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Business
4 mins to read
2

KiwiSaver changes bring fee windfall for default providers

New figures compiled by the FMA show huge fund transfers as five fund managers axed.

About $2.1 billion of default funds under management was transferred under the scheme changes.

Tim Hunter Wed, 15 Jun 2022

Figures compiled by the Financial Markets Authority show $2.1 billion of KiwiSaver assets were transferred to the six ongoing KiwiSaver providers after changes to the default fund structure in December.

Based on their average fees, the four incumbents – BNZ, Booster, BT Funds and Kiwi Wealth –

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Tim Hunter Wed, 15 Jun 2022
Contact the Writer: thunter@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
KiwiSaver Kiwisaver default providers KiwiSaver fees Simplicity Kiwi Wealth Booster BT Funds BNZ
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KiwiSaver changes bring fee windfall for default providers
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