Category: Public Media

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Money: How long are KiwiSaver members waiting for withdrawals?

Source: Radio New Zealand

Rising cost of living is forcing many to withdrawal from KiwiSaver early. LDR / Alka Prasad

Some KiwiSaver members are waiting months for their hardship withdrawal applications to be processed, as providers struggle with the volume.

Withdrawals from the scheme for financial hardship reasons have increased significantly in recent years.

In February, 4750 people withdrew money because of hardship, up from 4130 in February 2025, but some members have complained about how long the process can take.

Some on social media have said they applied last month and still not had a response.

RNZ surveyed providers to ask how long they typically took.

The country’s biggest provider, ANZ, said it could take up to 20 working days.

“To work within this timeline, we do require the information requested,” a spokesperson said. “It may take longer, if there are public holidays or we need to ask for more information.”

On average, its processing time was within 20 days, even though applications were up 10 percent year-on-year.

Fisher Funds said generally guided clients to allow up to 30 working days for the whole process.

“That’s probably a fair indication of where we are at the moment. November and December were particularly busy, which we expected, and this continues with new challenges hitting the family budget.

“The biggest thing people can do to help is to be thorough in sending through all their supporting documents, as this can really help speed up the first part of the process.”

Koura KiwiSaver founder Rupert Carlyon said his team would typically respond within 2-3 days of receiving an application.

“The biggest issue is the back and forth with clients,” he said. “The problem is that we often need to go back multiple times with clients, which extends out the time frames.

“The applications are not easy and we need a huge amount of information, which is what typically takes the time.”

ASB said its timeframe was for processing within 15 days from when the full application was made.

“We understand delays can happen sometimes and this can add to an already stressful time. The most common reason for delays is due to customers providing incomplete information at the time of submitting their application, so we encourage our KiwiSaver customers who are considering making a hardship withdrawal request to ensure they are providing the most up-to-date and complete set of information and evidence possible.

“Our team can support them with this.”

Milford Asset Management did not want to comment.

DebtFix founder Christine Liggins – who helps several providers, including Milford, with their hardship applications – said applications were usually turned around in a couple of days, when all the information was provided.

Pie Funds chief executive Ana-Marie Lockyer advised people to allow up to 10 working days for a hardship application to be assessed from the point the information was provided.

“In most cases at the moment, applications are being processed within around five working days. Where delays do occur, they are typically due to incomplete information.

“Hardship applications require detailed supporting documentation to ensure the request meets regulatory requirements and sometimes clients need additional time to gather that information.

“We understand these situations can be stressful, so there is a strong focus on processing applications as quickly as possible, once everything needed has been provided.”

SBS Wealth said applications were generally paid out within 15 working days. Westpac said it took eight days to begin an application review.

“The timeline for reviews can vary, from a few days to a few weeks,” Kernel founder Dean Anderson said. “The delays are often due to gathering enough information from the client upfront in order to make an assessment.

“As an industry, we would love to see the centralisation of hardship assessments – ideally handled within WINZ. This would avoid inconsistent decisions and KiwiSaver members trying to shop around for an outcome.

“It would also ensure there is direct wider support, providing full wraparound to the individual to help them with potentially other more accessible avenues for financial support.”

While providers initially assess the application, the final decision is made by the scheme’s supervisor.

One provider, Public Trust, said people understandably wanted fast responses, when they were financially stressed.

“The application process can take time, because of the strict KiwiSaver rules in place and the continued high number of withdrawals providers are managing. We work closely with providers and know they’re working hard to reduce turnaround times.

“As supervisor, we’re involved at the end of the assessment process and, once applications reach us, we return a decision to the provider within a few days.”

ASB said it was worth considering whether a withdrawal was appropriate.

“We understand many Kiwis may be doing it tough at the moment and that applying for a KiwiSaver hardship withdrawal can play a part in managing a challenging financial situation. However, this should only be explored once other options have been weighed up.

