These Terms & Conditions apply to the use of this KiwiSaver Online website.
New Zealand Funds Management Limited is the issuer of the NZ Funds KiwiSaver Scheme.
To select your correct PIE tax rate you need to calculate your taxable income (which includes your worldwide income and may include income when you were not resident in New Zealand) and PIE income for each of the previous two income years (an income year is the period from 1 April in one year to 31 March the next year). The PIE tax rate applying to you is then determined based on the year which has the lower combined income amount. The PIE tax rates currently applicable and the income levels they apply to are:
|Taxable income||Taxable income + pie income||Rate|
|$0 — $14,000||&||$0 — $48,000||10.5%|
|$0 — $14,000||&||$48,001— $70,000||17.5%|
|$14,001 — $48,000||&||$0 — $70,000||17.5%|
|Over $48,000||&||Any amount||28%|
|Any amount||&||Over $70,000||28%|
Do you need help? Contact one of our support staff for free on 0508 733 337
or send an email to firstname.lastname@example.org
You can invest in the Scheme in one of two ways: using either the LifeCycle Process or the MemberChoice Process. It is generally intended that members will use the LifeCycle Process which ensures their investment is allocated across the Strategies based on their age. Your investment will automatically be allocated according to the LifeCycle Process, unless you select the MemberChoice Process.LifeCycle Process
The LifeCycle Process automatically allocates your investment across the Strategies each year, based on your age. Until you turn 55, your allocation across the Strategies will remain constant and your investment will be largely in the Growth Strategy. As you get closer to retirement, more of your investment will automatically be allocated to the Inflation Strategy and the Income Strategy. The chart on page 7 of the NZ Funds KiwiSaver Scheme Product Disclosure Statement shows the current Strategy allocations under the LifeCycle Process. You should be aware that these allocations may change from time to time.
The LifeCycle Process is designed for investors who want to remain invested through their retirement years and draw down on their savings regularly. It may not be appropriate for investors who plan to withdraw all or a significant portion of their investment when they reach the Qualifying Age or early into their retirement years. The LifeCycle Process may also be unsuitable for investors who plan to make a first home purchase withdrawal in the short to medium term.MemberChoice Process
If the LifeCycle Process is not suitable for you, you can invest using the MemberChoice Process. Under the MemberChoice Process, you choose which Strategy or Strategies your contributions will be invested in (and the proportion to be invested in each Strategy).
If you are thinking about opting out of the LifeCycle Process, you should discuss your options with a financial adviser or NZ Funds.
This KiwiSaver Online website (the Website) is provided by New Zealand Funds Management Limited (NZ Funds). Please read and understand these terms and conditions (Terms and Conditions) before you use the Website. These Terms and Conditions constitute an agreement between you, the website user, (‘you’, ‘your’) and NZ Funds. By accessing or using the Website you agree that you have read, understood and accepted these Terms and Conditions, and you agree to be bound by them.Changes
NZ Funds may change, suspend, or discontinue any aspect of the Website (including any service or content offered through the Website) at any time without notice. NZ Funds may change the Terms and Conditions at any time by publishing the changed Terms and Conditions on the Website.Financial Advice
The Website is an online fulfillment tool that enables you to join the NZ Funds KiwiSaver Scheme.
We highly recommend that you consult an authorised Financial Adviser before making an investment decision.
The Website should not be used as a substitute for legal, financial or other professional advice. To the extent that any of the Website constitutes financial advice, it is class advice only.The Help Function
NZ Funds provides support to users of the Website through the ‘help’ function in order to resolve any incidents or problems arising from its use. NZ Funds support is available during usual business hours. Reasonable measures have been taken to ensure that the help information NZ Funds provides is accurate, but we assume no legal liability or responsibility for help provided.Technical issues
NZ Funds uses reasonable efforts to maintain the Website and all associated data with technical, administrative and physical safeguards to protect against loss, unauthorised access, destruction, misuse, modification and improper disclosure.
The information you enter in the Website or access via the Website is stored by NZ Funds on its data servers. However, you acknowledge no computer system or information can ever be fully protected against every possible hazard and you agree that NZ Funds shall not be liable for any loss occasioned by unauthorised access, destruction, corruption, loss, misuse, or improper disclosure of your data.Hypertext links
By using any hyperlink in the Website, you may leave the Website and go to another website that is not under the control of NZ Funds. NZ Funds does not accept any responsibility or liability in respect of material contained in other websites and does not, by including any hypertext link, endorse the website or the information available at such a website. You enter those websites at your own risk and acknowledge that the content or accuracy of the information on those websites has not been reviewed by NZ Funds. The terms and conditions that apply to those websites may be different to these Terms and Conditions and those terms and conditions will govern the use of those websites and the use of information you access or obtain from those websites.Intellectual Property (Including Copyright)
Except where otherwise stated, the intellectual property rights (including copyright and trade marks) subsisting in the Website and in the content of the Website belong to NZ Funds. NZ Funds shall at all times retain ownership of the Website and such content and all copies of such items regardless of form.
