Source: National Capital
KiwiSaver watchdog National Capital, has analysed data that showcases the huge discrepancies between women’s and men’s KiwiSaver funds and what this could look like at retirement.
Women, on average, earn *25% less salary than men. This, combined with a less growth-oriented investment strategy favoured by women, means that the gap at retirement between men and women in NZ could reach a staggering $61 billion!
Other key highlights in the quarterly report include the following:
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How funds performed for the quarter – and what this signifies for NZ markets.
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Top performing funds for the year to March 2024 – with the highest 1-year performance up to March 2024 being the Generate KiwiSaver’s Focused Growth Fund at 25.44%.
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An assessment of staff changes at key providers, and what this means for your fund.
Ilma Mani, National Capital Financial Advisor and KiwiSaver expert, is available for an interview to speak to the latest report findings and share insights on the gender retirement gap.
KS-Value-for-Money-report-Jan-Mar24-Final.
About National Capital’s Value for Money (VFM) report:
The quarterly report analyses the state of the KiwiSaver market, quarter to quarter – providing insights and a snapshot of how Kiwis are planning for retirement.
The report utilises data from National Capital, the FMA and a variety of other data sources to identify some key narratives Kiwis should consider when planning for the future.
National Capital uses its comprehensive review system to grade different funds by type across six key pillars: Performance, Fees, Capability, Stability, Processes & Portfolio and Ethical Investing. Through these, Kiwis are informed about which funds are best overall and by key pillar, as well as an analysis of what to be mindful of when selecting a fund.
*The latest Q1 2024 VFM report is based on FMA KiwiSaver Annual Report 2023 and Retirement Commission (TAAO) Kiwisaver balances. The salary data is based on information from Stats NZ and MJV’s demographic study with a salary growth of 2%, inflation of 2% and KiwiSaver contribution of 3%. The investment strategy does not change. Returns are after tax and fees.
