ANZ New Zealand

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The About ANZ category contains the following sections:

Rates, Fees and Charges
 

ANZ KiwiSaver Scheme Fees and Charges

All KiwiSaver schemes charge fees to cover the costs of managing and administering your investment. For ANZ KiwiSaver (which is offered and managed by ING (NZ) Limited and distributed through ANZ) these include:

  • The Management Fee: This is a fee that covers the cost of investing your funds. The fee is calculated on the gross asset value of each Fund on each valuation day and paid monthly in arrears. The current management fee for each Fund is set out in the table below.
Fund % p.a.
  Conservative Fund 0.85% p.a.
  Conservative Balanced Fund 0.85% p.a.
  Balanced Fund 0.90% p.a.
  Balanced Growth Fund 0.95% p.a.
  Growth Fund 1.00% p.a.
  • The Trustee Fee: This fee is for the monitoring of ANZ KiwiSaver in the interest of all members. The current Trustee Fee can be up to 0.065% p.a. and is calculated on the gross asset value of ANZ KiwiSaver on each valuation day and paid quarterly in arrears.
  • The Administration Fee:
    • Each ANZ KiwiSaver member must pay a monthly Administration Fee to cover the day-to-day administration of member accounts. This is currently $2.00 a month and is deducted from the Fund that the member has the highest balance in.
  • Switching Fees:
    • Switches are transfers between investment funds within ANZ KiwiSaver either by switching the fund(s) your ongoing contributions are invested in and/or switching some or all of your existing investment between funds. You can make up to two switches a year for free. After that, the Manager may charge a Switching Fee. This can be up to $25 for each switch. The Switching Fee will be deducted from the Fund your investment is switched from.
For further information on how and when these fees are charged, and the expenses payable, please see the ANZ KiwiSaver Scheme Investment Statement (PDF, 1.51mb).
Subject to the KiwiSaver Act 2006, ING (NZ) Limited may alter the fees set out above and introduce new fees from time to time.

No GST is currently charged on these fees.

ING (NZ) Limited and Guardian Trust Superannuation Trustees Limited may recover administration expenses from ANZ KiwiSaver.

Fees are deductible from income allocated to you by ANZ KiwiSaver and cannot be claimed in your personal tax return.

The Government’s current policy is that it will make an ongoing contribution of $40 per year per member to all KiwiSaver schemes towards fees. This may change in the future.

Guardian Trust Superannuation Trustees Limited is the Issuer of the ANZ KiwiSaver Scheme. ING (NZ) Limited is the Administration and Investment Manager of the ANZ KiwiSaver Scheme and is responsible for selecting and managing the assets held by the ANZ KiwiSaver Scheme, and for the overall administration and promotion of the ANZ KiwiSaver Scheme. The ANZ KiwiSaver Scheme is distributed through ANZ, part of ANZ National Bank Limited. Units in the ANZ KiwiSaver Scheme do not represent deposits or other liabilities of ANZ National Bank Limited. Units are subject to investment risk, including possible delays in repayment and loss of income and principal invested. No member of the ANZ National Bank Limited Group, ING Group, Guardian Trust Superannuation Trustees Limited, its parent and their respective directors or any other person guarantees or secures (either partially or fully) ING (NZ) Limited and its subsidiaries or the capital value or performance of any products issued or managed by them.

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