1. Consumers
  2. KiwiSaver and superannuation
  3. KiwiSaver Report 2014

KiwiSaver Report 2014

KiwiSaver is a priority focus for the FMA

For many New Zealanders, KiwiSaver will be their first investment and may represent a large part of their retirement savings and ultimate financial security.

KiwiSaver is a key component of our financial system and is therefore a priority focus for the FMA.

Participants involved in KiwiSaver management, distribution and oversight must meet regulatory standards and act with the customer’s best interest in mind.

Each year we publish a KiwiSaver Report  that summarises our activities as a regulator relating to KiwiSaver during the reporting period.

Statistical highlights

 

 

As at 31 March 2014:

  • Over 2.29 million members where enrolled in KiwiSaver schemes, an increase of 9.6 percent from 31 March 2013
  • Total assets invested in KiwiSaver exceeded $21.4 billion, an increase of $4.84 billion from March 2013
  • There were 45 registered KiwiSaver schemes, of which two were in the final stage of winding up
  • Default schemes had 20 percent of the total KiwiSaver membership and 17 percent of the total assets invested
  • Minimum required contributions from members totalled over $1,978 million, an increase of 34.8 percent from the previous year
  • 28,026 members aged 65 or over withdrew $374 million in funds from KiwiSaver