The Commerce Minister has asked officials to fast track work to ensure the integrity of KiwiSaver is maintained and a savings culture promoted in New Zealand.

Simon Power says he has been prompted to act, following concerns in recent weeks over the regulation of the schemes and it is vital that mum and dad investors have confidence that their money is being well managed.

The level of reporting and oversight of non default KiwiSaver providers is being looked into, with Mr Power wanting more detailed reporting on a quarterly basis to an oversight panel.

The Government indicated in February that it supports recommendations from the Capital Market Development Task force for additional regulation of managed funds, including KiwiSaver.

Officials are expected to report back to Mr Power within the next month.