• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / NZDF goes on manoeuvres with new KiwiSaver plan

NZDF goes on manoeuvres with new KiwiSaver plan

March 2, 2015

Brigadier Howie Duffy: NZDF assistant chief personnel
Brigadier Howie Duffy: NZDF assistant chief personnel

The New Zealand Defence Force (NZDF) will launch its own KiwiSaver scheme, backed with Mercer investment and technology platforms.

As reported on Investment News NZ (IN NZ) last month, Mercer won the contract to supply investment and admin services to the $355 million NZDF super scheme.

But the NZDF, according to Brigadier Howie Duffy, assistant chief personnel, has much wider ambitions to provide a “one-stop-shop” retirement savings solution to its 14,000-something employees.

Duffy said NZDF staff currently contributes to over 30 disparate retirement savings products, including its in-house super scheme.

“That’s not good enough,” he said. “We want to create a compelling superannuation offer for our people.”

As part of the deal, the existing NZDF staff super fund will close to new members, with all new employees to be auto-enrolled in the new KiwiSaver scheme.

“We’ve got about $355 million in funds under management [FUM] in the NZDF scheme – which makes us one of the biggest two or three left in the country – but membership is declining,” Duffy said.

He said many of the existing 3,700 NZDF super fund members may switch to the new KiwiSaver product as the incentives (including the $1,000 ‘kickstart’ payment) become clear.

“We also get about 1,000 new employees every year who will be auto-enrolled – and that’s a pretty good growth engine,” Duffy said.

NZDF family members could also be allowed to join while exiting staff members – a source of attrition in traditional super funds – will be able to keep contributing to the new KiwiSaver product.

He said NZDF total FUM could quickly grow over $1 billion, “giving us purchasing power we can use to good effect”.

As well as investment and admin services, Mercer will also provide financial literacy training and front-end technological solutions (including a smartphone app) to NZDF KiwiSaver members.

Duffy said the NZDF is going through the KiwiSaver licensing process now with the new scheme likely to be operational before the end of this year.

 

 

Read More » Investment News

Recent articles

  • Consilium sells to FirstCape May 19, 2025
  • KiwiSaver cuts mooted as government sharpens knife May 18, 2025
  • Mercer diversifies from Harbour in responsible NZ shares shake-up May 18, 2025
  • FNZ share moves; Trust bolsters board; NZ Super consolidates to operate; Booster finds new client exec in supermarket May 18, 2025
  • Allspring is coming; Bagnall fund tops $500m; QuayStreet wins INFINZ accolade May 18, 2025
  • Four (investment) seasons in one day: Makao, Nikko check the market weather for Wealthpoint May 18, 2025
  • Second chance for India May 18, 2025
  • Unsafe words: Bloomberg finds generic genAI is financially flawed May 18, 2025
  • Token rule: why there can only be one May 18, 2025
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Most Recent Investment News

Consilium sells to FirstCape

May 19, 2025

KiwiSaver cuts mooted as government sharpens knife

May 18, 2025

Mercer diversifies from Harbour in responsible NZ shares shake-up

May 18, 2025

FNZ share moves; Trust bolsters board; NZ Super consolidates to operate; Booster finds new client exec in supermarket

May 18, 2025

Allspring is coming; Bagnall fund tops $500m; QuayStreet wins INFINZ accolade

May 18, 2025

Search by Keyword

INVESTMENT NEWS

  • Consilium sells to FirstCape May 19, 2025
  • KiwiSaver cuts mooted as government sharpens knife May 18, 2025
  • Mercer diversifies from Harbour in responsible NZ shares shake-up May 18, 2025
  • FNZ share moves; Trust bolsters board; NZ Super consolidates to operate; Booster finds new client exec in supermarket May 18, 2025
  • Allspring is coming; Bagnall fund tops $500m; QuayStreet wins INFINZ accolade May 18, 2025
  • Four (investment) seasons in one day: Makao, Nikko check the market weather for Wealthpoint May 18, 2025
  • Second chance for India May 18, 2025

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Sponsored Content

Trade walls, profit falls: NZX 50’s tariff exposure unpacked

Building a smarter portfolio: strategies for diversified growth 

Five strategies for dealing with market volatility

Unlocking the potential of smarter portfolio management for New Zealand’s largest investors

Bullish on bullion? Discover gold’s role as a diversifier

Climate disclosures and transition finance: APAC’s path forward

More Sponsored Posts >>>

Secondary Sidebar

Recent News

  • Consilium sells to FirstCape May 19, 2025
  • KiwiSaver cuts mooted as government sharpens knife May 18, 2025
  • Mercer diversifies from Harbour in responsible NZ shares shake-up May 18, 2025
  • FNZ share moves; Trust bolsters board; NZ Super consolidates to operate; Booster finds new client exec in supermarket May 18, 2025
  • Allspring is coming; Bagnall fund tops $500m; QuayStreet wins INFINZ accolade May 18, 2025
  • Four (investment) seasons in one day: Makao, Nikko check the market weather for Wealthpoint May 18, 2025
  • Second chance for India May 18, 2025
  • Unsafe words: Bloomberg finds generic genAI is financially flawed May 18, 2025
  • Token rule: why there can only be one May 18, 2025
  • Trade walls, profit falls: NZX 50’s tariff exposure unpacked May 15, 2025

Footer

Copyright ©2025 InvestmentNews.co.nz — All Rights Reserved — Terms & Conditions