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The Aon KiwiSaver Survey as at 31 March 2015 Risk. Reinsurance. Human Resources.
The Aon KiwiSaver Surveyas at 31 March 2015
Risk. Reinsurance. Human Resources.
Aon KiwiSaver Survey
This quarterly survey is produced by Aon Hewitt New Zealand.
For over 20 years we have been compiling surveys of investment performance in New Zealand. With the introduction of KiwiSaver in 2007 we decided to broaden our surveys, which had
until now only covered wholesale funds, to also include KiwiSaver funds. We contacted all registered KiwiSaver providers and we believe we have put together one of the most
comprehensive KiwiSaver surveys currently in the market.
Our survey shows the returns for each fund over the last quarter, 12 months, 24 months, 36 months, 60 months, 72 months and 84 months. We have also included the asset allocation
details of each fund as at the survey date. This shows what proportion of each fund is invested in Shares, Property, Bonds and Cash.
Disclaimer
We asked each Provider to supply us with returns Gross of Tax and Net of Percentage-Based fees. This means that no allowance may have been made for other fees such as dollar-
based administration, audit, legal and trustee fees. We have not verified the information supplied by each Provider. This publication provides general information only and should not be
relied upon in making an investment decision. Investors should seek professional advice which takes into account their personal circumstances before making an investment decision.
No liability will be accepted for loss resulting from reliance on information contained in this report which proves to be inaccurate and/or incomplete. Disclosure of interest: Aon Hewitt acts
as the asset consultant for the Trustees of Aon KiwiSaver Scheme and several Employer KiwiSaver Schemes.
You should not use this survey to estimate your own return, which will be net of all fees, dependent on your PIR rate (10.5%, 17.5% or 28.0%) and affected by the timing and amounts of
your contributions. No part of this document may be reproduced without acknowledging Aon New Zealand as the source.
Aon Hewitt Investment Consulting
Other investment consulting services we provide include: ` • Establishing investment objectives for both our clients and investment managers
• Determining long-term investment strategies, in the form of benchmark portfolios and sector ranges, consistent with the investment objectives
• Determining the efficient frontier and risk/return profiles
• Asset/liability modelling
• Reviewing contractual agreements and legal documentation
• Assisting in the appointment of investment managers, by
• Establishing the selection criteria
• Identifying suitable investment managers
• Analysing investment managers' capabilities against the criteria
• Carrying out qualitative reviews 1
FUM Last Last Last Last Last Last Last
Manager ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
AMP Conservative Fund 227 2.6 12 8.8 14 6.6 12 7.0 11 6.5 10 6.7 13 6.7 5