The granting of access to the Website by NZ Funds does not create or imply a licence or permit you to reproduce, download, transmit and/or distribute any Website content in any form or by any means other than as permitted under these Terms and Conditions. You are permitted to download and print extracts of material or content from the Website for your own use for personal investment planning only.
In addition, certain information within the Website, or certain aspects of the Website, belongs to parties other than NZ Funds. Where this is the case, NZ Funds does not claim authorship or ownership of such information and duly acknowledges the intellectual property rights of such other parties.Warranties & Disclaimers
The Website has been compiled in good faith by NZ Funds. However, NZ Funds gives no guarantees (either express or implied) or warranties regarding the reliability, timeliness, completeness, fitness-for-purpose, or accuracy of:
Without limiting the generality of the foregoing, NZ Funds gives no warranty that:
In addition, to the maximum extent permitted by law, NZ Funds is not responsible for, and does not assume any liability for:
You use the Website at your own risk and solely in reliance on your own judgment and not upon any warranty or representation made by NZ Funds.
You also agree that you will use the Website only for the purposes and in the manner for which it is designed being for you to join the NZ Funds KiwiSaver Scheme.
You agree that the Website does not constitute financial advice.
To the maximum extent permitted by law, NZ Funds accepts no responsibility arising in any way, including in contract or tort (including negligence), for errors or omissions in the Website, or otherwise for any loss or damage of any kind at all (including consequential loss, financial loss, damages for loss of business opportunity, loss of revenue or profits or other economic losses) arising directly or indirectly out of the provision or use of, or inability to use, the Website, or from any action or decision taken as a result of using the Website or any information or material available through the Website.
If the exclusion of liability in the previous paragraph is held to be invalid in whole or in part, then NZ Funds’ total liability to you for all damages, costs, and expense (other than for any damage, cost and expense that cannot be limited at law) will not exceed the amount of one New Zealand dollar (NZD$1.00).
You agree to indemnify NZ Funds from and against all loss, damage, injury and expenses, (including legal expenses on a full indemnity basis) arising either directly or indirectly from a breach by you of the Terms and Conditions or your use of the Website.
These Terms and Conditions shall not limit or restrict any right you may have under New Zealand law, including under the Consumer Guarantees Act 1993, if it is applicable. However, notwithstanding the foregoing, if you use the Website or our services for business purposes, you agree that the guarantees provided under the Consumer Guarantees Act 1993 shall not apply to the Website or those services.Pre-population of certain information
You agree to the pre-population of certain data fields with personal information that you have previously provided to NZ Funds or your Financial Adviser.
You also agree that you will not change this personal information other than to correct errors.
You further agree that you will not allow another person to use the Website unless that person has logged in under their own name, and in particular you will not allow any person to overwrite or replace your personal details with theirs.User Privacy
NZ Funds respects the privacy of its clients. It understands the need to safeguard your personal and financial information and respects your rights under the Privacy Act 1993.
NZ Funds may track your activity within the Website and may use this information to seek to improve the Website or communicate the merits of certain products or services.Use of Google Analytics
NZ Funds uses Google Analytics website measurement software to help measure traffic patterns to, from, and within the Website. The services are used to anonymously aggregate website statistics, such as number of page views, the number of unique visitors, time spent in the Website, when users browse, and common entry and exit points into and from the Website. On occasion, random short surveys may also be used to collect further information about the users— participation in these surveys will be entirely voluntary.
All information is aggregated by Google Analytics and provided to NZ Funds to help us better understand usage of our public website — no individual users are identified. Google Analytics has been adopted as an accepted interactive measurement standard amongst many major Internet sites.Correspondence, Electronic & Otherwise
You consent to receiving communications from us electronically and you agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. You agree to be bound by any agreement reached through electronic communications in terms of the Electronic Transactions Act 2002. The Unsolicited Electronic Messages Act 2007 aims to stop people sending unsolicited electronic emails marketing or promoting goods and services.
By providing your email address to NZ Funds, you are consenting to receiving information (including information that markets or promotes our goods or services) from us by email. However, while NZ Funds would like to regularly communicate with you, electronically or otherwise, should you not want to receive emails that market or promote our goods or services from us, you will always have the ability to opt out by advising NZ Funds in writing or by email.General
Where any provision of these Terms and Conditions is unlawful, void or unenforceable for any reason, then if the provision would not be unlawful, void, or unenforceable if a word or words were omitted, that word or those words are severed from these Terms and Conditions, or in any other case that provision shall be severed from these Terms and Conditions without affecting the validity or enforceability of the remaining provisions of these Terms and Conditions.
These Terms and Conditions are governed by New Zealand law and are subject to the non-exclusive jurisdiction of the New Zealand courts.
By signing this Application Form, I confirm that:
I have received and read the Product Disclosure Statement.
To proceed you need to receive and read our Product Disclosure Statement. Our team will contact you during working hours or feel free to contact us directly on 0508 733 337.