Seasons Greetings
The Council and Secretariat of Workplace Savings NZ would like to thank all of our members and sponsors for their support during this year.
We take this opportunity to wish you all a merry Christmas and a happy & prosperous New Year. We hope you have a relaxing and enjoyable holiday season!
The Best of 2009...
Re-brand
After 40 years we have re-branded as Workplace Savings NZ (Te māngai penapena ā-mahi - the mouthpiece for saving through your workplace) - a name that better captures the full breadth of our activities. Our thanks to all of our members who helped implement this change.
Events
We partnered with Women in Super to produce a series of Breakfast events that were very well attended. Our thanks to all who helped with our success by volunteering their expertise as a keynote speaker.
Our one day Forum titled “Plain Engishing Workplace Savings & KiwiSaver” held in August at Te Papa, continued our past successes of hosting topical and relevant Industry conference delivering on delegate needs. Thanks again to our Forum speakers for their significant contributions.
Communication Awards 2009
Promoting innovation and excellence in all forms of workplace savings communications. In our view is a visible way to help improve public confidence in workplace savings.
- A high number of quality entries received (29).
- A large gathering of industry participants to our Award Ceremony where 6 awards were presented.
- This year we introduced and awarded the inaugural “Peoples Choice KiwiSaver Communications Award”. This was voted on by the KiwiSaving public, and allowed us to enhance our long running award series and truly take the Awards into the public domain.
Industry Representation
Workplace Savings has made numerous submissions on issues of concern for our members and the wider workplace savings & KiwiSaver industry. Some of the wins achieved:
- The change to the KiwiSaver law allowing families of members who die to have quick access to funds in the dead member's account;
- Closure of the KiwiSaver mortgage diversion function;
- Continued Prospectus relief for workplace savings schemes with the renewal of the Securities Act (Employer Superannuation Schemes) Exemption Notice 2004 and the renewal of the Securities Act (Multiple Participants Superannuation Schemes) Exemption Notice 1998;
- Limited relief for Employers under the Financial Advisers Act 2008.
Our Objective is to be the Voice of Workplace Savings; advancing the sustainable, effective, and efficient delivery of workplace savings outcomes for all involved – including the core workplace superannuation scheme members who remain at the heart of the organisation. In 2010 we will continue this work through advocacy, education, networking and promotion.
Relief for Employers - FSP Act
The recent introduction to parliament of the Financial Service Providers (Pre-Implementation Adjustments) Bill will offer more certainty to employers who assist their employees with retirement savings arrangements.
The concern of Workplace Savings NZ was for employers, who make retirement savings arrangements available to their employees through the workplace, being caught by the definition of a financial service provider.
Workplace Savings has worked hard with officials to develop appropriate relief mechanisms.
For employers who want to help their employees save through a registered superannuation scheme or a KiwiSaver scheme, the proposed changes will help exempt them from the need to register as financial service providers.
The changes recognise that the financial service is actually provided by the trustee and manager of the scheme. The protection that the legislation is designed to provide for scheme members should be achieved through trustees and managers being registered.
A member recently commented to the Workplace Savings Secretariat that "this is probably the most significant legislative achievement for our membership in the past few years".
We agree - it is! We patiently worked with Government and their officials keeping the issue below the radar, to ensure the right result was achieved for all employers involved in offering workplace savings solutions.
Workplace Savings will continue to promote workable legislation as this Bill passes through the Select Committee process.
Statutory Supervision of Trustees
The Securities (Trustees and Statutory Supervisors) Bill was introduced to parliament last week by the Hon. Simon Power.
Whilst our initial reading of the Bill suggests that this will have little or no impact for trustees of schemes registered under the Superannuation Schemes Act 1989, we will be drafting a submission to the Select Committee during January 2010.
We invite members to contribute their thoughts & comments on issues raised in the Bill to assist that drafting.