AMP Default Fund 1,241 2.5 15 8.5 16 6.8 11 6.6 14 5.7 15 6.0 15 5.4 14
ANZ Conservative Fund 428 3.2 4 10.9 4 7.5 6 7.9 5 7.1 5 7.6 8 6.6 7
ANZ Default Conservative Fund 874 3.2 6 11.1 3 7.6 5 7.9 6 7.2 3 7.7 6 6.7 4
Aon KiwiSaver Russell Conservative 76 3.3 3 13.3 2 8.4 3 9.5 2 8.9 2 10.8 2 8.2 1
Aon KiwiSaver Russell 2015® Fund 5 3.3 2 13.4 1 9.0 1 9.9 1 9.0 1 11.5 1 7.9 2
ASB Conservative Fund 2,632 2.9 9 9.1 12 6.5 13 6.6 13 6.0 14 6.7 14 5.9 12
Company D 5 2.6 13 9.4 11 7.0 8 7.4 10 6.8 7 7.5 9
Fisher Funds TWO Cash Enhanced 581 2.5 16 8.8 15 6.5 14 6.9 12 6.1 12 6.8 12 5.7 13
Fisher Funds TWO Conservative 100 2.6 14 8.9 13 6.9 9 7.5 8 6.6 9 8.1 5 6.0 10
Generate Conservative 10 2.0 17 9.8 6
Grosvenor Conservative 103 3.0 8 9.7 7 5.7 15 6.4 15 6.0 13 7.1 11 6.0 9
Grosvenor Default 7 2.9 10
Mercer Conservative 925 3.1 7 9.6 9 8.5 2 8.1 3 6.8 6 8.6 3 6.8 3
Mercer Super Trust Conservative 1 3.3 1 9.6 10 8.2 4 7.6 7 6.4 11 8.6 4 6.0 11
OneAnswer Conservative Fund 332 3.2 5 10.8 5 7.5 7 8.0 4 7.1 4 7.7 7 6.6 6
Westpac Conservative Fund 1,591 2.7 11 9.6 8 6.9 10 7.5 9 6.7 8 7.3 10 6.1 8
Minimum 2.0 8.5 5.7 6.4 5.7 6.0 5.4
Median 2.9 9.6 7.0 7.5 6.7 7.6 6.3
Maximum 3.3 13.4 9.0 9.9 9.0 11.5 8.2
Conservative Fund Results
Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015
Conservative Fund Returns (%pa) Gross of Tax and Net of Percentage-Based Fees over the Last Seven Years
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Asset Allocation for Fund Managers
Aust Equities Int Equities Aust Prop Global Prop
Multi-Strat NZ Bonds Int Bonds Cash
Bottom Quartile of Returns Top Quartile of Returns
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FUM Last Last Last Last Last Last Last
Manager ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
AMP Moderate Fund 263 3.1 9 9.9 9 7.9 9 8.3 8 7.1 8 7.7 8 6.3 8
ANZ Conservative Balanced Fund 485 3.8 4 12.8 6 9.6 6 10.2 5 8.5 4 9.6 5 7.3 4
ANZ Default Conservative Balanced Fund 16 3.8 5 13.0 4 9.5 7 9.7 6 8.3 5 9.1 7 7.1 6
Aon KiwiSaver Russell Lifepoints®
2025 12 3.8 6 14.3 2 11.1 3 11.6 1 9.8 1 12.8 1 7.6 2
Aon KiwiSaver Russell Moderate Fund 14 3.7 8 14.2 3 10.5 4 11.1 2 9.6 2 12.2 2 8.1 1
ASB Moderate Fund 822 4.0 2 12.0 8 8.8 8 9.0 7 7.5 7 9.2 6 6.4 7
Mercer Super Trust Moderate 3 4.2 1 12.2 7 11.2 2 10.4 3 7.9 6 10.6 3 7.2 5
Milford KiwiSaver Conservative Fund 13 3.8 7 17.3 1 14.0 1
OneAnswer Conservative Balanced Fund 112 3.9 3 12.9 5 9.6 5 10.2 4 8.6 3 9.7 4 7.4 3
Minimum 3.1 9.9 7.9 8.3 7.1 7.7 6.3
Median 3.8 12.9 9.6 10.2 8.4 9.6 7.3
Maximum 4.2 17.3 14.0 11.6 9.8 12.8 8.1
Moderate Fund Results
Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015
Moderate Fund Returns (%pa) Gross of Tax and Net of Percentage-Based Fees over the Last Seven Years
Asset Allocation for Fund Managers
Aust Equities Int Equities Aust Prop Global Prop
Multi-Strat NZ Bonds Int Bonds Cash
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FUM Last Last Last Last Last Last Last
Manager ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
