SuperLife

Understanding the Annual KiwiSaver Statement

1. Amount that your KiwiSaver account increased for the year to 31 March 2019

2. Your contributions

Contributions that 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 2019, 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 2019.

5. Since you joined to 31 March 2019

Gives a summary of your account movements for all years since you joined the SuperLife KiwiSaver scheme.

6. Total fees

Administration 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.

KS Statement

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).

For example

John invests $10,000 in SuperLife Balanced Fund on 4 February. The fund charge on 4 February is 0.50%. For 4 February, the daily fund charge was $0.14 (0.50%/365 times $10,000), bringing the balance to $9,999.86. On 5 February, the fund made investment earnings of $100.  For 5 February, the daily fund charge was $0.14 (0.50%/365 times $10,099.86) bringing the balance to $10,099.72.  The total fund charge is the total of the daily fund charges.

Over the year, John paid other charges of $30.

 

This example applies only to SuperLife Growth 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.

See the “Other Information – Fees” document on the offer register at www.business.govt.nz/disclose  for further information about fees.

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