Top KiwiSaver funds slow to show new info

Business Editor·Herald online·

21 Oct, 2013 12:50 AM2 mins to read

First home buyers have withdrawn a total of $120.2 million from their KiwiSaver funds this year.

Five of the country's largest KiwiSaver providers have been slow to put up new information disclosing fees, performance and where the money is invested on their websites.

From today all KiwiSaver providers must meet new reporting requirements which stipulate that they must release certain information on a quarterly basis.

The new rules were due to come into force from July but providers were given a three month extension.

Today is the last day providers have to put the information up.

A web search this morning revealed Westpac, AMP, Mercer, Fisher Funds/Tower and Aon had yet to put the information up.

A spokesman for Westpac said it would be available soon and by 1pm the documents had been made live.

Mercer's spokeswoman said it was waiting for its chief executive to sign off on the documents which would happen at 2.30pm. The information has since gone up on Mercer's website this afternoon.

An AMP spokesperson said it would also be posting the information later this afternoon.

Of the documents that were made available many were difficult to find with four to five clicks typically required to get to the information.

Vedran Babic operations manager at Fisher Funds, which also had a delayed start to putting its documents up, said it would be putting a link to the document on its main page to help its clients access the information more easily.

The Herald was unable to find the documents on Aon's website and is awaiting a response to a query on this.

FINDING YOUR KIWISAVER INFORMATION: