What are the charges?

Two types of charges apply to all members:

  • a membership fee that is charged directly to your KiwiSaver account, and
  • an annual fund charge that can be charged to each fund.

These charges will affect your returns.

Membership fee

We charge each member a membership fee of $2 per month for looking after your KiwiSaver account. We deduct the membership fee following the end of each month. If you’re invested in more than one fund, this fee will be deducted from the fund with the highest balance in your OneAnswer KiwiSaver Scheme account. This fee will show on your OneAnswer KiwiSaver Scheme account statement.
You cannot claim further personal tax deductions on membership fees, because we include the amount of these fees when we calculate your share of the taxable income.

Annual fund charge

An annual fund charge is charged to each fund per year (calculated as a percentage of the net assets). The annual fund charge is calculated daily and will reduce a fund’s unit price. There is an annual maximum to the annual fund charge.

The annual fund charge is made up of the following:

  • our management fee
  • the supervisor fee
  • fund expenses
  • fees and expenses of underlying funds (that is, other funds in which the Funds invest).

The annual fund charge we charge to each of the Funds are shown in the table.

Full details of the fees, including the annual fund charge can be found in the latest guide and product disclosure statement.

Notes in relation to charges

  • From time to time, the charges may change and new charges may be introduced, subject to the KiwiSaver Act. We will let you know if we increase our charges or introduce new charges.
  • The charges are inclusive of GST (if any).

Full details of the fees and chargescan be found in the OneAnswer KiwiSaver Scheme guide and product disclosure statement.

Fund Annual fund charge (percentage of net assets)
Growth

1.14%

Balanced Growth

1.09%

Balanced

1.04%

Conservative Balanced

0.99%

Conservative

0.99%

Cash

0.60%

New Zealand Fixed Interest

0.69%

International Fixed Interest

0.89%

Australasian Property

1.14%

International Property

1.14%

Australasian Shares

1.14%

International Shares

1.14%

Sustainable International Share

1.50%

 

 

 

 

ANZ New Zealand Investments Limited is the issuer and manager of the OneAnswer KiwiSaver Scheme. Download a copy of the OneAnswer KiwiSaver Scheme guide and product disclosure statement, or request a copy by calling 0800 736 034.

 

 

Update your prescribed investor rate (PIR) online

As the OneAnswer KiwiSaver Scheme is a Portfolio Investment Entity (PIE), we use your PIR to calculate how much tax to pay on your share of the OneAnswer KiwiSaver Scheme’s taxable income. We pay this tax for you from your KiwiSaver account by cancelling units in your KiwiSaver account equal to the value of the tax you need to pay.

In certain circumstances we receive tax refunds. When we do, we add units to your KiwiSaver account equal to the value of your share of the tax refund.

If you give us a PIR that is too high, you will not be able to claim a refund of overpaid tax from Inland Revenue.

 

If you give us a PIR that is too low, you may need to file a tax return and be responsible for paying any additional tax, penalties, and interest.

Therefore, to make sure you’re taxed at the right rate, it’s important to make sure we’re using the correct PIR for you. You can use the handy table below to determine your PIR and then update it online if needed.

If you have considered the two previous income years and determine that you qualify for two different rates, your PIR is the lower rate.

* Your attributed PIE income or loss for an income year is the amount of income or loss attributed to you by PIEs (including the scheme) in that income year, as recorded in the tax certificates issued by PIEs to you at the end of each income year. An income year generally runs from 1 April of the previous year to 31 March of the current year.

 

ANZ New Zealand Investments Limited is the issuer and manager of the OneAnswer KiwiSaver Scheme. Download a copy of the OneAnswer KiwiSaver Scheme guide and product disclosure statement, or request a copy by calling 0800 736 034.

What are my risks?

KiwiSaver is an investment. Like any investment, it involves taking some risk. The level of risk will vary depending on the fund your savings are invested in, as each fund is exposed to different levels and types of risk. You need to decide how these risks apply to your personal circumstances. In very general terms:

  • if you’re seeking higher returns, you need to be willing to accept more risk (for example, by investing in a fund with more growth assets)
  • if you’re seeking lower risk, you need to be willing to accept lower returns (for example, by investing in a fund with more income assets).