AMP Balanced Fund 602 3.8 22 11.6 22 9.7 22 10.3 21 8.3 19 9.3 22 6.4 20
AMP ANZ Balanced Plus Fund 134 4.7 8 16.4 5 13.4 5 13.8 4 10.9 4 12.7 5 8.6 2
AMP Moderate Balanced Fund 384 3.4 24 10.8 24 8.7 24 9.3 24 7.6 23 8.5 23 6.1 22
AMP Fisher Balanced Fund 23 2.6 26 11.0 23 9.9 21 10.3 22 7.9 22 9.6 21 6.5 19
AMP Nikko AM Balanced Fund 19 3.7 23 14.0 15 11.6 13 11.7 13 8.7 15 10.5 16 6.7 17
ANZ Balanced Fund 1,012 4.5 13 14.7 12 11.6 14 12.2 10 9.7 11 11.3 12 7.9 7
ANZ Balanced Growth Fund 833 5.0 4 16.5 4 13.6 3 14.3 3 10.9 3 13.1 4 8.4 4
ANZ Default Balanced Fund 46 4.4 14 14.9 9 11.5 16 11.6 14 9.3 12 10.5 15 7.3 11
ANZ Default Balanced Growth Fund 51 5.0 5 16.7 2 13.5 4 13.5 5 10.3 8 11.9 8 7.6 9
Aon KiwiSaver ANZ Balanced 21 4.4 15 13.5 16 10.8 19 12.1 11 9.8 10 12.5 7 8.7 1
Aon KiwiSaver Nikko Balanced 5 4.5 11 14.1 14 11.2 17 11.3 18 8.3 20 10.1 18 6.7 18
Aon KiwiSaver Russell Lifepoints® 2035 10 4.3 17 15.3 6 13.0 6 13.2 7 10.5 6 14.0 1 7.3 10
Aon KiwiSaver Russell Balanced 42 4.3 18 15.2 8 12.6 8 12.7 8 10.3 7 13.6 2 7.8 8
ASB Balanced Fund 629 5.0 6 14.7 11 11.5 15 11.4 16 8.7 14 11.2 14 6.8 14
Company C 57 5.9 1 14.4 13 11.8 11 11.3 19 8.1 21 9.8 20 7.1 13
Company D 24 4.1 19 13.0 20 10.9 18 11.7 12 9.2 13 11.2 13
Fisher Funds TWO Balanced 455 3.1 25 10.3 25 9.3 23 10.1 23 7.5 24 9.8 19 6.2 21
Grosvenor Balanced 288 4.0 20 12.7 21 8.6 25 8.7 25 6.3 25 8.4 24 6.1 23
Grosvenor SRI Balanced 15 4.3 16
Mercer Balanced 77 4.7 9 13.1 19 12.2 10 11.4 17 8.7 16 11.9 9 6.8 15
Mercer Super Trust Balanced 119 4.7 7 13.2 18 12.4 9 11.5 15 8.7 17 11.8 10 6.8 16
Milford KiwiSaver Balanced Fund 68 5.4 2 17.1 1 14.5 1 16.3 1 11.8 1
OneAnswer Balanced Fund 336 4.5 12 14.8 10 11.7 12 12.4 9 9.8 9 11.4 11 8.0 6
OneAnswer Balanced Growth Fund 308 5.1 3 16.6 3 13.8 2 14.5 2 11.0 2 13.2 3 8.6 3
Staples Rodway Balanced Fund 22 4.6 10 15.3 7 12.6 7 13.4 6 10.7 5 12.5 6 8.2 5
Westpac Balanced Fund 790 3.9 21 13.3 17 10.8 20 11.0 20 8.6 18 10.2 17 7.2 12
Minimum 2.6 10.3 8.6 8.7 6.3 8.4 6.1
Median 4.4 14.4 11.6 11.7 9.2 11.3 7.2
Maximum 5.9 17.1 14.5 16.3 11.8 14.0 8.7
Balanced Fund Results
Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015
Asset Allocation for Fund Managers
Aust Equities Int Equities Aust Prop Global Prop
Multi-Strat NZ Bonds Int Bonds Cash
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Balanced Fund Returns (%pa) Gross of Tax and Net of Percentage-Based Fees over the Last Seven Years
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FUM Last Last Last Last Last Last Last
Manager ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
AMP Aggressive Fund 210 4.7 14 13.7 18 12.2 15 12.8 14 9.2 13 11.1 14 5.5 15
AMP Growth Fund 465 4.3 19 12.9 20 11.3 17 11.8 18 8.8 15 10.3 16 5.7 14
ANZ Growth Fund 1,455 5.6 6 18.2 5 15.5 6 16.3 3 12.0 3 14.7 4 8.8 3
ANZ Default Growth Fund 45 5.5 8 18.4 3 15.5 5 15.3 4 11.2 4 13.3 8 7.8 4
Aon KiwiSaver Russell Lifepoints® 2045 10 4.7 11 16.0 10 14.7 7 14.5 6 11.0 5 15.0 2 7.0 8
Aon KiwiSaver Russell Growth Fund 22 4.7 13 15.9 11 14.2 8 14.1 8 10.9 6 14.5 5 7.5 6
