Latest news with #DiPapadopoulos
Scoop
03-06-2025
- Business
- Scoop
Booster Savvy Returns $1 Million To Customers
Press Release – Booster As of 3 June, those returns topped $1,018,000 delivering a significant boost to account holders. Savvy has proved popular with Kiwis attracting nearly 6,000 customers who now collectively hold $50m in their Savvy accounts. Where do you find a million bucks? In Booster Savvy customers' returns! Since Savvy was launched a little over 18 months ago to offer New Zealanders a new way of managing their money, more than $1 million has been paid in returns. Booster Savvy is an investment account linked to a debit card and smart app for day-to-day payments and transactions. Clever features in the companion app help users manage their money and save toward goals. Savvy is unique in offering savers a competitive return on every dollar – currently 3.25% – whilst also offering the flexibility to withdraw as and when required without penalty. As of 3 June, those returns topped $1,018,000 delivering a significant boost to account holders. Savvy has proved popular with Kiwi's attracting nearly 6,000 customers who now collectively hold $50m in their Savvy accounts. 'This is a fantastic milestone for our customers,' says Booster Chief Executive Di Papadopoulos. 'At Booster, we understand people work hard for their money and we want their money to work hard for them. We're thrilled that $1m has already been returned to their pockets. 'It's also great to see people saving using Savvy's tools. By choosing to use our 'Boost' feature that rounds up purchases and saves the difference, Savvy customers have saved $141,000 so far. At the same time our 'Sweep' feature has been used to move $190,000 of unspent money towards savings goals. 'Automatic tools like this are a really easy way to consistently save and we're delighted that so many Savvy customers are getting such good use – and returns – out of their accounts,' says Papadopoulos.
Scoop
03-06-2025
- Business
- Scoop
Booster Savvy Returns $1 Million To Customers
Where do you find a million bucks? In Booster Savvy customers' returns! Since Savvy was launched a little over 18 months ago to offer New Zealanders a new way of managing their money, more than $1 million has been paid in returns. Booster Savvy is an investment account linked to a debit card and smart app for day-to-day payments and transactions. Clever features in the companion app help users manage their money and save toward goals. Savvy is unique in offering savers a competitive return on every dollar - currently 3.25% - whilst also offering the flexibility to withdraw as and when required without penalty. As of 3 June, those returns topped $1,018,000 delivering a significant boost to account holders. Savvy has proved popular with Kiwi's attracting nearly 6,000 customers who now collectively hold $50m in their Savvy accounts. 'This is a fantastic milestone for our customers,' says Booster Chief Executive Di Papadopoulos. 'At Booster, we understand people work hard for their money and we want their money to work hard for them. We're thrilled that $1m has already been returned to their pockets. 'It's also great to see people saving using Savvy's tools. By choosing to use our 'Boost' feature that rounds up purchases and saves the difference, Savvy customers have saved $141,000 so far. At the same time our 'Sweep' feature has been used to move $190,000 of unspent money towards savings goals. 'Automatic tools like this are a really easy way to consistently save and we're delighted that so many Savvy customers are getting such good use - and returns - out of their accounts,' says Papadopoulos. Savvy was a finalist in the 2025 INFINZ Awards, Highly Commended in international Banking Tech Awards and is MoneyHub Editor's Choice Favourite Debit Card.
