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Changes to FirstChoice KiwiSaver Scheme

Media Release
22 February 2013

Changes to FirstChoice KiwiSaver Scheme

ASB Group Investments Limited (“ASB GI”) has announced that, as part of a review of its KiwiSaver schemes, it will no longer be accepting applications to join the FirstChoice KiwiSaver Scheme (“FirstChoice”) from 21 February 2013.

ASB GI, the manager of both FirstChoice and the ASB KiwiSaver Scheme, is considering its options for FirstChoice, including the possibility of transferring members to an alternative scheme.

ASB’s Executive General Manager Wealth and Insurance Blair Turnbull says, “The tremendous success of the ASB KiwiSaver Scheme, which now has around 370,000 members, has highlighted a need for us to review FirstChoice, which has around 15,000 members.”

“All of our FirstChoice members are being notified of this change. It’s important to emphasise that our members do not need to do anything, as the way in which their funds are managed remains unchanged.”

If members have any questions they can contact us on 0800 1ST CHOICE (0800 178 246).

ENDS

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