“An early withdrawal can have a significant impact on the total KiwiSaver balance a customer will have available to them once they reach retirement. We encourage any customer who’s concerned about their financial situation to get in touch with us early, so we can explore all options with them.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

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Strong demand for businesses to buy, but some sellers holding back

Source: Radio New Zealand

Bigger investors are looking for businesses that would be managed by someone else and return an annual profit of a least a million dollars. RNZ/Calvin Samuel

Demand for businesses to buy remains high, with ABC Business Sales seeing a 28 percent increase in sales over the past year to a record of more than 500 deals done.

“While fewer businesses came up for sale, [there is] a clear sign that demand is now outstripping supply,” ABC managing director Chris Small said, adding that more than 27,800 potential buyers expressed interest in businesses advertised for sale over the past year.

He said there were currently 39 confidentiality agreements signed per sale listing, compared to 15 per sale listing three years ago.

“Right now, good businesses that are well prepared are getting strong interest, because there are more buyers than sellers.”

He said some would-be sellers were holding back, concerned about selling into current market conditions, but that was not always a good strategy.

“Interest rates move, banks tighten lending or buyer confidence drops, and the value they were hoping to achieve isn’t there anymore.”

Small said one of the biggest lessons from 40 years in the industry and more than 10,000 sales was that selling a business was rarely just a financial decision – three factors needed to align to achieve a good sale.

“It’s got to work for you personally,” he said. “You want your financials to be at their strongest and you want the market to be at their strongest.

“Conversely to that, if you haven’t had a great year of trading, ultimately, you would be better off waiting, building your profit up and then coming to market, when you’ve got those numbers in a stronger position.”

He said more buyers were looking to buy themselves a job, with a business that could return an annual income of between $200,000-300,000 for one working owner.

“The trend certainly is more people looking… to be in charge of their own destiny and creating their own wealth by being their own boss,” Small said.

“I think it’s just become a bit of a more of a trend over the last 2-3 years.”

He said bigger investors were looking for a business that would be managed by someone else and return an annual profit of a least a million dollars.

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Move on orders: Protesters hold overnight vigil in Wellington cathedral

Source: Radio New Zealand

About 250 people are at an overnight vigil at Wellington’s St Paul Cathedral to protest the government’s plan to introduce move-on orders. RNZ / Russell Palmer

Dozens of people are hunkering down overnight at Wellington’s St Paul Cathedral to protest move-on orders.

About 250 people and 50 volunteers are at the vigil, organised by eight churches and other community groups.

Families with children will head home after speeches and music tonight, while others are expecting to stay for breakfast.

About 250 people are at an overnight vigil at Wellington’s St Paul Cathedral to protest the government’s plan to introduce move-on orders. RNZ / Russell Palmer

They oppose the move-on orders the government plans to introduce, which would allow police to issue notices to those sleeping rough requiring them to move to another location.

Those who refuse could face a $2000 fine or up to three months in prison.

About 250 people are at an overnight vigil at Wellington’s St Paul Cathedral to protest the government’s plan to introduce move-on orders. RNZ / Russell Palmer

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Football: Wellington Phoenix stunned by lowly Western Sydney

Source: Radio New Zealand

Western Sydney Wanderers celebrate a goal against Wellington Phoenix. photosport

Wellington Phoenix have been stunned 1-0 at home by the lowly Western Sydney Wanderers to end their hopes of winning the women’s A-League minor premiership.

The listless defeat at Porirua Park on Sunday also leaves doubt over whether coach Bev Priestman’s team can secure a top-two finish which would hand them a bye in the first round of the play-offs.

It is a second straight loss for the Phoenix who will be second or third heading into next Friday’s final-round match away to fourth-placed Adelaide United, with plenty on the line.

They will need to improve their intensity and their quality after a wasteful display in which they struggled to put together coherent attacks.

Mackenzie Anthony of the Wellington Phoenix shoots. photosport

They paid the price in the 78th minute when Wanderers substitute Yuan Cong found the net to bring life to a mediocre contest.

The Chinese striker controlled a long ball superbly and volleyed at goal before pouncing on the reboud after the shot was blocked by goalkeeper Victoria Esson.

As with last week’s loss to Central Coast, the Phoenix came to life in the closing stages but it was too late as they suffered a sixth defeat of what has been a resurgent season.

They are guaranteed a first-ever playoff birth but could yet finish as low as fourth after having looked capable of a possible first-placing finish as recently as three weeks ago.

