The tax exemption for employer contributions to KiwiSaver will be extended to other registered superannuation schemes, Finance Minister Michael Cullen and Revenue Minister Peter Dunne announced today.

American International Assurance(AIA)has launched the AIA Financial Services Network, a national network of financial advisers specialising in providing an extensive range of insurance services and products for New Zealand’s growing Asian and Indian population.

MFS has entered into an agreement to buy financial planning group Northplan for $52 million.

Dunedin

The government named six companies as default providers to KiwiSaver; the workplace-based retirement savings scheme which comes into operation in July next year.

Finance Minister Michael Cullen and Commerce Minister Lianne Dalziel today named six default providers they intend to appoint for KiwiSaver.

Christchurch

The Reserve Bank has, as expected left the OCR unchanged, but again has warned that a future increase is still a possibility. Read the bank's statement here.

Wellington