Is police pension scheme underperformance the tip of an expensive iceberg?
Over almost three years the Police pension scheme has underperformed its low-cost KiwiSaver equivalent by $195 million.
Is the police pension scandal just the tip of the iceberg?
"We're about to find out," explains Sam Stubbs, Simplicity Managing Director.
The Financial Markets Conduct Act passed recently, requires full transparency for superannuation schemes, including KiwiSaver and this sunlight is going to expose any underperformance and poor decision-making by fund managers, trustees and consultants.
With information that is easy to access and understand, many people will be interested to know how their fund has performed. Hopefully it won’t be as bad as the returns for hard-working cops.
Full article on Stuff here.