A Wellington-based company has launched an online site to take some of the confusion out of KiwiSaver.
Kiwiselect.co.nz is a free service that allows users to choose a KiwiSaver provider and a fund type of their choice.
It’s the only online service of its type, says one of the founders, Tom von Dadelszen, who is also a director of the parent company, online financial advisory firm Inform, which focuses on insurance advice.
“Up until now, too many people have been defaulted into a provider, and then if they want to know more or change, they have to go round the different banks and providers and compare options themselves.”
By ticking a box, users can change their provider. The rest is handled by Inland Revenue.
However, the information available is limited to the default providers — Tower, ING, ASB, AMP and Axon — plus Astron.