How NZSuperFund Uses Value Adding Strategies To Increase The Money In The Fund

How NZSuperFund Uses Value-Adding Strategies To Increase The Money In The Fund

NZSuperFund was set up to reduce the tax burden on future taxpayers, regarding the cost of New Zealand superannuation. It invests Government contributions into investment opportunities to further grow the amount of money in the fund. In doing so, it takes into account three potential value-adding strategies.  Strategic Tilting As a value-adding strategy, strategic tilting…

Gender Inequality in Superannuation

Gender Inequality in Superannuation

Gender gaps can affect superannuation funds as much as they can affect salary rates. With barriers to entering into fields, lower hourly rates of pay, less hours worked and more unpaid labour affecting the amount of super New Zealand women are retiring with, as compared to men.   Currently, the median man’s KiwiSaver balance is…

What Tax do I pay on my KiwiSaver

What Tax do I pay on my KiwiSaver?

KiwiSaver contributions come from before-tax pay, at a set rate. The KiwiSaver scheme invests these contributions made by individuals so that those contributions can earn money straight away. This means that the profits that those contributions make may need to be taxed. To use the right tax rate, it’s important to know what kind of…

Choosing a fund for your Kiwisaver

Choosing a fund for your Kiwisaver

Individuals should regularly check whether their Kiwisaver fund is right for them and not shy away from switching funds to a more suitable one if they are not appropriate.  The following points are what you should focus on when reviewing your fund: Is the fund suited to your situation – depending on which stage of…

Growing your super fund

Growing your super fund

Your super is often the money you rely upon during your retirement. Therefore, if you feel that you have enough funds for day to day life, you may want to grow your super. There are many ways to do this:  Employee contributions: Contribute to your super through your pay, or discuss with a scheme provider…

Withdrawing from your KiwiSaver

Withdrawing from your KiwiSaver

The KiwiSaver scheme allows you to voluntarily save up so that when you retire, you are financially secure. However, situations can arise during which you find yourself needing the support of your KiwiSaver before retirement.  If you find yourself in one of the following situations, you are permitted to withdraw money from the KiwiSaver: Permanent…

Changing your KiwiSaver contribution rate

Changing your KiwiSaver contribution rate

Employees need to discuss changing their contribution rate with their employer, or alternatively, fill out the required forms if they are self-employed.  The default contribution rate is 3% of an individual’s pay, but employees can change to either of the following rates:  3%, 4%, 6%, 8%, or 10%. Although the contribution rate may only be…

Kiwisaver for the self employed

Kiwisaver for the self-employed

Employees are paid their KiwiSaver contributions through their employers, however self-employed individuals have to do things a little differently. If you are self-employed, you agree to your contribution level with your provider instead of contributing a percentage of your pay. Self-employed individuals who do not receive PAYE income will not be required to make any…

What are your NZ Super obligations

What are your NZ Super obligations?

New Zealanders who are currently receiving NZ Super payments, or are looking to apply need to be aware of the obligations that come with the scheme. It is important to be prepared for and prevent any penalties that may come your way in the case that you do not uphold these obligations. What are your…

Is NZ Super favouring retirees

Is NZ Super favouring retirees?

NZ Super has recently been accused to be unfair in its operations, as soon-to-be retirees doubled as high income earners are receiving large amounts of super payments despite not having the need for them. Recent statistics released to RNZ’s checkpoint show that over 30 000 of NZ Super recipients are earning double the median wage.…

Introducing Better Later Life

Introducing Better Later Life

Better Later Life – He Oranga Kaumātua 2019 to 2034 is the Government’s plan to provide older New Zealanders with a better quality of living. The strategy was launched on 1 November 2019. Designed to ensure everyone gets the chance to live well as they get older and create opportunities for everyone to participate, contribute…

Record keeping for KiwiSaver

Record keeping for KiwiSaver

Keeping track of KiwiSaver amounts for individuals and contributions for employers is key in ensuring you are receiving the money you are entitled to. Individuals can view contributions made through their My KiwiSaver account. My KiwiSaver shows contributions when they have been processed through an employers payroll report. This can take up to three months…