Feedback by 29 January 2010 would be appreciated. Email: bruce.kerr@workplacesavings.org.nz
Communication Awards Ceremony
Our Awards Ceremony was very well attended by workplace retirement savings industry participants, held on the evening of Thursday 3 December at the Auckland Club.
We received 29 quality entries in total.
There was much anticipation as to who would receive the honours for this years Awards, including the hotly contested People's Choice KiwiSaver Award, the online poll of which received over 9000 votes from KiwiSavers.
The Awards presented were:
Investment Statement of the Year
Winner: TOWER Investments
Annual Reporting of the Year
Winner: Dairy Industry Superannuation Scheme
Best Other Workplace Savings or KiwiSaver Communication
Winner: TOWER Investments (Cash 4 Schools campaign)
Best New Entrant
Winner: NZ Post Superannuation Plan (Annual Report 2009)
People's Choice KiwiSaver Communication Award
Winner: Forsyth Barr KiwiSaver Scheme
Excellence in Communications - Supreme Award
Winner: Dairy Industry Superannuation Scheme
Congratulations to all finalists and winners. Many thanks to all of the entrants and to our three volunteer judges: Helen McKenzie (Tyndall Investment Management NZ), Linda Clark (Chapman Tripp) and Catriona Robertson (Retirement Commission).
To view photos taken at the Awards Ceremony click here.
To view sample documents of the winning entries click here.
Council Changes for 2010
The Workplace Savings NZ Council will require changes to its make-up in 2010.
Re-elected 2007, Must stand-down 2010
Bruce Dutton
John Melville
David Penney
Must stand for Re-Election 2010
David Ireland
Murray Sarelius
Continuing
Monica Davis
Graham Evans
Dianne Kidd
Ian Miller
Nominations will be called for in March 2010. Perhaps you may like to help out at governance level at Workplace Savings NZ? Here is your chance!
Save the Date
Our 2010 Conference and Super Expo is being held:
Christchurch Convention Centre
Thursday 26 & Friday 27 August 2010
Put these dates in your diary now!
The theme we are exploring during this Conference is Workplace Savings 20/20 - where do we want our industry be in 10 years time and how will we make that happen?
More info including keynote speakers, conference programme & exhibition details will be made available early 2010 - please watch this space.
Closed for the Holidays
Please note that our Secretariat office will be closed from 24 December 2009 re-opening Monday 11 January 2010.
Membership Renewals
An advance reminder that subscription renewals will go out during January 2010.
Remember - your membership of and participation in Workplace Savings NZ strengthens the collective voice of the workplace retirement savings industry, and helps our organisation go forward.
CFA Society Survey
Calling on Chief Investment Officer/Head of Investments:
The CFA Society of New Zealand, as the New Zealand country sponsor of the Global Investment Performance Standards (GIPS®), is conducting a survey to gather information about GIPS® awareness and intentions in the New Zealand market.
The GIPS® are a set of ethical principles that establish a standardised, industry-wide approach on how investment firms should calculate and report their investment results to prospective clients in a way that ensures fair representation and full disclosure. Whilst these Standards apply to the presentation of investment manager performance, asset owners and consultants also have a vested interest in the application of the Standards.
Accordingly, this survey consists of two sections:
Part A: Investment Managers - please use following link: www.surveymonkey.com/s/SL2YJ2J
Part B: Asset Owners and Asset Consultants - please use following link: www.surveymonkey.com/s/2YKMQDT
Please complete either Part A or Part B as applicable to your organisation. Please note that responses are sought by Friday, 29 January 2010.
All replies will be treated in confidence and the results of the survey will be analysed and presented in an aggregated format. The findings of this survey will assist the CFA Society of New Zealand in understanding the industry's requirements with regards to GIPS®.
If you have any questions regarding this survey or GIPS® please contact:
Peter McCaffrey
CFA Society of New Zealand GIPS Representative
Tel: +64-9-494 0715
Mob: 027-232 2736
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