Happy New Year and welcome to your new-look Morgan Online! It’s been a busy start to the year for the GMI team but we’ve found some time to put together some useful info for you. From a look back at our top performers in 2012, to a look ahead to some key changes for KiwiSaver in 2013.
How much do you need for retirement? It all depends on what type of lifestyle you want to lead.
An Auckland University study has calculated the bare minimum you need to live a healthy life in your golden years…and it falls short of the amount NZ Super provides. This article on the Stuff website considers the gap.
Many Kiwis’ retirement saving plans will get a boost from 1 April this year. That’s when the minimum employee and employer contribution rates for KiwiSaver will rise from 2% to 3% of gross (before tax) salary. There’s more information about this and other 1 April changes on the Inland Revenue website.
If you need a quick refresher on who pays what and when, check out the Making Contributions to KiwiSaver page on the GMK website.
Late last year the Australian Government passed legislation to allow returning Kiwis to transfer their Aussie superannuation savings back to New Zealand – provided the funds are transferred to a registered KiwiSaver scheme. The legislation will take effect from 1 July 2013.
We’ll provide more information in a later issue of Morgan Online, but in the meantime you can get the facts on the GMK website.