
KiwiSaver
Banks losing appeal for KiwiSavers
Friday 7th of June 2013
For the year ended March 31, the five major banks collectively had 28,139 members transfer out of their KiwiSaver funds, which represented 58.7% of the number that transferred in.
“The negative association between fund and member flows and the KiwiSaver provider being a bank was a real surprise,” said Dr Claire Matthews, Massey’s director of financial planning.
It follows her rese...
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