Mike's Minute: KiwiSaver reality vs ideology
Given the issues around KiwiSaver, it’s a miracle any of us save anything to become remotely independent in retirement.
Last week we told you about the Morningstar rankings and how the biggest operator in the market was performing so poorly, and now we have yet another crack at where the money is actually invested.
Mindful Money is upset over the increase in funds going to fossil fuel producers. We have a 20% increase in the last six months.
That's despite the amount of new money flowing into KiwiSaver only being 7%.
Mindful Money is clearly of the view that the whole transition away from…
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