Sydney, 08 November 2011 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of transfer agency and wealth management software applications and related professional services – is pleased to announce that it has surpassed one million KiwiSaver members supported on its wealth management platforms.
KiwiSaver was introduced by the New Zealand government in 2007 as a national workplace savings scheme designed to encourage New Zealanders to save for their retirement. Today KiwiSaver has a total member base of 1.8 million New Zealanders.
Jason Tong, Bravura’s COO – Global Wealth Management said: “The majority of KiwiSaver accounts are now administered on Bravura platforms – this is testament to the quality of our software and depth of functionality.”
Bravura was one of the original organisations to deliver KiwiSaver-compliant functionality, going live in 2007 and supporting a number of clients including ASB and Trustees Executors.
In the lead up to the election both major political parties recently announced policies to extend KiwiSaver in the coming years. Proposed changes include further auto-enrolment or compulsory enrolment of those who have not already enrolled in KiwiSaver and increases in the employer’s contribution rate.
“New Zealand continues to be a key market for Bravura Solutions, and we continue to invest in our technology to support KiwiSaver and our other investment and life insurance clients in the region,” Tong said.