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The KiwiSaver scheme logo. KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
Kiwibank Limited is a New Zealand state-owned bank and financial services provider. As of 2023, Kiwibank is the fifth-largest bank in New Zealand by assets, and the largest New Zealand-owned bank, with a market share of approximately 9%. [4]
The scheme is voluntary, work-based and managed by private-sector companies called "KiwiSaver providers". As of 2014 KiwiSaver had 2.3 million active members (60.9% of New Zealand's population under 65). NZ$4 billion was contributed annually, and a total of NZ$19.1 billion has been contributed since 2007.
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[3] [4] In taking over Peter Huljich's executive roles, Brash admitted that the business had not been transparent but also pointed out that a number of allegations about the way Huljich KiwiSaver Funds had been managed were unfair and untrue. [2] Brash left the firm and sold his shares in October 2010. John Banks then took over the management ...
McDonald's global sales slumped in the second quarter of 2024, marking the first decline for the fast-food giant since 2020 as inflation-weary consumers pull back on eating out. "I worked [at the ...
A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent ...
The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...