Scoop
22-05-2025
- Business
- Scoop
Budget 2025: KiwiSaver Changes A Good Start, But Bigger Opportunity Missed
Press Release – Booster Booster hopes that there will be further changes to address the savings inequities that exist for those on low incomes and the approximate one million New Zealanders of working age who are not contributing to KiwiSaver at all. Budget 2025's KiwiSaver changes will deliver bigger balances at age 65 for most people, but highlight how much more impact could be made if the changes went a bit further, says KiwiSaver provider Booster. The phasing in of both employee and employer minimum contribution rates on salaries from 3% to 4% mean that the average Kiwi will be approximately $62,000 better off at 65 years of age*. This calculation includes the Budget's halving of the yearly maximum government contribution. Booster Chief Executive Di Papadopoulos says the value of KiwiSaver grows with higher contributions over a long period of time. 'While it's a good start to increase KiwiSaver contributions, it's clear that there is a much bigger opportunity to be had if both employees' and employers' contributions were doubled to where Australia's is about to go; 6% from both employees and employers.,' says Papadopoulos. 'This would deliver to that same Kiwi, an extra $220,000 instead of an extra $62,000 at age 65. So, it illustrates the power of how higher KiwiSaver contributions could deliver a much better retirement for people. Booster is pleased that 16- and 17-year-olds will now be eligible for both employer contributions and the (now halved) government contributions. 'We know that the earlier people start a savings habit, the better,' says Papadopoulos. 'At the other end of the spectrum we would have liked to see those over 65 eligible for employer contributions. Many people over 65 continue to work so it makes sense to encourage them to continue to save.' Booster hopes that there will be further changes to address the savings inequities that exist for those on low incomes and the approximate one million New Zealanders of working age who are not contributing to KiwiSaver at all. *Assumes a 38-year-old with a current KiwiSaver balance of approximately $30,000 in a growth fund, and on a salary of $80,000, 2% inflation and 3% salary growth rate, the halving of the maximum contribution and if they don't use their KiwiSaver to buy a first home or for hardship reasons. About Booster Booster ( is one of the six government-appointed default KiwiSaver scheme providers managing over $7 billion on behalf of over 200,000 investors across KiwiSaver, Superannuation and Investment Funds. Booster is committed to offering everyday Kiwis investment opportunities in New Zealand, that benefit both investors and the wider economy. NZX listed Private Land and Property Fund (PLPF) offers Kiwis the opportunity to invest in productive agricultural and horticultural land and property assets NZX listed Booster Innovation Fund (BIF) helps Kiwis invest in early-stage innovation and tech start-ups originated or being developed here in Aotearoa
Scoop
22-05-2025
- Business
- Scoop
Budget 2025: KiwiSaver Changes A Good Start, But Bigger Opportunity Missed
Budget 2025's KiwiSaver changes will deliver bigger balances at age 65 for most people, but highlight how much more impact could be made if the changes went a bit further, says KiwiSaver provider Booster. The phasing in of both employee and employer minimum contribution rates on salaries from 3% to 4% mean that the average Kiwi will be approximately $62,000 better off at 65 years of age*. This calculation includes the Budget's halving of the yearly maximum government contribution. Booster Chief Executive Di Papadopoulos says the value of KiwiSaver grows with higher contributions over a long period of time. 'While it's a good start to increase KiwiSaver contributions, it's clear that there is a much bigger opportunity to be had if both employees' and employers' contributions were doubled to where Australia's is about to go; 6% from both employees and employers.,' says Papadopoulos. 'This would deliver to that same Kiwi, an extra $220,000 instead of an extra $62,000 at age 65. So, it illustrates the power of how higher KiwiSaver contributions could deliver a much better retirement for people. Booster is pleased that 16- and 17-year-olds will now be eligible for both employer contributions and the (now halved) government contributions. 'We know that the earlier people start a savings habit, the better,' says Papadopoulos. 'At the other end of the spectrum we would have liked to see those over 65 eligible for employer contributions. Many people over 65 continue to work so it makes sense to encourage them to continue to save.' Booster hopes that there will be further changes to address the savings inequities that exist for those on low incomes and the approximate one million New Zealanders of working age who are not contributing to KiwiSaver at all. *Assumes a 38-year-old with a current KiwiSaver balance of approximately $30,000 in a growth fund, and on a salary of $80,000, 2% inflation and 3% salary growth rate, the halving of the maximum contribution and if they don't use their KiwiSaver to buy a first home or for hardship reasons. About Booster Booster ( is one of the six government-appointed default KiwiSaver scheme providers managing over $7 billion on behalf of over 200,000 investors across KiwiSaver, Superannuation and Investment Funds. Booster is committed to offering everyday Kiwis investment opportunities in New Zealand, that benefit both investors and the wider economy. NZX listed Private Land and Property Fund (PLPF) offers Kiwis the opportunity to invest in productive agricultural and horticultural land and property assets NZX listed Booster Innovation Fund (BIF) helps Kiwis invest in early-stage innovation and tech start-ups originated or being developed here in Aotearoa
