Kiwi Wealth Super Scheme

    The Kiwi Wealth Super Scheme was closed to new members on 4 October 2023 and wound-up effective 31 December 2023. Information contained on these pages is intended for persons who were members at 4 October 2023 only.

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    Scheme Wind-up

    With the introduction of KiwiSaver in 2007, demand for non-KiwiSaver retirement schemes such as the Kiwi Wealth Super Scheme (Scheme) has declined. In light of this, the decision was made to stop accepting new members to the Scheme as of 4 October 2023, and ultimately wind up the Scheme, effective 31 December 2023.

    The Scheme operated as usual up until 30 November 2023. Withdrawals and transfers out of the Scheme continued to be processed as normal until that date. Contributions into the Scheme continued to be processed up until 31 December 2023 (including any contributions accrued up to this date for members of participating employers).

    After 31 December 2023

    If you had not already withdrawn or transferred your savings to another retirement savings product by 30 November 2023, you will not be able to withdraw or transfer your savings until the wind-up process has been completed. This process is expected to take around three months.

    The wind-up process involves selling the investments held by your chosen fund(s) and holding your investment in cash for the duration of the wind-up process. No fees will be charged after the wind-up date.

    Wind-up activities will be completed as soon as possible, within approximately three months after the wind-up date. If you have provided a completed Wind-up form, we're aiming to make an interim payment of approximately 95% of your savings in accordance with your instructions by early February 2024. Towards the end of March 2024, we will make a final payment of your remaining balance once the final wind-up financial statements have been completed.

    If you were a member on 31 December 2023, you will be sent a copy of the wind-up financial statements.

    UK Pensions

    The information in this section is only applicable to members who have transferred a UK Pension into the Scheme or have initiated a transfer.

    From 4 October 2023, the Scheme ceased being a Qualifying Recognised Overseas Pension Scheme (QROPS).

    You will not be subject to any UK Government tax or surcharges as a result of the Scheme losing its QROPS status. However, unless you are eligible to withdraw your UK Pension transfer amount, you must transfer your UK Pension to another New Zealand scheme that has QROPS status.

    Whether you are eligible to withdraw your UK Pension transfer amount without UK Government tax or surcharges will depend on your personal circumstances. We recommend you seek independent advice before making any decisions.

    If you'd like help selecting another QROPS provider, MoveMyPension is a financial adviser who we partner with, that specialises in helping people with their UK pension requirements. Any costs related to the advice will be disclosed to you before you engage their services and Fisher Funds will not receive any benefit. Visit movemypension.co.nz to find out more.

    A list of current QROPS schemes can be found on His Majesty’s Revenue & Customs (HMRC) website.

    As required by HMRC, following the Scheme ceasing to be a QROPS, details of all persons who were a member at 4 October 2023 who made a UK Pension transfer have been provided to HMRC.

    For more information on UK transfers, please see our Kiwi Wealth Super Scheme Wind-up and Closure FAQs.

    Key documents

    As the Kiwi Wealth Super Scheme is closed to new members, there is no current Product Disclosure Statement document on issue. The last Product Disclosure Statement prior to closure can be obtained via the the Disclose Register under 'Kiwi Wealth Super Scheme'.

    Kiwi Wealth Super Scheme Trust Deed
    Kiwi Wealth Super Scheme SIPO

    Annual reports

    Kiwi Wealth Super Scheme Annual Report 2023
    Kiwi Wealth Super Scheme Annual Report 2022
    Kiwi Wealth Super Scheme Annual Report 2021
    Kiwi Wealth Super Scheme Annual Report 2020
    Kiwi Wealth Super Scheme Annual Report 2019
    Kiwi Wealth Super Scheme Annual Report 2018

    Financial statements

    Kiwi Wealth Super Scheme Final Financial Statements December 2023
    Kiwi Wealth Super Scheme Financial Statements 2023
    Kiwi Wealth Super Scheme Financial Statements 2022
    Kiwi Wealth Super Scheme Financial Statements 2021
    Kiwi Wealth Super Scheme Financial Statements 2020
    Kiwi Wealth Super Scheme Financial Statements 2019