Expect a super life with SuperLife for KiwiSaver - TSB bank's KiwiSaver solution
Welcome to TSB Bank’s KiwiSaver solution provided by SuperLife's KiwiSaver scheme ("SuperLife")
You are logged on to the TSB Bank home page of the SuperLife website. Here you will find the information you need to join SuperLife as a KiwiSaver member of the arrangements referred to as TSB Bank's KiwiSaver solution.
By clicking on the links to the left of the text, you will move from TSB Bank's KiwiSaver solution home page to the main SuperLife website. There you will find additional information about KiwiSaver in general, details of SuperLife and a profile of SuperLife Limited - the provider of TSB Bank's KiwiSaver solution.
To join TSB Bank's KiwiSaver solution, please print and complete the forms from this TSB Bank home page. Please ensure that you read the TSB Bank KiwiSaver Solution investment statement attached to these forms.
Expect to know what KiwiSaver is:
KiwiSaver is an exciting government initiative to encourage individuals to save for their retirement. KiwiSaver is voluntary and New Zealand citizens and permanent residents under the age of 65 are able to join. In an effort to encourage people to join, the government will contribute $1,000 (known as a kick-start) and will subsidise a KiwiSaver account with a "member tax credit" of up to $10 per week.
Our KiwiSaver solution: SuperLife
As part of our promise to bring real service to banking, TSB Bank is committed to being involved in KiwiSaver. It is with this in mind that we have carefully chosen a KiwiSaver provider to ensure your retirement savings will be working for you. SuperLife Limited is 100% New Zealand owned and a KiwiSaver scheme provider. TSB Bank's KiwiSaver solution is provided through SuperLife Limited's KiwiSaver scheme and offers employers, employees, non-employees and children, low cost professionally managed retirement savings funds.
To join SuperLife for KiwiSaver (TSB Bank's KiwiSaver solution)
If you are a new employee, aged 18 to 64, the law requires that you are auto-enrolled in KiwiSaver. You must contribute 3% of your gross taxable pay from day one of your employment.
You may opt-out after two weeks (day 14) and before the end of eight weeks (day 56). You can opt-out after 8 weeks only in exceptional circumstances. If you do not opt-out, you will be required to save the minimum for at least a year. To opt-out you must complete the IRD form KS10.
If you decide to stay a member and not opt-out, you should complete the TSB Bank's KiwiSaver solution membership form and send it to SuperLife.
Other employees under 65
Any other employee under 65, can join KiwiSaver, but has to “opt-in”. To opt-in:
- If you are 18 to 64: complete the IRD KiwiSaver deduction form (KS2) and give it to your employer and complete the TSB Bank's KiwiSaver solution membership form and send it to SuperLife.
- If you are under 18: complete only the TSB Bank's KiwiSaver solution membership form and send it to SuperLife.
If you are not an employee, e.g. you are self-employed, not working, or if you are a child under 18 years of age, you can join KiwiSaver by applying direct to a KiwiSaver provider. You can do this by completing the TSB Bank's KiwiSaver solution membership form or the TSB Bank's KiwiSaver solution membership form - for children and, if applicable, SuperLife's KiwiSaver Direct Debit form. Once completed send them to SuperLife.
Choose TSB Bank's KiwiSaver solution with SuperLife
You can choose which KiwiSaver scheme your savings go to. If you do not choose a KiwiSaver provider, the IRD will randomly allocate you to a default provider and your contributions will be invested in a default investment strategy. This may not be the best option for you.
Simplifying the KiwiSaver process
Employers are required to provide new employees (and existing employees on request) with a KiwiSaver pack from the IRD. The IRD pack outlines the choices they have and what will happen if they don’t make a choice. Employers will derive the most benefit by selecting a preferred KiwiSaver scheme for its employees.
SuperLife (TSB Bank’s KiwiSaver solution) makes it easy for you and your employees to enjoy the benefits of KiwiSaver. Your employees will avoid having the IRD assign them to a random KiwiSaver provider who’ll set them up with a default investment strategy that is unlikely to suit their needs. SuperLife simplifies the enrolment process, reducing the KiwiSaver compliance demands on you, the employer. It also enables you to provide your employees with the opportunity to make an informed choice.
Choose a provider - SuperLife
The government incentives associated with KiwiSaver – the $1000 kick-start and member tax credit of up to $521.43 per year, together with the requirement for employers to contribute, will result in more employees wanting to join and will increase the demands on the employer. Choosing SuperLife for your employees makes good commercial sense and will allow you more time and freedom to focus on what you do best - manage your business. SuperLife will:
- Simplify the process for you the employer.
- Reduce the complexity for employees.
- Provide employees with better information and more options, allowing them to make better decisions that give them better outcomes.
- Reduce on-the-job distractions to employees with most being in the same scheme.
Simply complete the TSB Bank's KiwiSaver solution chosen provider advice form and mail it to SuperLife or fax it to (09) 375 9801. We will do the rest. Once we receive your form, we will send you the TSB Bank KiwiSaver Solution information packs which you can distribute to your employees. If you need any help just call us on 0800 TSB KIWI (0800 872 549), or email us at email@example.com.
For further details:
- Brochure - Make KiwiSaver simple for you and your employees
- Application form - Select SuperLife for KiwiSaver (TSB Bank's KiwiSaver solution) as the chosen KiwiSaver scheme for your business
TSB Bank's KiwiSaver solution document library
- Investment statement - the SuperLife investment statement for the TSB Bank KiwiSaver solution
- Investment options - the SuperLife investment options
Forms for employers:
Forms for individuals:
- TSB Bank's KiwiSaver solution membership form
- TSB Bank's KiwiSaver solution membership form for those under age 18
- TSB Bank's KiwiSaver solution investment option election form
For more information, contact TSB Bank's KiwiSaver solution on 0800 TSB KIWI (0800 872 549) or email firstname.lastname@example.org.
This information is not an Investment Statement for the purposes of the Securities Act 1978. No money is being sought, and no applications will be accepted or money received, unless the subscriber has received a SuperLife Investment Statement. The Investment Statement is available from TSB Bank Limited and SuperLife Limited. The TSB Bank KiwiSaver solution forms part of SuperLife's KiwiSaver scheme registered under the KiwiSaver Act 2006 and is provided by SuperLife Limited. TSB Bank Limited is involved in marketing and distributing its KiwiSaver solution, however, it is not a promoter of SuperLife's KiwiSaver scheme as defined in the Securities Act 1978. TSB Bank Limited is not providing any advice about the TSB Bank KiwiSaver solution for the purposes of the Investment Advisers (Disclosure) Act 1996. TSB Bank Limited is to receive an administration fee from SuperLife Limited in respect of each member of SuperLife who joins under the TSB Bank KiwiSaver solution. TSB Bank Limited does not guarantee or underwrite the capital value of any contribution made to SuperLife or any investment return, benefit or other amount associated with the TSB Bank KiwiSaver solution. An investment in the TSB Bank KiwiSaver solution does not represent a deposit with, or other liability of, TSB Bank Limited. For more information or for a copy of the Investment Statement, visit www.tsbbankkiwisaver.co.nz or phone 0800 TSB KIWI (0800 872 549).