KIWISAVER – update from the FMA (Financial Markets Authority)
The FMA has released it’s latest KiwiSaver update saying that over 2 million people are now in KiwiSaver but that;
• 23% of members were in default schemes
• Approximately 47% of all funds were invested in conservative investment funds
The FMA wants people to look at their KiwiSaver fund strategy to ensure they maximise their retirment income. Conservative Funds are unlikely to be appropriate for most members.
Nearly all the 23% still in a default fund will be unaware of their investment strategy or even who they are with.
Only an ‘Authorised Financial Adviser’ can help with that, so ring Mike Bennett (AFA) on 0800 226 765 or email me via this website to discuss your KiwiSaver strategy.
