1. Amount that your KiwiSaver account increased for the year to 31 March 2018
2. Your contributions
Contributions you have made by salary deduction and/or voluntary transfer.
3. Other net savings
Contributions by your employer, the Government and investment earnings.
4. Investment funds
Your chosen investment funds as at 31 March 2018, including the dollar value in each fund, actual % held in each fund and where you’ve selected future savings to go. It also shows the current total fund charges as an annual percentage of the investment as at 31 March 2018.
5. Since you joined to 31 March 2018
Gives a summary of your account movements for all years since you joined the SuperLife KiwiSaver scheme.
6. Total fees
A fee of $2.50 ($30 per annum) is deducted from your account balance each month.
Total fund charges
As well as the administration fee, there are fund charges based on the daily balance in each fund. The total fund charges include fees and costs charged by the manager, supervisor, custodians and external investment managers, as well as our regulatory and compliance costs. Some of the regulatory and compliance costs are apportioned as an estimated percentage for the year.
The total fund charges are proportionally charged and allocated each day. These charges have already been included in your investment earnings, which are net of fees (and any international taxes).
An example on the calculation of total fund charges
John invests $10,000 in SuperLife80 on 1 February. The Fund charge on 1 February is 0.60%. For 1 February, the fund charge was $0.164 (0.60%/365 times $10,000), bringing the balance to $9,999.84. On 2 February, the fund made investment earnings of $100. For 2 February, the fund charge was $0.166 (0.60%/365 times $10,099.84) bringing the balance to $10,099.67. The fund charge increased as the balance increased.
Over the year, John paid other charges of $30.
This example applies only to SuperLife80 in the SuperLife KiwiSaver scheme. If you are considering investing in other investment options or other SuperLife schemes, this example may not be representative of the actual fees you may be charged.