The Wanderers – who had lost their last five encounters against the Phoenix – climb off the bottom of the table.

Melbourne City are now guaranteed to be minor premiers.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

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More heavy rain, strong wind to sweep in from the north

Source: Radio New Zealand

The front is expected to bring “wet and windy weather whizzing through” some places, MetService said, but could also affect areas outside the yellow watch zone. Supplied/ MetService

After last week’s battering more bad weather on the way and the Far North council is warning people to be extremely careful as the area is already saturated, while a MetService yellow heavy rain watch has been issued for Auckland, Waikato, Taupō and Taumaranui.

The new weather front sweeping in from the north is expected to bring strong rain and winds to exposed places from Sunday night into Monday morning, with thunderstorms possible.

Downpours for Auckland, Waikato, Taupō and Taumaranui could reach up to 35 mm/h, from 1am Monday, MetService forecasters said.

“In areas outside the Watch, even though rainfall isn’t expected to reach warning amounts there could still be impacts from brief bursts of very heavy rain and strong wind gusts on already saturated ground – now’s the time to clear the drains and gutters and secure anything that could fly away or fall over,” they said.

Warning for saturated Far North

The incoming system will likely clear away quickly, but the ground is already saturated and more vulnerable than usual, the Far North District Council (FNDC) said.

People should stay away from existing landslides and slips, and keep away from waterways and steep slopes.

Flooding and heavy rains caused havoc in Northland this week, including badly damaging many roads, but more rain is on the way. NZTA

Far North residents experiencing weather related issues could continue to report them to the council on 0800 920 029. The helpline “operates around the clock: If you can’t get through, please leave a message with your name and contact number. We will call you back,” FNDC said, but also added the reminder that threats to life or to property should always be reported immediately to 111.

People in the affected areas should stay up to date with the latest information from MetService and NZTA as the situation changes, they said.

RNZ is New Zealand’s statutory civil defence lifeline radio broadcaster, providing vital information and updates as they come to hand. All frequencies can be found here.

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Expanding mining: NZ First want to declaw DOC, extend permits, return half of royalties to local regions

Source: Radio New Zealand

Winston Peters has announced new NZ First plans to help expand mining earnings in New Zealand, to curb the Department of Conservation, and to invest in the regions (file photo). RNZ/Paris Ibell

New Zealand First says ahead of expansions in the mining industry it wants more efficient approvals, to rein in the Department of Conservation, and to return half of mining royalties to local communities as targeted investment.

Leader Winston Peters has been campaigning in Westport on Sunday, and says the party’s policy restores common sense, paves the way for new mining zones and longer-term permits and will ensure funds go to the regions the mining takes place in, and “not Wellington”.

Peters also announced former Buller mayor Jamie Cleine as the party’s candidate for the West Coast-Tasman electorate, in the November general election.

“New Zealand’s mining industry is burgeoning, and we need to get ahead of its expansion to ensure we are building up our regions’ wealth, infrastructure, and future potential,” a policy statement from Peters’ office said.

“Mining is one of our most productive sectors. It contributes billions to our economy, supports thousands of jobs, and drives real growth without fuelling inflation.”

Stockton coal mine, north of Westport, is one of New Zealand’s largest mines, and the largest that is opencast (file photo). Supplied/ Bathurst Resources

New mining rules to ‘further unlock New Zealand’s resource potential’

The current approval system for mining was overly complex and inefficient, with “rules that don’t improve environmental outcomes but do a very good job of stopping investment and costing jobs”. We will put a stop to that,” NZ First said.

If elected it would work on making mining approvals more efficient, quicker and simpler. This meant changes to where mining can occur, issuing longer-term mining permits, and changes to rules about geological surveying technologies.

“The policy package will also rein in the role of government agencies, including the Department of Conservation,” it said.

This would be achieved through changes to the Conservation and Wildlife Acts. It would curb DOC’s ability to intervene by prioritising protection for areas of high conservation only, ensuring protection for “genuinely endangered species”.

DOC would instead “need to stay focused on their core priorities”.

“Regional prosperity cannot continue to be sidelined by processes that have lost all sense of proportion. Mining in the right places, with the right rules, will give businesses the confidence to invest for the long term and continue creating jobs in regions that rely on mining.

