17 Oct 2013

KiwiSaver default funds to maintain conservative approach

11:46 am on 17 October 2013

The Government has announced that KiwiSaver default providers will continue to adopt a conservative investment approach.

Default providers are the funds KiwiSaver members are placed in if they do not select their own fund.

Calls had been made for the default providers to take a riskier investment approach but Finance Minister Bill English and Commerce Minister Craig Foss say that is not appropriate.

They say about 465,000 New Zealanders belong to default funds which manage about $3.4 billion.