Fees

Under myFutureFund, a fixed dollar administration fee may be deducted from the FutureFund Account each month.  In addition a percentage of assets administration fee, the investment managers' fees and the compliance costs are deducted from the investment returns before they are credited to your FutureFund Account.

Part of SuperLife’s philosophy is to keep our fees low – no one receives a commission. This lets parents, relatives and friends save cost effectively for a child's future.

The myFutureFund fixed dollar administration fees are as follows:

• If the Member is in SuperLife's KiwiSaver scheme: There is no fixed dollar administration fee for members under 18.  From the Member’s 18^th birthday¹ – the fixed dollar administration fee becomes $60 a year ($5 a month) until the Member is 25.
• If the Member is not in SuperLife's KiwiSaver scheme: The standard fixed dollar administration fee under SuperLife applies.  This is $80 a year ($6.67 a month).  The fee is deducted from the Member's FutureFund Account. 

Other costs

Percentage of assests administration fee

Under myFutureFund, a percentage of assets administration fee of 0.1% of assets (i.e. 10 cents per $100) is charged each year.  This is deducted proportionately throughout the year from the investment earnings before they are credited to the Member's FutureFund Account.

Investment manager

Separate to the administration fees, SuperLife charges the investment management fees payable to the investment managers.  These are deducted from the investment returns throughout the year before they are credited to the Member's FutureFund Account.  Details of the fees of the managers are set out in the investment statement and the SuperLife facts - directory.

In-fund

The compliance costs of SuperLife are deducted from the returns before they are credited to a member's FutureFund Account.  These are currently limited to 0.02% of the assets each year (i.e. 2 cents per $100). 

Tax

myFutureFund is part of the SuperLife registered superannuation scheme.  SuperLife is a PIE (Portfolio investment entity).  As a PIE, taxable investment income credited to the FutureFund Account is subject to tax at the Member’s PIR rate (prescribed investor rate).  The default PIR rate is 28%. 

However, for many myFutureFund Members, the correct PIR will be 10.5% because they would have earned less than $14,000 in one of the last two years. 

• Read more about PIR's. 
• Advise SuperLife of the current PIR rate for a Member.

¹The fee applies from the 31^st March on or after the Member’s 18^th birthday.