Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ASB Endorses KiwiSaver As Positive First Step

December 7 2006

ASB Endorses KiwiSaver As Positive First Step

Statement made by Hugh Burrett, Managing Director, ASB

We welcome today’s announcement from the Ministers of Finance and Commerce that ASB Group Investments (“ASB”) will be appointed a KiwiSaver default provider. New Zealanders will also have the opportunity to choose ASB as their “preferred” KiwiSaver provider to manage their retirement savings.

ASB is already well underway with its plans for a comprehensive set of tailored investment options for KiwiSaver and once the proposed investment tax changes have been confirmed, will move quickly to finalise its product offering in time for the 1 July 2007 launch.

ASB has strong credentials in retirement savings. To date more than 50% of State Sector employees saving in the State Sector Retirement Savings Scheme have chosen ASB as their scheme provider. We have applied the experience and expertise we have gained from being the most preferred provider to the State Sector scheme, to develop a range of attractive options to suit the needs of all New Zealanders.

The confirmation of KiwiSaver default providers is a timely reminder to employers and employees that now is the time to start to learn more about KiwiSaver.

KiwiSaver is an extremely positive Government initiative to encourage New Zealanders to save consistently during their working years to provide for their financial well being in their later retirement years.

Given the portability of KiwiSaver and the $1000 ‘kick start’ benefit on offer from the Government, ASB anticipates that a large number of people will voluntarily opt into the scheme, particularly in situations where employers elect to contribute into their employees’ KiwiSaver scheme.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news