KiwiSaver demystified

Free service allows users to choose a KiwiSaver provider and a fund type of their choice

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.

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