ASB CEO talks compulsion, contribution and PE in KiwiSaver
Shortt says she’s very happy with the scheme and the bank's strategic partnership with Blackrock as underlying asset manager has yielded pleasing results which will be evident when it puts out its investing climate report.
This year ASB KiwiSaver members have made $1.7 billion in contributions and investment returns have seen the fund grow by $1.5b, she says.
On the policy front she would like to see KiwiSaver made compulsory and changes to contribution rates. She says both of these have made a massive impact in Australia and I think New Zealand could do the same.
From a provider perspective, it will be interesting to see what different investment categories will open up at scale, as in Australia.
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