KiwiSaver twists and turns

David Maida | financialalert | 16 May 2013

Nearly six years after KiwiSaver launched, there are now more than 2.1 million people contributing with $14.5 billion in the scheme. The government has upped the minimal contribution rate, people have started using the first-time home buyer benefit, and savers are starting to see their balances grow. But many advisers are shunning KiwiSaver-only clients as large institutional advisers reel them in.

Fidelity Life CEO Milton Jennings told financialalert that KiwiSaver is going well fo...