Over 1.4 million Kiwis have now joined KiwiSaver.
It has recently been reported that as at 1 July 2010 investors now have $5.5 billion in KiwiSaver funds, more than double the amount a year ago, with 1000 new members joining every day. People put about $2.85b in contributions into KiwiSaver funds in the year to March, according to actuaries and investment strategists Eriksen and Plan For Life.
Once you have made the decision as to whether you want to join the scheme you then need to select a provider to sign up with and then you will need to choose which scheme best meets your investment profile.
The place to start is the KiwiSaver government website which has all the information you need to help you select a provider and a scheme.
How do you choose the right investment manager?
If you decide to go for one of the larger providers you can get a good idea of which one to select by checking out the size of the funds they have invested and their past performances. There are six default providers to choose from plus a range of others to choose from. The default providers are AMP, ASB, AXA, ING, Mercer and Tower. To compare the various providers click here .
For more information about KiwiSaver from an independent website with no ties to any commercial firm or organisation we suggest you visit the Consumer KiwiSaver website or click here for the Kiwisaver calculator.