AXA confirmed as default KiwiSaver provider

AXA has been formally confirmed as a default KiwiSaver provider, with a certificate of appointment signed by Finance Minister Dr Michael Cullen and Commerce Minister Lianne Dalziel at Parliament this morning.

Monday, April 2nd 2007, 4:29PM

AXA’s appointment as default provider to the scheme continues the company’s 15 year history of providing superannuation schemes to Government.

Confirming AXA’s commitment to KiwiSaver, AXA Chief Executive Ralph Stewart said the appointment was the culmination of many months’ hard work by a great many people, and the whole AXA team was looking forward to the moment KiwiSaver becomes a reality for savers in July.

“We believe KiwiSaver will be pivotal to changing this country’s attitudes to preparing for retirement.” he said.

AXA is unique among the default providers in its size, scale and access to global investment expertise, and this expertise has been used extensively in developing the AXA KiwiSaver Scheme.

“AXA’s KiwiSaver product has been designed around the needs of the typical KiwiSaver investor. At AXA, we understand the needs of those New Zealanders who will be attracted to KiwiSaver.

“The Government has said it wants KiwiSaver to operate like a bank account – in other words, don’t over-complicate the product. We have taken this message to the core of our proposition,” commented Stewart.

Affirming AXA’s wish to take the worry out of KiwiSaver for investors, Stewart said AXA will be offering a straightforward product backed by AXA’s reputation for high quality, local service and the provision of good advice.

“We have built our business on helping Kiwis make the right financial decisions for themselves and their families. Our business is financial protection so everything we do is geared towards securing the future of New Zealanders, including saving for a successful retirement.”

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KiwiSaver default scheme providers announced »

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