Relief from Disclosure of Changes to KiwiSaver

Media Release
19 May 2011

Changes to KiwiSaver in today's Budget Bill may be material to decisions about whether to invest in a KiwiSaver scheme.

The Budget Bill includes a transitional provision for securities law disclosure that means KiwiSaver providers can keep their schemes open and have a reasonable period to amend their offer documents.

In the meantime FMA expects KiwiSaver providers to take all practicable steps to ensure potential investors are fully informed of any changes, including through information on provider websites, financial adviser networks, and supplements provided with offer documents.

Ends