KiwiSaver

First KiwiSaver cheques mainly govt money

Sunday 14th of October 2007
In October $41 million in KiwiSaver funds were transferred to fund managers. The bulk of this money was not investor contributions, rather it was government money.

Of that transfer $32 million was government contributions that include the $1,000 kick-start and half the $40 annual fee subsidy.

This means only $9 million was actual savings. 212,794 people enrolled in the scheme, and that fi...

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