By Amanda Morrall
Cast your vote.
Workplace Savings is hosting the third annual People's Choice award for KiwiSaver.
The award, whose stated aim is to "help lift the KiwiSaver industry communications benchmark" encourages members to vote on that basis.
Communications include printed materials, websites, campaigns or any general efforts undertaken to engage or inform the public.
Last year's winner was Fisher Funds Management. The 2009 winner was Forsyth Barr.
To encourage members, of which there are now more than 1.7 million, to participate in the vote, Worksplace Savings is offering eight draw prizes of NZ$250 each. Last year, only 4,000 people voted.
On the basis of the NZ$250 free loot possibility alone , I'll throw my weight behind this initiative.
Polling started Nov. 1 and closes November 28.
KiwiSavers will be asked to nominate a provider then rate that provider on a scale from 'Excellent' to 'Very Poor' with regards to the standard of that provider's KiwiSaver communications.
The finalists and award winner will be announced at a ceremony in Wellington on Dec. 8.
Visit Workplace Savings website here to have your say.
About the Award
KiwiSavers will vote for the KiwiSaver Scheme that they believe has done the best job of communicating with its members. That communication could have taken any form – printed materials such as an Investment Statement or Annual Report, as well as campaigns undertaken to generally inform or educate.
This Award aims to help lift the KiwiSaver industry communications benchmark, and is a highlight of the annual Workplace Savings NZ Communication Awards programme, which recognises excellence and innovation in communications by all types of Workplace Super and KiwiSaver providers.
Voting was open between 1 to 28 November 2010 inclusive, with KiwiSavers being asked to nominate (vote for) a provider then rate that provider on a scale from 'Excellent' to 'Very Poor' with regards to the standard of that provider's KiwiSaver communications. When voting closed, the votes were tallied and scored, with the finalists and Award winner announced at our Communicaton Awards Ceremony, in Wellington on 8 December.
For 2010, Workplace Savings NZ is offered eight individual prizes of a $250.00 one-off contribution to a KiwiSaver member's account as an incentive to help New Zealanders get behind the People's Choice Award and make their voice heard.
2009 People's Choice Award
The Peoples Choice KiwiSaver Communications Award was incorporated into our Communication Awards programme in 2009. The inaugural winner of this Award, as voted by the KiwiSaving public, was awarded toForsyth Barr KiwiSaver Scheme. Congratulations!
The Award was presented to representatives of Forsyth Barr at our Communication Awards Ceremony held 3rd December 2009, at the Auckland Club.
11 Comments
They communicate fairly well, but is anyone else disappointed with GMK (growth fund)? It's getting a bit tiring logging in and seeing..
Your total contributions are x
Your total funds are x*0.93
It's only been 4 years, but at what point should one change providers?
Depends how much faith you have? Explore your options. There's other growth funds that have done very well. Changing providers (not that I'm telling you to do this) is very easy. I did. Very happy with mine..and not just for the stellar above average returns. Good comms too.
I was going to do some exploration of my options, but I thought I might logon to an online forum and take recommendations from strangers instead ;)
Seriously though, this is one problem - where is the information? Is there any information on consolidated performance of kiwisaver providers by fund type?
I'm thinking like the old interest.co.nz relative ranking of investment firms that was produced from audited financials (seems to be gone now), or the KPMG financial institituion performance survey... but for kiwisaver providers.
Hi Blair,
Have you checked out our performance ranking tables? They are adjusted for fees and expenses (certain assumptions built in there so read our methodology)
http://www.interest.co.nz/kiwisaver/performance-ranking
Also, Morningstar has some good material and they are looking at after tax calculators soon as well.
http://www.morningstar.co.nz/kiwisaver/article/kiwisaver-survey-septemb…
Once the new reporting standards come thru, (2012/2013) the gates will open.
Hope that's somewhat helpful.
Amanda
Thanks Amanda, I hadn't seen either of those. Any idea why GMK is absent from both? It would be good to have a baseline I am familar with to start the comparision.
Also, does anyone know if you can change kiwisaver providers for future contributions, but leave the existing balance with the current provider (i.e. effectively have 2 kiwisaver accounts)
Why? I have been in KiwiSaver for nearly 4 years. If I compare my current balance to what I paid in, I am ahead by *at least* 200%. The fees last year applied to my fund were 0.50% all up - that doesn't seem excessive to me.
I am in a low-risk, low-fee KS fund. If my KiwiSaver scheme was a person, I'd shake it's hand and buy it a drink. Feel free to burst my bubble, but I can see no downside.
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