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Tyndall applauds workplace super scheme

Tyndall applauds the Government’s proactive move in introducing an employer-based savings scheme called KiwiSaver.

Thursday, May 19th 2005, 9:07PM

by Anthony Quirk

Tyndall applauds the Government’s proactive move in introducing an employer-based savings scheme called KiwiSaver.

The savings area has been ‘some time coming’ and has not been a key focus for previous governments.

“The proposed KiwiSaver package overcomes some of the major issues identified in the Harris Report, by offering a one-off $1,000 contribution to those who join.

“It will be interesting to see how KiwiSaver impacts on existing employer schemes. It may lead to the closure of existing schemes and potentially cause savings to drop.

“The ability for first home owners to access funds could result in a similar situation to that seen in Australia with the cost of lower valued homes rising to meet increased demand. In doing so, this would negate the benefits of offering such an incentive.”

Managed Funds
“Tyndall welcomes the removal of collective tax on managed funds, as it has long been seen by many as a tax disadvantage.”

This is a press release from Tyndall managing director Anthony Quirk.

Anthony Quirk is the managing director of Guardian Trust Funds Management.

« Govt announces detail of workplace savings schemeKiwisaver positive start but more needed: NZI »

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
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CFML Standard Loans 9.20 - - -
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China Construction Bank Special - - - -
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Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
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Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
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Heartland Bank - Reverse Mortgage - - - -
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Kiwibank - Offset 8.25 - - -
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TSB Bank 8.69 6.79 6.49 6.49
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Unity First Home Buyer special - 5.49 - -
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Westpac Special - 6.29 5.79 5.79
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