| Superannuation Product Comparison at a glance |
superSTART® |
kiwiSTART® Select |
kiwiSTART® Defined |
Our flexible, registered superannuation scheme (non-KiwiSaver) which offers earlier access to funds than KiwiSaver.
|
Our KiwiSaver scheme offering the choice to create and tailor your own portfolio by self-selecting direct investments or funds.
|
Our registered Portfolio Investment Entity (PIE) KiwiSaver scheme offering all the Government incentives within a tax efficient investment structure.
|
| Payment Structure |
Client makes payments directly to the scheme
|
Client makes payments via their employers PAYE system to the IRD. If non-working, self employed or a minor, then payments can be made directly to the scheme |
Client makes payments via their employers PAYE system to the IRD. If non-working, self employed or a minor, then payments can be made directly to the scheme |
Minimum employee
contribution
|
$100 per month with a balance of $1200 required to be held and maintained following 12 months of membership of superSTART |
2% of gross salary or wages. 2% Employer Contribution. The Government announced a proposal in the 2011 Budget which would involve changes to KiwiSaver contribution rates. Find out more
|
2% of gross salary or wages. 2% Employer Contribution. The Government announced a proposal in the 2011 Budget which would involve changes to KiwiSaver contribution rates. Find out more
|
| Age of entitlement |
Normal retirement date or early entitlement from age 55 years |
Age of entitlement to New Zealand Superannuation (currently 65 years) |
Age of entitlement to New Zealand Superannuation (currently 65 years) |
Maximum employee
contribution |
No maximum |
8% of gross salary or wages |
8% of gross salary or wages |
| Lump sum payments |
Permitted at any time subject to terms and conditions of scheme |
Permitted at any time subject to terms and conditions of scheme |
Permitted at any time subject to terms and conditions of scheme |
Personal tax issues on company
contributions
|
ESCT1 charged at similar rates to marginal tax rate
|
Tax credit of up to $10 per week ($521.43 per year), paid into KiwiSaver account. Employer contributions are ESCT1 exempt up to 2% of employees gross salary or wages until 31 March 2012 when these employer contributions will be subject to ESCT at the appropriate rate. Find out more
|
Matching tax credit of up to $10 per week ($521.43 per year), paid into KiwiSaver account. Employer contributions are ESCT1 exempt up to 2% of employees gross salary or wages until 31 March 2012 when these employer contributions will be subject to ESCT at the appropriate rate. Find out more |
| Other tax considerations? |
Will utilise PIE2 structures for investments where appropriate |
Will utilise PIE2 structures for investments where appropriate |
Is constructed as a PIE2 to offer a more tax efficient investment |
Can an employee change their
contributions?
|
At any time unless subject
to terms and conditions of
employer's scheme |
Yes, contributions can be either 2%, 4% or 8% of gross salary or wages.
The Government announced a proposal in the 2011 Budget which would involve changes to KiwiSaver. Find out more
|
Yes, contributions can be either 2%, 4% or 8% of gross salary or wages.
The Government announced a proposal in the 2011 Budget which would involve changes to KiwiSaver. Find out more
|
| Contribution holiday? |
At any time unless subject to terms and conditions of
employer's scheme
|
Contribution holidays permitted
after 12mths payments (3mths - 5yrs in duration) |
Contribution holidays permitted
after 12mths payments (3mths - 5yrs in duration) |
| Is this investment portable? |
Not portable |
Fully portable |
Fully portable |
| Is this investment transferable? |
Transferable to another registered superannuation scheme |
Transferable to another registered KiwiSaver scheme |
Transferable to another registered KiwiSaver scheme |
| What are the annual charges? |
Entry and withdrawal Fee
- 1.00% for contributions or withdrawals from Defined Portfolios Investment Options
- 2.50% for contributions or withdrawals from
Self-selected Portfolio
Custodial Fee
- 0.75%pa on Fixed Interest Fund
- 0.75%pa on Conservative Fund
- 1.00%pa on Balanced Fund
- 1.25%pa on Balanced SRI Fund, Growth Fund, Equity Fund or Self-selected Portfolio
|
Custodial Fee
- 0.75%pa on Fixed Interest Fund
- 0.75%pa on Conservative Fund
- 1.00%pa on Balanced Fund
- 1.25%pa on Balanced SRI Fund, Growth Fund, Equity Fund or Self-selected Portfolio
Admin Fee
|
Custodial Fee
- 0.75%pa on Fixed Interest Fund
- 0.75%pa on Conservative Fund
- 1.00%pa on Balanced Fund
- 1.25%pa on Balanced SRI Fund, Growth Fund or Equity Fund
Admin Fee
|
What investment choices do
contributors have?
|
- Self-selected Portfolio
- Defined Portfolios Unit Trusts
View the superSTART® Investment
Options Brochure
|
- Sef-selected Portfolio
- Defined Portfolios Unit Trusts
View the kiwiSTART® Select Investment Options Brochure
|
- Defined Portfolios Unit Trusts
View the kiwiSTART® Defined
Investment Options Brochure
|
Are there Government
incentives? |
Yes - reduced withholding tax to client's highest rate to a maximum of 33% on employer contributions |
Yes - $1,000 kick-start contribution. Member tax credit of up to $10 per week or $521.43 per year |
Yes - $1,000 kick-start contribution. Member tax credit of up to $10 per week or $521.43 per year |
| Find out more about these products |
Find out more about superSTART®
Join superSTART® now
|
Find out more about kiwiSTART® Select
Join kiwiSTART® Select now
|
Find out more about kiwiSTART® Defined
Join kiwiSTART® Defined now
|
| |
Please refer to the Investment Statement for further information |
Please refer to the Investment Statement for further information |
Please refer to the Investment Statement for further information |
Notes:
1 ESCT – Employer Superannuation Contribution Tax
2 PIE – Portfolio Investment Entities. KiwiSaver Schemes electing PIE registration will offer further tax effective investing to members who pay tax at 10.5% or 17.5%%. |