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

 


Mercer To Team With Kiwibank

8 December, 2006

Mercer To Team With Kiwibank To Deliver Kiwisaver Default Scheme

Mercer Human Resource Consulting, one of the largest providers of corporate superannuation services in New Zealand, plans to work with Kiwibank, the bank with the country’s most extensive branch network, to provide a default KiwiSaver scheme.

Mercer, which has been named as one of six default providers, plans to join forces with Kiwibank to offer a KiwiSaver scheme when the products are made available on 1 July, 2007.

“Kiwibank has a reputation for great value banking and service delivery, this combined with Mercer’s global expertise and investment and scheme administration capabilities will help the default scheme deliver excellent value. Our vision is to give New Zealanders easy access to a product that incorporates the world’s best practice in savings schemes,” Mr Jenkins said.

“KiwiSaver will change the approach to workplace savings in this country. Mercer has been committed to developing corporate superannuation schemes here for over a decade and naturally we are delighted to play such an important role in making workplace savings schemes accessible to all working New Zealanders,” Mr Jenkins said.

He said that Mercer had demonstrated its long term commitment to the financial services industry in New Zealand, and also brought the global scale and experience in researching investment managers, financial markets and investment strategies.

“While we encourage individuals and employers to take an active approach to managing KiwiSaver, it is still important that the default option offers access to the latest investment strategies and ideas from around the world to provide a best practice solution with a best value outcome for members,” he added.

In addition to the Mercer Super Trust which has $1billion in funds under management, Mercer also provides consulting and administration services to workplace superannuation schemes in New Zealand, with over 80,000 members under administration.

-ENDS-


Danielle Murdolo/ Kyahn Timms

Media Consultant to Mercer Human Resource Consulting

Buchan

Phone: +61 3 9866 4722 / + 61 40 101 8828

dmurdolo@bcg.com.au/ ktimms@bcg.com.au


About Mercer

Mercer Human Resource Consulting is a global leader for HR and related financial advice and services, with more than 15,000 employees serving clients in more than 190 cities and 40 countries and territories worldwide. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago, Pacific and London stock exchanges. For more information, visit mercerHR.co.nz

In Australia and New Zealand, the company specialises in:

• People strategies: Mercer assists employers to develop links between their people management, rewards systems, employee performance and business results.

• Superannuation: Mercer is a leading provider of superannuation products and services to employees, employers and trustees in the region with more than $12 billion in funds under management.

• Wealth Solutions: Mercer has a unique and proven approach to ensure that Australians/New Zealanders can effectively plan and manage their wealth.

Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news