Pay less tax and fees by transferring your EXISTING SUPER to your Grosvenor KiwiSaver Scheme today!
DON’T MISS OUT ON GOVERNMENT INCENTIVES TO BOOST YOUR KIWISAVER ACCOUNT THAT YOUR CURRENT SCHEME MAY NOT BE RECEIVING
All KiwiSaver members receive $1,000 when they join. The Government will also match members’ savings up to $20 per week ($1,042.86 per year) as a Member Tax Credit. You can join KiwiSaver as well as be a member of another superannuation scheme. However, you can only get the member tax credit on contributions made to a KiwiSaver scheme or a “complying” superannuation fund.
In addition, from 1 April 2009 employers are required to match their employees’ contributions up to 2% of pay.
Each year that someone isn’t in KiwiSaver means they miss out on up to $1,042.86 in Government matching as well as matching from their employer.
TAKE ADVANTAGE OF LOWER FEES WHICH WILL IMPROVE YOUR RETURN!
The benefit of transferring your existing savings into KiwiSaver is the difference in fees which tend to be lower than traditional retirement savings products, as well as the extra Government contributions.
If you transfer your balance into KiwiSaver the funds will be locked in until retirement age, although this may not be an issue if your current scheme balance is intended to be retirement savings. You might decide that you are comfortable with a portion of your balance being locked in until retirement, so you need to discuss how this fits into your plans with a Grosvenor KiwiSaver accredited adviser.
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Would you enjoy having an extra $269,049 savings in retirement thanks to KiwiSaver! |
Key assumptions: The graph is based on a person, on an income of $50,000 before tax p.a., contributing 4% fortnightly to both a superannuation scheme and a KiwiSaver Scheme over a 35 year period. A transfer of $3,823 in year one of KiwiSaver has been factored in along with the associated KiwiSaver benefits. The Scheme return is assumed to be 6% after tax and fees (Average KiwiSaver fees of 1.17% versus average superannuation fees of 3%). While every effort to ensure the illustration is accurate and reliable, it is intended as a guide only. Rate of return is for illustrative purposes only; it is not guaranteed or promised.
ONGOING CONTRIBUTIONS ATTRACT GOVERENMENT BENEFITS!
For ongoing contributions you will also receive the attractive benefits provided by the Government. The graph above shows the impact of these for someone earning $50,000 per year and contributing 4% of their earnings over a 35 year period.
If KiwiSaver had been around when someone began contributing to an existing superannuation scheme, they would be significantly better off now, but it’s not too late to join and make up for lost time!
Click here to have a FREE analysis completed on the benefits of transferring your existing superannuation scheme to KiwiSaver.
*A copy of the relevant investment adviser disclosure statement is available on request and free of charge.