ASB Growth Fund 635 5.9 4 16.9 7 13.9 11 13.6 9 9.6 11 12.8 9 6.8 9
Company D 5 4.5 18 14.0 16 12.6 13 13.4 10 9.7 10 12.4 11
Fisher Funds TWO Growth 170 3.3 22 11.1 22 11.1 18 12.2 15 8.3 16 11.8 12 5.9 13
Generate Growth 18 4.0 21 17.1 6
Generate Focused Growth 22 4.6 17 19.1 2
Grosvenor Balanced Growth 138 4.6 16 14.0 15 10.2 19 10.3 20 7.7 17
Grosvenor Geared Growth 5 6.6 1 19.6 1 14.0 9 13.1 11 7.0 18
Grosvenor High Growth 131 4.9 10 15.3 13 12.3 14 11.9 17 6.3 19 9.9 17 5.0 16
Grosvenor SRI Growth 14 5.3 9 13.1 19 7.5 20 10.3 19
Mercer High Growth 71 6.0 3 16.0 9 15.7 3 14.4 7 10.2 7 14.1 6 6.8 11
Mercer Super Trust Growth 12 5.6 7 14.8 14 13.9 10 12.8 13 9.3 12 12.6 10 6.8 10
Mercer Super Trust High Growth 9 6.1 2 16.0 8 15.8 2 14.5 5 10.2 8 14.0 7 6.7 12
Milford KiwiSaver Active Growth Fund 355 4.6 15 12.2 21 16.2 1 19.5 1 14.3 1 15.7 1 14.4 1
OneAnswer Growth Fund 224 5.7 5 18.2 4 15.6 4 16.4 2 12.1 2 14.8 3 9.0 2
Staples Rodway Growth Fund 11 4.7 12 13.8 17 11.7 16 12.1 16 9.0 14 10.8 15 7.3 7
Westpac Growth Fund 491 4.3 20 15.3 12 12.8 12 12.9 12 9.8 9 11.6 13 7.6 5
Minimum 3.3 11.1 7.5 10.3 6.3 9.9 5.0
Median 4.7 15.6 13.9 13.3 9.7 12.8 6.9
Maximum 6.6 19.6 16.2 19.5 14.3 15.7 14.4
Growth Fund Results
Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015Asset Allocation for Fund Managers
Aust Equities Int Equities Aust Prop Global Prop
Multi-Strat NZ Bonds Int Bonds Cash
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Growth Fund Returns (%pa) Gross of Tax and Net of Percentage-Based Fees over the Last Seven Years
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Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015 Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015
FUM Last Last Last Last Last Last Last FUM Last Last Last Last Last Last Last
Fund ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk Fund ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa) (%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
Aon KiwiSaver Milford 97.6 4.5 6 11.4 7 15.5 6 18.6 2 13.5 1 Grosvenor Capital Guaranteed 40.2 0.8 4
Fisher Funds TWO Equity 54.2 3.5 7 11.8 6 12.6 7 12.6 6 7.7 5 12.0 4 4.6 4 Grosvenor Enhanced Income 18.2 0.9 3 3.7 3 3.3 3 3.3 3 3.3 3 3.6 3 4.1 3
Grosvenor International Shares 6.6 5.4 4 17.3 4 16.9 3 13.8 5 Grosvenor Options Fund 75.5 0.7 5
Grosvenor Trans-Tasman Shares 4.7 4.9 5 5.7 8 -2.0 8 1.7 8 OneAnswer NZ Fixed Interest 5.3 2.6 2 8.9 2 3.6 2 4.8 2 6.2 2 6.5 1 6.0 2
Mercer Super Trust Shares 7.3 6.4 3 18.7 3 18.8 1 17.5 3 11.7 3 15.2 2 7.2 3 OneAnswer Int Fixed Interest 2.3 3.0 1 10.9 1 6.0 1 6.2 1 6.3 1 5.9 2 6.6 1
OneAnswer Australasian Shares 20.3 2.4 8 13.2 5 16.6 4 19.6 1 13.4 2 15.4 1 9.4 1
OneAnswer International Shares 30.5 6.9 1 22.9 1 18.3 2 16.1 4 10.1 4 12.6 3 7.3 2
OneAnswer Sustainable Growth 3.3 6.6 2 20.4 2 15.9 5 12.1 7 7.1 6 9.0 5
Please remember that these sector funds may invest their money in
very different ways and it is important when choosing an investment
to understand exactly what you are investing in.
Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015 Returns are Gross of Tax & Net of Percentage-Based Fees as at 31 March 2015
FUM Last Last Last Last Last Last Last FUM Last Last Last Last Last Last Last
Fund ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk Fund ($m) Qtr Rk Yr Rk 2 Yrs Rk 3 Yrs Rk 5 Yrs Rk 6 Yrs Rk 7 Yrs Rk
(%) (%) (%pa) (%pa) (%pa) (%pa) (%pa) (%) (%) (%pa) (%pa) (%pa) (%pa) (%pa)
OneAnswer Australasian Property 11.1 4.1 2 25.6 2 15.7 2 17.8 1 15.5 2 16.4 2 9.3 1 AMP Cash Fund 67.5 0.9 2 3.8 1 3.5 1 3.4 1 3.5 1 3.6 1 4.2 1
OneAnswer International Property 7.3 7.2 1 28.9 1 16.5 1 17.6 2 15.6 1 24.6 1 6.6 2 ANZ Cash Fund 208.4 0.9 1 3.7 2 3.3 5 3.2 7 3.1 8 2.9 9
ANZ Default Cash Fund 2.3 0.9 6 3.7 4 3.3 7 3.2 6 3.1 6 3.0 6 3.6 6
Aon KiwiSaver ANZ Cash Fund 3.4 0.8 12 3.1 12 2.7 12 2.7 12 2.7 12 2.7 12 3.2 11
Aon KiwiSaver Nikko Cash Fund 1.5 0.9 7 3.6 8 3.3 9 3.4 3 3.4 4 3.3 4 3.9 4
ASB - NZ Cash Fund 313.3 0.9 4 3.7 3 3.3 6 3.1 10 2.9 11 2.8 10 3.4 8
Fisher Funds TWO Preservation 23.9 0.8 10 3.6 7 3.3 3 3.4 2 3.2 5 3.2 5 3.7 5
Mercer Cash 9.6 0.9 5 3.6 5 3.3 4 3.2 5 3.5 2 3.5 2 4.1 2
Mercer Super Trust Cash 2.6 0.9 8 3.6 9 3.3 8 3.2 8 3.4 3 3.4 3 4.0 3
OneAnswer Cash Fund 23.7 0.9 3 3.6 6 3.2 11 3.1 11 2.9 10 2.8 11 3.3 10
Please remember that these sector funds may invest their money in Staples Rodway Conservative 22.0 0.8 11 3.3 11 3.4 2 3.3 4 3.1 7 3.0 7 3.5 7
very different ways and it is important when choosing an investment Westpac Cash Fund 240.6 0.9 9 3.5 10 3.2 10 3.1 9 3.0 9 3.0 8 3.4 9
to understand exactly what you are investing in.
Property
Equities Fixed Interest / Other
Cash
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My fund hasn't performed very well. What should I do?
Past performance is no guarantee of future performance.
It is important that you understand what you are actually investing in because while there are many different funds available they won't all be suitable for you.
We believe it is important to show you each fund's asset allocation, so that you know how much is invested in equities, property, bonds and cash.
The performance of your fund will depend critically on how much it invests in each of these asset classes.
Some funds may be invested in only a few shares, some funds may be invested in hundreds of shares.
If you are concerned, then consult an independent investment advisor to help work out what is best for you.
The chart below shows the range of annualised returns over all the funds in our survey in the last 7 years. From the chart we can see that all of the funds earned money over the
previous 7 years.
Eight funds earned between 2% pa and 4% pa and one fund earned between 14% pa and 16% pa.
The returns in your survey are different than the returns my KiwiSaver Provider is reporting. What's going on?
We asked Providers to give us returns that are gross of tax and net of percentage-based fees. This means that, generally, all expenses should have been excluded from the reported returns.
We did this to make as fair a comparison as possible between unitised schemes and non-unitised schemes (mainly company superannuation schemes).
You should not use this survey to estimate your own return, which will be net of all fees, dependent on your PIR rate (10.5%, 17.5% or 28.0%) and affected by the timing
and amounts of your contributions.
Why aren't my Provider's returns in the survey?
There are many reasons, not just poor performance, why a Provider may have chosen not to include their returns.
For example, several KiwiSaver schemes have only a few members and aren't open to the general public.
If your Provider isn't in the survey, then encourage them to submit their returns for future surveys.
What do the coloured bands on the graphs represent?
The top quartile, or top 25% of funds surveyed, will be plotted in green on the graphs. The bottom quartile, or bottom 25% of funds surveyed, will be plotted in blue on the graphs.