“And to complement this, the duration of mining permits needs to reflect the maturity of the sector. We will do that by providing longer permits that creates more certainty. More confidence. And more investment.

“The length of permits need to reflect that mining is a long-term business, giving investors certainty and ensuring permits cover the full life of the mine, including rehabilitation.”

Targeted investment in the regions

Half of the funds from mining royalties would go to local services and long term development in the region the mining was being done in. And sunk into things like water services, flood protection, energy generation, tourism and transport, to “enable housing development in areas of high minerals industry growth, and critical infrastructure projects,” the party statement said.

“We will back that up with targeted, regional investment to allow these projects to succeed.”

It would also ensure mines rescue capabilities are “properly funded”.

“The New Zealand First mining policy package is ultimately about creating growth and opportunity for everyday Kiwis and building on major policies we’ve already announced like Fast-track.”

Better understanding of New Zealand’s untapped mining potential

One of the first moves would be to commission a thorough geological survey.

“Right now, we don’t even have a modern understanding of what we’ve got beneath our feet. Other countries do and that’s simply not good enough,” the party said.

“So we will deliver a modern geological survey and unlock existing data through investment in advanced core-scanning technology. Because if you don’t know what you have, you can’t make smart decisions about unlocking its full potential.”

Opportunities would be sought to add value here before shipping offshore.

“At the moment, we risk being stuck in a ‘dig and ship’ model for key future industries, sending our resources offshore and letting others make the real money.”

So there would be more focused investment in science and innovation to support the sector, as well as upskilling New Zealanders to take advantage of high paying mining jobs, by opening a new School of Mines.

Mining was “a vital part of [the West Coast] region’s economy, and a key part of New Zealand’s future,” the party said.

“You can protect the environment and grow the economy at the same time. They are not mutually exclusive,” it said.

“New Zealand First’s mining plan will help to further unlock New Zealand’s resource potential.”

“The policy package recognises the vital role mining plays in New Zealand’s economy and regional communities.

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Fears transport service procurers may hit back as costs rise

Source: Radio New Zealand

Transporting New Zealand chief executive Dom Kalasih RNZ / Phil Pennington

There are fears procurers of transport services may begin to hit back at the increased cost of moving goods, Transporting New Zealand says.

Fuel prices have sky-rocketed in recent weeks, due to the ongoing conflict in the Middle East.

Transporting New Zealand chief executive Dom Kalasih said the financial viability of businesses are at risk, if costs can not be passed on.

“There’s a lot of worry, and that’s about whether procurers of transport services, their clients and customers, whether they will be fair, reasonable, and responsible in paying the additional costs,” he said

“These are unexpected costs and transport operators, at the end of the day, they’re just price takers, they can’t control the price of fuel.

“These prices are significant and ultimately, whilst Transporting New Zealand is very careful not to be seen as price-setting, the reality is those additional prices have to be passed on and someone’s got to pay for them.

“Transport operators cannot wear these price increases and the financial viability of their businesses is at risk if they cannot recoup these costs,” he said

Kalasih said transport regulations should be urgently amended to allow certain trucks to carry higher payloads as it could improve fuel efficiency across the freight task and reduce diesel cost pressures.

Heavy vehicle permitting regulations currently allow approved freight operators to run High Productivity Motor Vehicles (HPMVs) on state highways and local roads suitable for vehicles operating above the standard 44-tonne weight limit.

“I have written to New Zealand Transport Agency Waka Kotahi, asking the agency to consider how the heavy vehicle permitting regulations could be urgently amended to move more freight in fewer trips,” Kalasih said

“Increasing allowable payloads on 50MAX vehicles and other HPMVs could reduce the diesel required to move freight, while maintaining a safe and well-regulated system. That will put downward pressure on freight costs at a time when businesses and consumers are doing it really tough.”

“HPMVs are already delivering fuel savings compared to standard 44-tonne trucks. For example, 50MAX trucks increase freight capacity by approximately 20 percent while only increasing diesel use by 10 percent, with their additional axle ensuring no additional wear on roads per tonne of freight.”

“Improving freight efficiency also has benefits for safety and emissions, as fewer trips are required to move the same volume of goods.” he said.

