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The Scheme provides you with the following benefits, which are all paid as a
tax-free lump sum.
Death Benefit
Should you die while a Member of the Scheme, a death benefit will be paid out,
normally to your estate or to your dependants.
Retirement Benefit
From the time you are eligible to receive New Zealand Superannuation (currently age 65) or
five years membership in the scheme, whichever is the later you will be entitled to receive a
retirement benefit. You can elect to take this benefit at this time or continue to remain a
member of the scheme and take the benefit at any subsequent date.
Hardship Benefit
If you suffer significant financial hardship you may withdraw all or part of your funds
(excluding the Crown contribution and any accumulated Tax Credits) if the Trustee agrees.
Up Front Crown Contribution
You will eligible to receive an upfront Crown contribution of $1000 which will be credited
to your account when you first join a KiwiSaver Scheme.
Serious Illness Benefit
If you suffer serious illness you may withdraw all or part of your funds and any accumulated Tax Credits if the Trustee agrees. Subject to legislation being passed, the Crown Contribution may also be withdrawn.
Permanent Emigration
After one year or more from the time you have permanently emigrated from New Zealand you can
withdraw all of your funds (excluding all accumulated Tax Credits) or transfer them to a foreign superannuation scheme.
First Home Ownership Withdrawal
After you have been a member of the scheme for three years you can withdraw all or part of your
funds(excluding the Crown contribution of $1000 and any accumulated Tax Credits) if you are using this as a deposit on your
first home.
Mortgage Diversion
The Government announced in the May 2009 Budget the closure of the mortgage diversion facility to new applicants from 1 June 2009. From 1 April 2009 Mortgage Diversion was not available through SuperEasy KiwiSaver.
If you would like more information on any aspect of these benefits, this is
available in the Investment Statement,
Prospectus and Trust Deed.
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