KiwiSaver membership continues to grow with 867,388 members at 29 November 2008, up from 837,908 at 31 October 2008.  This still represents only 23% of elegible people under 65 years of age and Thorners continue with their belief that only those that do not understand KiwiSaver are the non members.

There are also only 15,942 employers who have partnered with a preferred KiwiSaver provider.  Employers seem to be wary of doing this but the benefits of having a financial services provider available to answer staff queries can remove the stress of being unable to provide the financial advice staff are looking for.  Benefits of preferred agreements can also include reduced monthly fees on KiwiSaver accounts and free life cover for members.

Talk to us soon to see if KiwiSaver is correct for you, your children, your grandchildren and if in business, to see how a preferred agreement can work for you and your staff.

Click here to email Thorners or Call Us on (04) 528 8088

Click here to view our disclosure statement.

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Taking a quote from a prominent NZ financial adviser in last weekend papers, we would have to agree that everybody aged 64 should be in KiwiSaver before they turn 65.

So long as you join before age 65 and contribute $20 per week for five years, you will be elegible for the initial $1,000 Government kick start, the tax credit of $1,043 p.a. plus the $40 p.a. fee subsidy.  After five years you will have a nest egg of $11,630 plus interest and this won’t have any effect on your National Super payment.

Where else can you get a return of 36% without any risk?  We could almost go as far as recommending to borrow to top up the payments if you couldn’t quite afford the $20 per week just to get the full return.

Even those aged 55 plus should join as the return after calculating in employer contributions will overshadow ordinary investment returns every year.

Talk to us soon to get the finer details.

Click here to email Thorners or Call Us on (04) 528 8088   Click here to view our disclosure statement

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