Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Simplified KiwiSaver reporting goes online

Craig Foss

21 October, 2013

Simplified KiwiSaver reporting goes online

Commerce Minister Craig Foss has welcomed the publication of the first KiwiSaver disclosure statements under new regulations that require providers to disclose fund information into an easy-to-understand format.

From today, providers are required to present their disclosure statements online in a simplified format which will allow members to check how their funds are performing.

“Making KiwiSaver reporting more accessible is part of the Government’s Business Growth Agenda, which includes a comprehensive range of actions to build high-performing capital markets to support business growth,” says Mr Foss.

Under the new regulations, providers’ reports will include information about fees as a percentage of members’ investments in the funds and information about past returns after fees and tax.

Providers will also be required to publish information about the targeted investment mix (broken down by cash, New Zealand or international fixed interest, equities and property) and the investment mix that was actually achieved.

“The new reporting requirements give New Zealanders the information they need to make an informed decisions about their own KiwiSaver fund.

“Standardised reporting will help KiwiSaver members decide whether their fund is best for their individual circumstances at any given time,” says Mr Foss.

For further information about the new reporting framework visit www.fma.govt.nz/help-me-invest/kiwisaver/kiwisaver-scheme-reporting/scheme-disclosure-statements/

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news