On Sunday, fuel price tracking app Gaspy showed the average price for Unleaded 91 was $3.42.

Diesel is the same, while Unleaded 95 is $3.63.

The government has fleshed out its National Fuel Plan, outlining rationing measures that would be taken if supplies start running dry.

Resembling the Covid alert levels, the plan has four ‘phases’. New Zealand is at phase one.

Phase 2 would see homes, businesses and the public sector encouraged to conserve fuel.

The higher phases are still under consultation.

Phase 3 would see fuel prioritised for life-preserving services and phase 4 would see stricter intervention in fuel distribution.

Moving up or down levels is decided by a ministerial oversight group based on fuel stocks, restrictions and supply chain data.

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Skiing: Ben Richards crowned world freeride ski champion

Source: Radio New Zealand

Ben Richards photosport

Wānaka skier Ben Richards has clinched the overall men’s crown on the Freeride World Tour after securing victory in the finals in Switzerland.

The 26-year-old leap-frogged tour leader Toby Rafford of the United States with a 96-point run on the Bec des Rosses face in Verbier, executing a perfect 360 and linking multiple sections of difficult terrain seamlessly.

Rafford settled for second place while Germany’s Tiemo Rolshoven was third.

Richards said his final run was not perfect, with some improvisation needed.

“I got pushed off my line so I made up a little bit in the middle, but the conditions were so perfect, I had such a good time,” he said.

Despite two of this year’s tour stops being cancelled due to weather, the finale at Verbier Switzerland played out in perfect conditions with 50cm of fresh snow.

Richards now holds both the world tour and world championship titles.

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Epidemiologist says influeneza vaccine can reduce risk of heart attacks

Source: Radio New Zealand

Epidemiologist Dr Michael Baker says increased rates of influenza virus can increase the amount of heart attacks because it can inflame and injure the heart muscle directly. CHRISTOPH BURGSTEDT/SCIENCE PHOT

The annual flu vaccine – which becomes available this coming week in NZ – can reduce risk of heart attacks, an epidemiologist says.

Epidemiologist Dr Michael Baker told Sunday Morning the influenza vaccine didn’t just reduce the risk and severity of the flu, it also reduced the risk of heart attacks and strokes by about a third for those infected.

He said increased rates of influenza can increase the amount of heart attacks because it can inflame and injure the heart muscle directly.

“The illness itself… puts stress on the organs as well and also makes the blood more prone to clotting.”

Baker said the vaccine can be as effective as heart attack medication for those infected by influenza.

He also said there were some vaccines – which are not funded – that were better suited for older people.

What’s happening with Covid?

Baker said the world was currently dealing with subvariants of Covid-19 and the latest wave was New Zealand’s biggest in 18 months.

Epidemiologist Dr Michael Baker. Luke Pilkinton-Ching

“These waves are getting smaller, that’s the good news, but it is still causing what looks like two waves a year. It’s not seasonal at all – it can come in summer or winter – and has a mix of sub types and sub variants.”

Long Covid was also still a worry and could effect all age groups, Baker said.

“Quality of life is reduced, and while there is often some improvement overtime, many of these people in fact will have a severe long-term disability.

“And also like influenza, post-Covid infection, you are also at higher risk of having heart attacks and strokes for example,” he said.

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Ferry shutdown: More Bluebridge sailings cancelled

Source: Radio New Zealand

The fault on the Connemara ferry is taking longer to fix than expected. RNZ / Bill Hickman

More Bluebridge ferry sailings have been cancelled after a fault on one of its ships.

The technical fault on the Connemara means tonight’s Wellington to Picton 8.30pm service will not happen.

Services tomorrow are also cancelled.

It is the latest in a string of canned sailings for the ship, which have lasted more than a week.

The Connemara usually sails up to four times daily between Wellington and Picton.

Bluebridge said there were limited options for re-booking.

StraitNZ Bluebridge apologised “unreservedly” on Friday for the disruption but would not elaborate on what the fault was, just that it was taking longer than anticipated to fix.

Maritime NZ confirmed it would undertake its own inspection of the vessel to ensure safety standards were being met, but did not provide a timeframe.

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