The December 1 KiwiSaver changes you need to know about

A major revamp of KiwiSaver will kick into gear in just over a week, Newshub reports. From next Wednesday, December 1, default users will be put into balanced funds – providing medium to high returns with medium to high risk. The lineup of the default KiwiSaver providers are also changing, explains Murray Harris from investment firm Milford Asset Management. “There are over 30 KiwiSaver providers out there but nine of them have been appointed by the Government as default providers – so that’s the provider you end up with if you haven’t made a choice yourself.”