KiwiSaver incentives help advisers
The FMA is looking into the carrots being used to tempt new KiwiSaver members to join the retirement savings scheme.
The Government announced in this year’s Budget that it was axing the $1000 that had previously been available to all new members.
AMP offered a competition in response, which put all new sign-ups in the first two weeks of June into the draw for $1000.
Therese Singleton, AMP’s general manager of investments and insurance, said it was designed to target those who had been meaning to sign up but missed out on the $1000 from the Government.
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