Un­lock­ing Ki­wiSaver

Central Otago Mirror - - CLASSIFIEDS -

Ki­wiSaver growth fund is 1.13 per cent. It’s 1.44 per cent on ANZ’s nonKi­wiSaver growth fund.

Wouldn’t it be bet­ter for that per­son to get more rea­son­ably-priced fund man­age­ment through Ki­wiSaver?

I’ve been de­bat­ing my Ki­wiSaver ‘‘tweak’’ with Ki­wiSaver man­agers and ex­perts.

One felt it might make Ki­wiSaver overly com­pli­cated. An­other thought it a great idea. An­other said once peo­ple’s sav­ings hit a cer­tain level, they of­ten with­drew some to spend on re­wards (hol­i­days, new TVs, cars, etc) for hav­ing done so well.

Still an­other said Ki­wiSaver providers could be pro­vid­ing nonKi­wiSaver funds at the same price as their Ki­wiSaver funds. They just don’t want to be­cause if they did, they’d have to drop the fees on all the money al­ready in the higher-fee funds they cur­rently of­fer.

I’m re­li­ably told one Ki­wiSaver provider is plan­ning on dis­rupt­ing that lit­tle party.

Hands off! Money you stick into Ki­wiSaver can’t be got at un­til age 65, ex­cept in pretty ex­treme cir­cum­stances.

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