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The amount saved in KiwiSaver schemes rose to $111.8b from $93.6b for the year ended March. File photo. Photo: 123RF KiwiSaver funds have grown at their fastest rate in four years, surging through the $100 billion mark, but with increases in those drawing down for retirement, buying houses, hardship and leaving the country. The Financial Markets Authority's (FMA) annual KiwiSaver report showed the amount saved in schemes rose to $111.8b from $93.6b for the year ended March, with investment returns just outstripping contributions in lifting the total. Key numbers for the year ended March 2024 compared to previous year: Total funds under management $111.8b vs $93.6b Total membership 3.33m vs 3.25m Average balance about $30,000 vs $28,778 Investment returns +$13.1b vs -$1.9b Total fees de...

Photo: RNZ / Lucy Xia Auckland shoppers and transiting travellers have continued to flock to the city's newest outlet mall - Mānawa Bay - despite traffic woes over the precincts' first weekend since opening. Thousands of shoppers visited the outlet - just three kilometres from Auckland Airport - causing long delays along the main highway to the airport on Saturday and Sunday. Around midday on Monday, the mall's 1400 car parks appeared to be nearly fully occupied, long queues remained outside a boutique chocolate store, and the food court was bustling with people. While some told RNZ that they picked a working day to avoid the traffic, others like Avi, who had popped in over his lunch break, said traffic was still slow coming off the nearest motorway exit. "Coming in, obviously there was ...

Christmas shopping in Wellington before the pandemic. Photo: RNZ / Rebekah Parsons-King The government caused Wellington's retail woes and forcing public service workers back to the office is not going to fix them, a union leader says. Public Service Minister Nicola Willis on Monday said she had directed department bosses to tighten up on working-from-home arrangements - that they should only be by agreement, not compromise performance, and departments and agencies must regularly report on the number and nature of agreements in place. Willis said "if the pendulum swings too far in favour of working from home, there are downsides" for CBD retailers, restaurants and cafes. A number of outlets have closed in recent times, and those still open reporting empty streets and fewer customers tha...

McDonald's says its main feedback from customers is how popular the promotion has been. Photo: 123rf A lack of transparency and questionable prize value might be turning some people off McDonald's Monopoly promotion, one marketing expert says. McDonald's has been running the Monopoly game for 10 years. It offers customers tickets when they buy certain items, which can win instant prizes or be saved for "collect to win" prizes. But some customers have complained that the prizes are not as generous as they first appear. For example, a Mixbook $20 voucher can't be used with any other discount on the photobook site, which is currently offering a sale of up to 50 percent off. Three months of membership to Amazon Prime, for which there are 400,000 prizes available, requires people not to alre...