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Who’s Looking AfterYour KiwiSaver? The number of KiwiSavers in New Zealand is now at almost 2.5 million and The Financial Markets Authority is worried that some don’t know enough about where and how their share of over $28 billion is invested. Can you answer these questions about your KiwiSaver? 1. Who is your KiwiSaver provider? A KiwiSaver provider is an organisation that offers a KiwiSaver scheme and is responsible for managing your savings in the scheme. 09 426 2979
There are over 20 KiwiSaver providers in NZ - from the big name banks, insurance companies and investment managers, through to specialist or boutique managers.
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2. What type of fund are you in? If you enrolled to KiwiSaver automatically through your bank or employer, the chances are that you’re in a default fund, which may not be appropriate for your life stage. Default funds are generally invested very conservatively, which means your money may be earning interest and not a lot else. Growth-oriented funds take your contributions and invest them in assets like property, infrastructure and international equities. While the figures in a growth fund will tend to see more ups and downs than a conservative fund, investors are more likely to gain better returns on their savings in the long-run. It’s worth taking the time to investigate which KiwiSaver fund is best for you and making an active choice - it could mean the difference of hundreds of thousands of dollars by retirement. Jil O’Brien is a registered financial adviser. This article is of a general nature and is not personalised financial advice.
Timber Furniture Specialists with quality workmanship guaranteed Specialising in Antique, New Furniture and all other timber surfaces • Furniture Restoration • Re-Spraying • Special Finishing • Colour Matching • Insurance Quotes • Furniture Repairs • Custom-Made Furniture • Modifications • Recycled or New Timber • Upholstery & Cane Work
Phone Grant or Lesley 23b Foundry Road, Silverdale
09 426 2979 www.silverdalefurniturerestorations.co.nz
09 426 8412 www.countrycharm.co.nz Look for our pages on www.facebook.com
