FMA encourages people to get their KiwiSaver fighting fit during Money Week

Media release
MR No. 2015 – 38
27 August 2015

Have you checked up on your KiwiSaver lately?

That’s the question the Financial Markets Authority (FMA) is encouraging New Zealanders to consider during Money Week next week, to make sure their KiwiSaver is on track to help them achieve their retirement goals.

The FMA today launched its plans for Money Week 2015. This year the FMA wants people to complete an online health check of their KiwiSaver by answering five simple questions to make sure they are tuned in to their KiwiSaver investment.

The FMA is also hosting a free event at Westfield Riccarton Mall in Christchurch, where people can take part in an interactive version of the KiwiSaver health check.

The FMA’s director of primary markets and investor resources, Simone Robbers, says it’s important that people check in to make sure their KiwiSaver investment is working for them and Money Week is a perfect time to do this.

“For many New Zealanders, KiwiSaver will be their first investment experience and may represent a large part of their retirement savings and ultimate financial security. Finding out what choices are available to you now could have a positive impact on your future,” she said.

“There are some essential things New Zealanders can find out about by completing the health check, such as understanding what type of investment fund they are in and making sure their prescribed investor rate (PIR) is correct.”

Ms Robbers said both of the FMA’s Money Week activities aim to build investor understanding and confidence.

Money Week is a nationwide week of events that motivates New Zealanders to look at their financial situation and get their money into the best shape possible.

During the week, the FMA will also be releasing further findings from its joint survey with the Commission for Financial Capability into how well older New Zealanders are preparing for their retirement, and what they plan to do with their KiwiSaver when they reach 65.

ENDS

Contact:
Shae Skellern
021 847 192
09 300 0465
[email protected]

Notes to Editors:
The interactive KiwiSaver health check will run between 11am and 3pm on Wednesday 2 September, and between 5pm and 9pm on Thursday 3 September at Westfield Riccarton Mall.

Media are welcome to attend.  Simone Robbers will be available for interview on Wednesday 2 September. Please email [email protected] to organise an interview.