KiwiSaver, Or how to Invest in Land Mines and Cluster Bombs

Following hot on the heels of the tax haven scandal, John Key is again on the back foot fighting off revelations about unethical investments made by KiwiSaver superannuation funds.

RNZ revealed today that at least five of the nine default KiwiSaver providers invest in anti-personnel mine and cluster bomb manufacturers, despite it being illegal for government agencies to invest in them themselves.

Hundreds of thousands of KiwiSaver members might be unknowingly investing in those companies, and the Green Party and Amnesty International have called on the government to review default providers that might have investments in these weapons…source

RNZ’s research came on the back of investigative journalism carried out by the New Zealand Herald.

Dirty secrets of your KiwiSaver

” Kiwisaver funds have invested $32.5 billion, $150 million of those assets are blacklisted by the NZ Superannuation Fund.

KiwiSaver

See also : Dirty Secrets of KiwiSaver: what providers say – NZ Herald

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