As KiwiSaver celebrates its 17th birthday, it reaches a remarkable milestone, surpassing $100 billion in funds under management. The 2024 Financial Markets Authority (FMA) Annual Report reveals that KiwiSaver now oversees an impressive $111.8 billion for over 3.3 million members, marking a substantial 19.3% growth year-on-year. The report highlights a significant rebound in investment returns, with net returns soaring to $13.1 billion, while total contributions also surged to $11.2 billion. KiwiSaver continues to enhance efficiency, reflecting its evolution as a key player in New Zealand’s retirement landscape. As the scheme matures, it promises to foster financial independence for New Zealanders, focusing on educating members about their fund choices and maximising long-term savings.
Discover how the recent BRICS expansion, including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, is set to reshape global trade and economic power. This article explores the implications of the expansion on global economic growth, the projected rise of BRICS economies, and the future dynamics of the group.