KiwiSaver rejig costs members $5m
Transitioning members from conservative to balanced funds is worth it, government says.
It cost $5.6 million to move 300,000 KiwiSavers out of conservative default funds into higher returning schemes, with most of that borne by the members themselves.
The government’s rejig of the default KiwiSaver system last year cost members an average 0.18% of their balances, figures collated by
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