KiwiSaver Preferred Provider
As an employer, you have an opportunity under the KiwiSaver legislation to select a preferred KiwiSaver scheme for your workplace.
This means that new staff that are automatically enrolled, or existing staff that choose to opt-in to KiwiSaver, will become members of your company's preferred scheme (rather than being randomly assigned to a default scheme) if they don't make a choice themselves.
Why choose IWIinvestor as a preferred KiwiSaver scheme?
There are advantages that come from choosing a preferred scheme.
- Because default investment funds are conservative, they may be inappropriate for many investors saving for the medium to long term. Having IWIinvestor as a preferred scheme will help ensure that more of your staff are in KiwiSaver investment funds that suit their circumstances.
- The induction process for new employees is simplified (to the extent that they choose to go with the preferred scheme).
- Having IWIinvestor as a preferred scheme helps simplify the decision making process. Currently there is a wide range of KiwiSaver schemes from which to choose.
- Your staff can benefit from the education and support that IWIinvestor provides.
- Because you and your employees deal predominantly with only one scheme provider, administration is made easier and there is less distraction amongst employees arising from differing investment results and membership experiences. However, that new employees are likely to bring KiwiSaver schemes with them to your workplace and all employees retain the right to change schemes.