily into your Kiwisaver!
Deadline is 30 June, so make sure you deposit funds soon so that they hit your KiwiSaver account before the 30th June.
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@billbennett Wit #Sharesies about to launch their #KiwiSaver #Scheme, I want to move it over so I can invest it in the shares I already own.
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Found out yesterday that it’s impossible to leave KiwiSaver once you join it. As in, at least 3% of your wages will be sent to private companies in perpetuity *unless* you arrange a 12-month “suspension” and make sure your employers know.
After 12 months it automatically restarts but you can then re-suspend. So that’s a fun repeat chore for the rest of your life.