These (and other) risks may mean you get back less from your investment in the OneAnswer KiwiSaver Scheme than you hoped for, and it is also possible that you might not receive back the full amount you contributed to the OneAnswer KiwiSaver Scheme.

We decide which risks are significant by thinking about how likely the unwanted event is and what effect it might have if it happens.

There is no guarantee that the investment objectives of the funds will be achieved. See the guide and product disclosure statement for more information.

You should consider the information set out in the guide and product disclosure statement, and talk to a financial adviser if you need more information.

Understanding the risks

For the OneAnswer KiwiSaver Scheme, we believe that the most significant risks will usually fall into the following broad categories:

  • market risks – risks from the asset class or classes a fund invests in
  • currency risk – risk of changes in currency exchange rates
  • liquidity risk – risk that an asset cannot be sold at the desired time
  • investment management risks – risks that arise because of the way we, or our external managers, manage the OneAnswer KiwiSaver Scheme
  • derivative risk – risk that arises from the use of derivatives
  • general risks – risks that apply to any investment in OneAnswer KiwiSaver Scheme.

You should familiarise yourself with these risks which are explained in the guide and product disclosure statement and how they relate to the fund, or funds, you’re invested in.

 

ANZ New Zealand Investments Limited is the issuer and manager of the OneAnswer KiwiSaver Scheme. Download a copy of the OneAnswer KiwiSaver Scheme guide and product disclosure statement, or request a copy by calling 0800 736 034.

About our case studies

All of our case studies are examples to help you understand how choices can affect KiwiSaver savings. The figures used are for illustration only and may not reflect actual returns.

General assumptions

The figures in our case studies:

  • show projected savings both:
    • where they haven’t been adjusted for the effect of rising prices over time (that is, inflation) in which case the amount does not reflect the ‘real’ buying power in the future
    • where they have been adjusted for inflation of 2% per year to show the ‘real’ buying power of the savings in the future
  • assume employer contributions are 3% of the stated before-tax salary
  • apply annual member tax credits appropriate to the contributions made and at today’s levels only
  • assume salaries will increase by 2.5% each year
  • assume positive investment performance in the funds within the OneAnswer KiwiSaver Scheme each year (after fees and taxes using a prescribed investor rate of 28%) of: Conservative Fund: 3.2%; Conservative Balanced Fund: 3.9%; Balanced Fund: 4.6%; Balanced Growth Fund: 5.3%; and Growth Fund: 6.0%
  • assume a membership fee of $2 per month
  • generally round savings to the nearest $1,000
  • account for tax on employer contributions when appropriate.

Additional assumptions

“David & Nicole”:

  • assumes both are eligible for the first home withdrawal and KiwiSaver HomeStart grant
  • assumes they have never worked in Australia and/or transferred any Australian complying superannuation funds to their KiwiSaver accounts.

“Zoe”:

  • Zoe’s birthday is assumed to be on 1 July, with her projected savings calculated in March
  • joined KiwiSaver when she was 22, earns $45,000 a year (before tax) and contributes 3% of her before-tax pay into our Lifetimes option
  • did not receive the Government’s $1,000 kick-start
  • projected savings have been adjusted for inflation.

“Sarah”:

  • Sarah’s birthday is assumed to be on 1 July, with her projected savings calculated in March
  • selected the Lifetimes option
  • did not receive the Government’s $1,000 kick-start
  • projected savings have been adjusted for inflation.

“Sai”:

  • Sai’s birthday is assumed to be on 1 July, with his projected savings calculated in July
  • selected the Lifetimes option
  • did not receive the Government’s $1,000 kick-start
  • projected savings have been adjusted for inflation.
Retirement Savings Confidence Barometer

The lump sum calculation assumes:

  • the income you need will last for 20 years
  • the income is inflation-adjusted at an annual rate of 2.5% (thus maintaining purchasing power of your dollars throughout the 20-year period)
  • the lump-sum investment will earn a real post-tax and after-inflation return of 2%
  • the original lump-sum investment will be exhausted after 20-years.

 

ANZ New Zealand Investments Limited is the issuer and manager of the OneAnswer KiwiSaver Scheme. Download a copy of the OneAnswer KiwiSaver Scheme guide and product disclosure statement, or request a copy by calling 0800 736 034.