Retirement Savings Scheme supported by the New Zealand Government.

The National Bank KiwiSaver Scheme is designed to help you save for your retirement now. It is a long-term investment, which provides you with a choice of funds to invest in.

Key Features

• A one-off $1,000 Government contribution to your first KiwiSaver scheme.
• Member contributions will be matched by the Government up to $20 per week (approximately $1,040 per annum) in the form of a tax credit paid in cash annually to the member's KiwiSaver account*.
• A ‘Lifetimes’ option - transitions you through a range of investment funds based on your current age.
• You choose the contribution rate - either an amount equal 4% or 8% of your gross salary or wages (note that contributions must be either 4% or 8%).
• Up to half of your contributions may be able to be diverted to pay your mortgage, once you have been contributing to a KiwiSaver scheme for twelve months*.
• A first-home deposit subsidy for eligible investors* - after three years (up to $1,000 for each year of membership to a maximum of $5,000).
• ’Contributions holiday’ – you can take a ‘Contributions holiday’ once you’ve been making payments into the scheme for at least twelve months. Holidays can be for three months to five years, after which contributions will resume unless a further ’Contributions holiday’ is applied for.
• You don't need to do anything once you've signed up - your savings are automatically deducted from your salary or wages each payday, or the date of your direct debit (note: direct debit contributions can't be accepted until 1 October 2007).
• Tax free employer contributions - employer contributions of up to the lesser of the employee's contribution or 4% of salary or wages (excluding employer superannuation contributions) are exempt from tax
• Subsidised fees - the Government will to make an ongoing contribution which is currently $40 per eligible member per year towards the administration and management costs, so your savings can grow faster.

Note: if you don't have a regular income, you can contribute at a rate of $12.50 per week via a direct debit. If you do earn a salary or wages then at least 4% will be deducted from your gross earnings.

*Conditions will apply and not all members will qualify.

Other Features

• Enrolment is generally automatic if you are aged between 18 and 65 years and commence new employment from 1 July 2007*. If you are automatically enrolled you can choose to ‘opt-out’ between two and eight weeks after starting the new job. Any contributions already deducted will be refunded. You can also choose to ‘opt-in’ to a KiwiSaver scheme at any time after 1 July 2007.
• A KiwiSaver scheme can be selected in one of three ways, in this order:
  - You can select an approved scheme that is available
  - Your employer can select a ‘preferred’ KiwiSaver scheme for use by staff. This means if you do not select a scheme yourself, you will automatically be joined to the scheme selected by your employer if you start a new job after 1 July 2007*
  - If neither of the above happens, a ‘default provider’ will be allocated by Inland Revenue for employees who are automatically enrolled. The default fund in the scheme is expected to be a low cost, low risk, basic investment that may over time produce lower returns compared to self selected or preferred schemes that employ more sophisticated investment strategies.
• Your savings are ‘locked in’, taking away the urge to dip in to your savings. Your funds are generally locked away until you reach the age of eligibility for New Zealand Superannuation (currently 65), or you’ve been in a KiwiSaver scheme (or 'complying superannuation fund') for five years, whichever comes later.

*Some exceptions apply e.g. if you are already a KiwiSaver member.

• Not sure about how to select an investment fund? As well as a 'Lifetimes' option, you can also work through which fund is right for you . If you're interested in understanding investment risk there is also a section covering this, and it describes what each of the funds invest in.
• Use the Retirement Calculator to work out how much you need to save, to reach your retirement goals.
• Have a question about Kiwisaver? We have a detailed frequently asked questions section to help.  If you question isn't here, you can call us on 0800 156 020.
• If you're an employer, we have a separate section which includes how to select The National Bank as your preferred supplier of KiwiSaver.

For more information, you can call our Managed Funds team on 0800 156 020, Monday to Friday, 8.30am to 5.30pm or visit any National Bank branch.

Copies of the National Bank KiwiSaver Scheme Investment Statement (including the application form) are available as PDFs.

You'll need Adobe Acrobat Reader to read the PDF version. If you don't have it, don't worry - it's free. Just follow this link to the Adobe site to download a copy.

This information is intended to get you thinking about your investment goals. It is not intended as investment advice because it does not address individual circumstances. We suggest you seek independent advice before you make any investment.

A copy of the National Bank KiwiSaver Scheme Investment Statement is available as a PDF, or you can request one to be sent to you by calling 0800 156 020. You'll need Adobe Acrobat Reader to read the PDF version. If you don't have it, don't worry - it's free. Follow this link to the Adobe site to download a copy.

Guardian Trust Superannuation Trustees Limited is the issuer of National Bank KiwiSaver, ING (NZ) Limited is the Administration and Investment Manager and The National Bank of New Zealand, part of ANZ National Bank Limited, is the Distributor. Units in the National Bank KiwiSaver Scheme do not represent deposits or other liabilities of ANZ National Bank Limited. Units are subject to investment risk, including possible delays in repayment and loss of income and principal invested. No member of ANZ National Bank Limited Group, ING Group, Guardian Trust Superannuation Trustees Limited, its parent and their respective directors or any other person guarantees or secures (either partially or fully) ING (NZ) Limited and its subsidiaries or the capital value or performance of The National Bank KiwiSaver Scheme or any other products issued or managed by them.

Read our general disclosure statement and our disclosure statement prepared under the Securities Markets Act 1988.