I'm thinking of joining KiwiSaver but there are so many Providers and so many funds, where do I start?
You should consult an independent investment advisor to help work out what is best for you.
Frequently Asked Questions
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Distribution of KiwiSaver Returns over the last 7 Years
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AMP KiwiSaver Scheme
ANZ KiwiSaver Scheme The 2014 Budget made no changes to KiwiSaver. The last time KiwiSaver was changed was in 2011,
ANZ Default KiwiSaver Scheme when the 2011 Budget changed KiwiSaver with the aim of reducing the cost to the Government of the
Aon KiwiSaver Scheme then-current incentives. By maintaining the kick-start and only halving the member tax credits,
ASB KiwiSaver Scheme KiwiSaver still remains an attractive proposition for members.
Fisher Funds TWO KiwiSaver Scheme However, the changes to Employer's Superannuation Contribution Tax (ESCT) reduced the amount
Generate KiwiSaver Scheme going to members' accounts and created more work for employers contributing to KiwiSaver schemes
Grosvenor KiwiSaver Scheme and superannuation schemes. These changes are covered in more detail below.
Mercer KiwiSaver Scheme
Milford KiwiSaver Plan
OneAnswer KiwiSaver Scheme ESCT rate changed
Staples Rodway KiwiSaver Scheme Up to 31 March 2011 Employer contributions to KiwiSaver schemes were tax free up to 2% of salary
Westpac KiwiSaver Scheme or wages. As part of the 2011 budget changes enacted, this exemption ceased from 1 April 2012
and employer contributions are now taxed at each employee's marginal tax rate, as follows:
ESCT threshold amount* Tax rate
$0 - $16,800 10.5%
$16,801 - $57,600 17.5%
$57,601 - $84,000 30.0%
$84,001 and over 33.0%
Company C These are private company KiwiSaver schemes *The ESCT threshold amount is the total of the employee's income plus
Company D that are not open to the general public the superannuation and KiwiSaver contributions made by the employer.
Member Tax Credits reduced
The amount of the Member Tax Credits (MTCs) reduced by half, meaning that members who contribute
at least $1,042.86 to their KiwiSaver scheme or complying superannuation fund each year will receive
MTCs of $512.43. MTCs are based on contributions made each year from 1 July to 30 June and the
reduction took effect in the 2011-2012 year.
Note:
Conservative Funds should have between 0% and 30% in growth assets, such as Equities and Property. KiwiSaver contribution rates increased
Moderate Funds should have between 31% and 45% in growth assets, such as Equities and Property. The minimum employee contribution rate to KiwiSaver schemes and complying superannuation funds
Balanced Funds should have between 46% and 70% in growth assets, such as Equities and Property. increased to 3% on 1 April 2013. This is now also the default contribution rate although members can
Growth Funds should have more than 71% in growth assets, such as Equities and Property. still elect to contribute at 4% or 8%. The employer contribution rate was also increased to 3% at the
same time.
List of Scheme Providers in Survey Last KiwiSaver Changes
KiwiSaver and Superannuation Changes
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Greg Lee
Actuary & Principal
+64 9 362 9825
Contact information About Aon Hewitt
Part of Aon plc, Aon Hewitt is the global leader in human resource consulting and outsourcing solutions. Our services focus on helping organisations mitigate risk in their workforce and realise the untapped potential of their employees. We also help individuals maximise their wealth to enable people to live the life they want.
In New Zealand, our team of experts partner with your organisation to develop and deliver people strategies that achieve positive business outcomes in the areas of:
• KiwiSaver and superannuation administration
• Actuarial and Investment consulting
• Talent, leadership and employee engagement
• Remuneration and incentives
• Total rewards
• Health and benefits
• Global benefits
• Aon KiwiSaver Scheme
• Aon Master Trust
With more than 30,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees. Aon Hewitt is the global talent, retirement and health solutions business of Aon plc.
For more information on Aon Hewitt, please visit aonhewitt.co.nz.
Copyright 2015 Aon New Zealand The information used to compile this survey has been provided by the investment managers or is from publically available sources. The information is provided for general information purposes only. It is given without knowledge of your individual circumstances and should not be used as a substitute for you seeking your own independent professional advice. No liability will be accepted for loss resulting from reliance on information contained in this report which proves to be inaccurate and/or incomplete.
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