Newsletter No. 62 October 2007
Also available as: ISU Newsletter No. 62 [225 kB PDF]
Within this newsletter…
1. Annual Reports to Parliament
A copy of the 30th June 2007 Annual Reports by the Government Actuary prepared under section 28 of the Superannuation Schemes Act 1989 and section 194 of the KiwiSaver Act 2006 have been tabled in the House and a copy is attached to the email. It will also shortly be available on the ISU website. I would be happy to respond to any comments or questions that people may have on the reports.
2. KiwiSaver Guideline No.KSGN1: Unreasonable Fees
The Kiwisaver Act envisages the possibility of guidelines on unreasonable fees from this office. This guideline KSGN1 is the first and considers how I will view fees to be charged directly to the fund, firstly in the event of a complaint being received about unreasonable fees and secondly following receipt of the trustee annual report and the annual (audited) financial statements.
Other guidelines may follow over the course of time.
A copy of the Guideline is attached to this Newsletter and will also shortly be available on the website.