News

FMA unveils tough guidelines on KiwiSaver fees, seeks consultation

Tuesday 3rd of November 2020

The proposed guidance sets out the FMA’s regulatory approach to the KiwiSaver Act’s requirement that KiwiSaver fees not be unreasonable. It sets out that fees charged to members need to be regularly reviewed to ensure that members are getting value for money.

An FMA statement accompanying the guidance states that, “despite our expectation of competitive pressure on fee...

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