News

KiwiSaver regulatory review “timely”

10 March 2010

Workplace Savings NZ says it is concerned about the risk of overburdening KiwiSaver providers with regulatory red tape, but otherwise is entirely supportive of any changes to the rules for regulating KiwiSaver that will benefit KiwiSavers over the long term.

KiwiSaver move 'knee-jerk reaction'

10 March 2010

The Minister of Commerce's decision to fast track KiwiSaver regulation is a "knee-jerk reaction", says the chairman of Workplace Savings NZ.

Ireland unveils pensions overhaul

4 March 2010

The Irish government unveiled a set of sweeping reforms to the country's pension system which include raising the state retirement age to 68 and the introduction of a mandatory scheme for all workers in the coming years.   The new National Pensions Framework foresees state pension age will increase from 65 to 66 in 2014, then to 67 in 2021 and 68 in 2028. The government also committed to retain the level of state pension at 35% of average weekly earnings.

Govt plan 'step in right direction'

19 February 2010

Commerce Minister Simon Power yesterday responded to all 60 of the recommendations made by the taskforce in December - 18 months after it was set up to try to breath new life into the market by making it more attractive to investment from individuals and companies.

KiwiSaver transfer process needs streamlining

19 February 2010

Workplace Savings NZ - the voice of workplace savings - says streamlining the transfer process between different providers is necessary to improve the KiwiSaver experience.   The comments follow a meeting of KiwiSaver providers in Auckland this week.

Changes to financial adviser law pass first reading

17 February 2010

A bill that makes some small but important tweaks to new financial regulations passed its first reading in Parliament last night.   The Financial Services Providers (Pre-Implementation Adjustments) Bill makes technical amendments to the Financial Service Providers (Registration and Dispute Resolution) Act and the Financial Advisers Act.

PM wants NZ to be super-fund 'hub'

15 February 2010

Prime Minister John Key wants New Zealand to become an international financial hub specialising in the administration of overseas pension funds.

Workplace Savings NZ Submission on the Taxation Bill

10 February 2010

Workplace Savings NZ has today submitted the following response to the Finance & Expenditure Select Committee on the Taxation (Annual Rates, TransTasman Savings Portability, KiwiSaver, and Remedial Matters) Bill.  Click to read more.

PM signals tax reform changes

9 February 2010

In his Statement at the opening of Parliament today, Prime Minister John Key said measures to reform the tax system would be introduced as part of the Budget in May. Any changes would be based on "equity and fairness". Mr Key has signalled changes to the way property is taxed, changes to personal income tax rates and says further work will be done on whether the rate of GST should be increased. He also said the Government had ruled out developing any proposals for a land tax, a general capital gains tax or a risk-free return method for taxing residential investment properties.

Debt projections demand Super rethink

4 February 2010

Winston Churchill said that he had sometimes had to eat his words and found it a wholesome diet. Prime Minister John Key needs to follow the great man's example with respect to his pledge to resign rather than tamper with the entitlement parameters of New Zealand Superannuation.