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Abolished '74 Super fund would now be worth $278 billion, delivering $256,000 nest eggs

8 Apr 14 - FSC Media Release - A report prepared by Infometrics estimates the 1974 New Zealand Superannuation Fund would be worth $278 billion by 1 April 2015 had the scheme continued. The Infometrics report, funded by the Financial Services Council, and released today also estimates that someone on the average wage, saving over 40 years would have had a retirement nest egg of $256,000 at age 65 by 1 April 2015.

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Tips for funding your retirement

6 Apr 14 - Stuff.co.nz - How will you fund your lifestyle frills post retirement? How are you going to afford that yearly cruise once you retire?
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KiwiSaver: Big retirement schemes very different

1 Apr 14 - NZ Herald - Helen Twose - But NZ Super and KiwiSaver both have key roles in building up the nation's savings pool for pensions.

Can someone please explain the difference between KiwiSaver and the Government Superannuation Fund? Is KiwiSaver backed by the Government?

 
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Lack of insurance puts livelihoods at risk

29 Mar 14 - Stuff.co.nz - New Zealanders place more value on their house and car than they do health and family if current insurance trends are anything to go by.

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Chart shows who's saving for retirement

21 Mar 14 - MarketWatch.com -  EDITOR’S NOTE: I started the day on Friday with some interesting data about the relationship between income and retirement savings. I then turned that data into a confusing chart–one that included a typo, to boot. With valuable help from colleagues and readers, I’ve replaced the old chart with two clearer ones. Thanks for your interest and your engagement. — M.H.

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Latest News

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Make KiwiSaver universal: Labour

12 Apr 14 - Stuff.co.nz - Labour is reigniting calls for KiwiSaver to be made universal, after research shows the New Zealand Super Fund could have been worth $278 billion had it not been scrapped in the 1970s.

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Super report backs compulsory KiwiSaver, says Cunliffe

12 Apr 14 - TV3 - Labour leader David Cunliffe has labelled the axing of New Zealand's compulsory savings scheme in the 1970s as the "worst economic decision in New Zealand history".


 

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Consumer Watch: KiwiSaver management fees to shrink

12 Apr 14 - NZ Herald - Are you getting value for money from your KiwiSaver provider? The retirement savings scheme is 7 years old and the average balance for the 2.2 million members across all schemes is just over $8,000.

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Mary Holm: Ratings help sort wheat from chaff

6 Apr 14 - NZ Herald - Mary Holm - Expert analysis and industry rules can help people to avoid tripping up, although no investment is failsafe.
The downside of putting lots of savings into KiwiSaver is that you lose access to it until you reach NZ Super age, unless you use it to buy a first home.

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About us

The Financial Services Council (FSC) represents investment and life insurance companies in New Zealand. It has 21 investment and life insurance members and 18 associate members. 

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Ph: +64 (0) 4 473 8730 

Email: fsc@fsc.org.nz

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