There are some changes to your annual statement this year. New regulations have been introduced which require the disclosure of retirement balance projections for Members aged between 18 and 65 that have been a member of the Lifestages KiwiSaver Scheme for at least 1 financial year. You will find these on page 2 of your annual statement.
For our other members, there are regulated statements that have been included on page 2.
The projected balances are calculated using a standard formula that has been set by the Government. Inflation, wage growth and investment return rates (depending on the risk profile of your investment) are standardised across all KiwiSaver providers.
The project balance is indicative only and represents a projected balance expressed in current day dollars. Your final balance is likely to be materially different.
The projected balance is recalculated each year based on your contributions made over the previous financial year and your account balance.
You can model your projected balances at any time by using our calculator.
Investments in the Scheme do not represent deposits or other liabilities of FANZ or its parent SBS Bank (or any other member of the SBS Bank group), and are subject to investment risk. The investment risk includes possible delays in repayment and loss of income or contributions invested. The principal and returns of the Scheme are not guaranteed or secured in any way by FANZ or by its parent SBS Bank (or any other member of the SBS Bank group), the Government, the Supervisor, or any other person.