News

KiwiSaver changes

The Government announced in the 2011 Budget the following changes:

• The minimum employee contribution rate will increase from 2% to 3% of gross salary or wages with effect from 1 April 2013.
• The compulsory employer contribution rate will increase from 2% to 3% of gross salary or wages with effect from 1 April 2013.
• From 1 April 2012, there will be no exemption from employer superannuation contribution tax for any employer contributions. From 1 April 2012, employer superannuation contribution tax will be deducted at the member’s marginal tax rate before the employer contributions are forwarded to the scheme.
• The Government's member tax credit rate is $0.50c for every $1.00 a member contributes up to a maximum of $521.43 per annum (subject to eligibility) for the KiwiSaver year 1 July to 30 June.

Important update on FirstChoice KiwiSaver Scheme Fees.

Fee changes to the FirstChoice KiwiSaver Scheme from 1 April 2011, Click here to find out more.

Dunne: Almost 1.2 million Kiwis have embraced KiwiSaver

(23 October 2009 - www.beehive.govt.nz)

Revenue Minister Peter Dunne said the second annual evaluation of the KiwiSaver programme, released today by Inland Revenue, highlights just how much people have embraced the savings scheme. Read more

KiwiSaver mortgage diversion to be closed

(28 May 2009 - www.beehive.govt.nz)

The KiwiSaver mortgage diversion facility is to be closed to new applicants from 1 June 2009, Revenue Minister Peter Dunne announced today. Read more

Dunne: KiwiSaver hits the magic million

(2 April 2009 - www.beehive.govt.nz)

More than one million New Zealanders are now saving for their retirement through KiwiSaver, just 21 months after it started, Revenue Minister Peter Dunne announced today. Read more

KiwiSaver Changes

(www.beehive.govt.nz)

KiwiSaver changes included in the Taxation (Urgent Measures and Annual Rates) Bill were passed on 11 December 2008. The main changes to KiwiSaver will take effect on 1 April 2009:

• Members will be able to choose to contribute either 2%, 4% or 8%.
• The member default contribution rate will reduce from 4% to 2%.
• Compulsory employer contributions will be capped at 2% rather than increasing to 3% and 4% in subsequent years.
• The employer tax credit will discontinue.
• The tax exemption on employer contributions will be capped at 2% of an employees salary or wages. Currently, employer contributions are tax-free up to 4% if matched by an employee contribution.
• The $40 member fee subsidy will discontinue, subject to some transitional rules for members who joined before 1 April 2009.

ASB Group Investments wins ASFONZ Communication Awards

(www.asfonz.org.nz)

ASB Group Investments was the big winner at the 2008 ASFONZ Communications Awards ceremony winning three of the five awards including the Supreme Award for Excellence.
Read more

ASB launches Sustainability Investment Fund

(www.goodreturns.co.nz)

Investors offered opportunity for global investment spread and sustainability through NZ's first Global Sustainability Investment Fund. Read more

ASB's new sustainability fund, Greens call for more SRI funds

(www.goodreturns.co.nz)

ASB is giving Kiwis who want to invest long term with companies committed to sustainable activities the opportunity to do so. Read more

Moving towards Responsible Investments

(ASFONZ 2008 Conference)

What's profitable, what's popular & what are providers doing? Read more