The Financial Services Council has welcomed the changes to KiwiSaver default schemes as a win for savers but has sounded a note of caution about the potential for politicisation of the scheme.
“The key changes announced to the default fund settings are great news for Kiwis and the industry alike” said Richard Klipin, CEO of the Financial Services Council.
“We have been calling for some time for default schemes to be moved from conservative funds to balanced funds so it’s fantastic to see the Government taking action on this.
Read the media release.
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