INDEPENDENT NEWS

Booster tops the table for KiwiSaver customer engagement

Published: Fri 12 Oct 2018 10:49 AM
12 October 2018
Wellington, 12 October 2018 – Booster Financial Services, one of the nine government-appointed default KiwiSaver providers, continues to lead the way in customer engagement, being ranked number one in FMA's 2018 KiwiSaver report for the third year in a row.
The annual FMA KiwiSaver Report 2018 has ranked Booster first for engagement, helping default members make an active choice as to which fund they invest in.
“At Booster, we are focused on engaging with our members to ensure they are in the right KiwiSaver fund for them. We are passionate about empowering our members to make the most out of their KiwiSaver account,” says David Beattie, Principal at Booster.
“Booster are unique in that we do the utmost to contact every new Booster KiwiSaver member to make sure they know the range of funds available to them in order to meet their investment and savings goals,” Beattie says.
In 2018, 15% of Booster’s total default members made an active decision to either remain in a default fund or switch to a fund that better suited their needs – the best engagement rate of all the default providers.
“It’s great to see so many New Zealanders participating in KiwiSaver. We want to see them making the most of KiwiSaver, really making their money work harder for them,” Beattie says.
For members in Booster’s default KiwiSaver scheme, Booster provides the additional benefit of no membership fees until the balance reaches $10,000 – helping to kick start savings.
“Booster believes its important to help our default members while they are starting on their savings journey. Our goal is to help people manage their whole financial picture, giving them more confidence and control to live their lives with freedom and choice, whatever stage they are at,” Beattie says.
Booster has a unique app for members which allows them to get a simple and complete snapshot of their financial situation. They can link all their bank accounts, debts, student loan and assets to easily see where they stand.
The app also has a Member Tax Credits (MTCs) tracker. MTCs are a key benefit of KiwiSaver where the Government contribute 50 cents for every dollar a member contributes, up to a maximum of $532.
“People should do everything they can to get the most out of their KiwiSaver. Our tracker tells you at a glance how much you will get and how much more you need to contribute to get the full $532,” adds Beattie.
ENDS

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