Latest news
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ASB KiwiSaver Scheme Snapshot Issue Eight
This issue of Snapshot explains the upcoming changes to KiwiSaver and the removal of the Cash Account.
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ASB KiwiSaver Scheme Annual Report 2011
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KiwiSaver changes
The Government announced in the 2011 Budget the following changes:
The minimum employee contribution rate will increase from 2% to 3% of gross salary or wages with effect form 1 April 2013.
The compulsory employer contribution rate will increase from 2% to 3% of gross salary or wages with effect from 1 April 2013.
From 1 April 2012, there will be no exemption from employer superannuation contribution tax for any employer contributions. From 1 April 2012, employer superannuation contribution tax will be deducted at the member’s marginal tax rate before the employer contributions are forwarded to the scheme.
The Government's member tax credit rate is dropping from $1.00 for every $1.00 a member contributes up to a maximum of $1,042.86 per annum to $0.50c for every $1.00 a member contributes up to a maximum of $521.43 per annum (subject to eligibility) from the KiwiSaver Year 1 July 2011 to 30 June 2012 onwards.
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Important Update on ASB KiwiSaver Scheme Fees
Fee changes to the ASK KiwiSaver Scheme from 1 April 2011. Click here to find out more.
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1 October 2010 changes to the tax rates on PIE investments
The rates of tax you pay on Portfolio Investment Entity (PIE) investments are changing to align with the personal tax rate changes. These tax changes apply from 1 October 2010. Click here to find out more
Articles and tips
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Buying when the markets are down
While it is hard to see the value of your existing KiwiSaver savings (or other investments) go down when markets decline in value, there is a side benefit if you are regularly investing. When investment values are low, your regular investment into KiwiSaver buys more units than when investment values are high. The reverse of this means that, when investment values are high, your regular investment buys fewer units.