About the SuperEasy KiwiSaver Scheme

I want the simplicity of one single investment choice that will be automatically adjusted each month so as to take away the need for me to review my investment strategy as I get older.

I also believe my money should be working for me from day one and that I can track the progress I am making with my savings. In other words, access online my personal account balance.

There are only two sets of charges. For each member there will be:

• An administration fee of $4.50 per month.
• An annual management fee of 0.5% pa of your account balance.

For most people KiwiSaver is work based with KiwiSaver contributions coming from their employer and out of their pay. Each payday you’ll make a contribution at a rate of 2% of your gross salary or wages (it is proposed this will become 3% from 1 April 2013) – or you can opt for a higher rate of 4% or 8%.

You can apply to join as a member if you are under age 65 and a New Zealand citizen or are eligible to be in New Zealand indefinitely in terms of the Immigration Act 1987, provided you work for a local authority or council in New Zealand or work for an associated company or organisation that is involved in the New Zealand local government sector, or you are an immediate family member of any of these people.

Once you are a Member, even if you leave your employer for whatever reason, you are entitled to belong as a Personal Member for as long as you wish.

It is a plan that will invest and accumulate savings which are held individually on your behalf in trust for you until you are eligible to receive New Zealand Superannuation (currently age 65) or five years membership in the scheme, whichever is the later.

Not only does this accumulate savings towards your retirement but can continue to be used and managed throughout your retirement, well beyond age 65.

Our approach to responsible investment, including environmental, social and governance considerations is to have an average of 10% of our overseas equities to be specifically invested in socially responsible investment funds. Details can be found in the sections that describe each of our different investment funds.

The Automatic Fund is a fund, which as you grow older will automatically and smoothly change your target investments to a more conservative investment mix.

The Automatic Fund has been designed solely for the purpose of retirement savings and is exclusive to members of these schemes.

Each of these four funds has a different investment objective and pursues a different investment strategy. Your return will depend principally on the investment option chosen by you.

The different objectives mean different proportions are invested in different assets. However, the objectives of these funds as set by the Scheme's Trustee from time to time, are indicated by the asset allocations applicable, and currently can be summarised as follows:

Within each of these asset classes, the current target asset allocation of each Fund has a range of investments including overseas equities (hedged, un-hedged and socially responsible investment funds), Trans-Tasman equities, property, overseas and New Zealand fixed interest securities and cash. Currently the target asset allocation for overseas equities includes 10 % investment in socially responsible investment funds. The target asset allocation of these Funds is set out in the table below.

These asset allocations take into account the Funds’ objectives and the effects of the 2007 legislation changes, which include that assets on average for the Growth, Balanced and Income Funds can now be expected to be invested for a much longer term. This means for these Funds that it is now appropriate to make more use of Growth Assets, which although over time are more volatile, are expected to produce higher returns, on average, than Income Assets.

The Conservative Fund may suit a KiwiSaver investor who is looking to take advantage of the first home ownership withdrawal benefit and has for example a 3 – 5 year time horizon.

If you’re eligible, you’ll be automatically enrolled in a KiwiSaver scheme when you start a new job.

If you’re being automatically enrolled you have eight weeks to decide if you want to remain a KiwSaver member or opt out.

If your employer has chosen the SuperEasy KiwiSaver Scheme as its employer chosen scheme and you are automatically enrolled please complete our application form and a KS 2 form and submit them to your Human Resources Department. The KS 2 form is available in the IRD Employee Information Pack (KS 3) which can be obtained from your Human Resources Department/ Payroll Office or IRD.

If your employer is a participating employer of SuperEasy and you want to join the SuperEasy KiwiSaver Scheme and/or SuperEasy, complete this application form and a KS 2 form (from the IRD Employee Information Pack) and submit them to your Human Resources Department who will forward the application form to Civic Assurance.

If you are an existing KiwiSaver member and you are wishing to transfer from your existing SuperEasy scheme into the SuperEasy KiwiSaver Scheme complete our application form and send it into our office.

You can choose to join (opt in) the SuperEasy KiwiSaver Scheme if you’re already in a job. Please complete our application form and send it in to us. You also need to fill out a KS 2 form (from the IRD Employee Information Pack) and give it to your Human Resources Department/ Payroll Office.

If you’re self-employed, you’ll need to apply directly to us by completing our application form and send it to Civic Assurance.

If you’re not working or receiving a benefit, you may also be able to join the SuperEasy KiwiSaver Scheme; please apply directly by completing our application form and send it to Civic Assurance.

If you’re under the age of 18, you may also be able to join the SuperEasy KiwiSaver Scheme; please apply directly by completing our application form and send it to Civic Assurance.

You will receive an acknowledgement letter from Civic Asssurance as the administration and investment manager advising you of your plan details, including your individual password and access code to the Member Services section of the SuperEasy Web site: www.supereasy.co.nz

The SuperEasy KiwiSaver Superannuation Scheme was established on 15 June 2007 for New Zealand citizens and those eligible to be in New Zealand indefinitely, to provide superannuation benefits for those persons who have some connections with local government in New Zealand (whether as a local government employee or immediate family member of such a person). The Scheme has been registered with the Government Actuary, number KSS 10029. The Government Actuary has been replaced by the Financial Markets Authority (FMA) from 1 May 2011.