$1 billion
$1 billion is an important number. In January 2013, the total savings balances of members in SuperLife reached $1 billion. Equally important, over the last ten years, we have paid out just over $1 billion of retirement savings to our members. Thank you for the confidence you have shown in us. Over the last ten years, we have consistently grown and are one of the few superannuation schemes that continues to grow.
2013 investment seminars start in April
The 2013 series of investment seminars throughout the country starts in April. This year, the focus is on "improving the health of your savings and investments" and incorporates a general investment market update. The seminars are free and you can bring a friend or family member.
Full details can be found here.
Statements
As a member you can choose to receive your statements by email and set the frequency (e.g. weekly, monthly etc.). Electronic statements are normally sent within 1 business day of the end of the period. It is a great way to stay informed. Also, all statements are stored on the website and can be accessed at any time.
Thinking about your retirement
If one of your 2013 resolutions is to get your investments and retirement savings on track, our booklet Thinking about your retirement may help. It is one of the many guides available on the SuperLife website. While it may not be a best seller, it will be a good read over the coming colder nights!
KiwiSaver - minimum 3% contribution
From 1 April 2013, the minimum employee and employer contribution increased from 2% to 3% of total taxable earnings. The employer contribution is subject to ESCT tax. The 3% minimum does not apply to non-employees. Employees who have been in KiwiSaver for at least 1 year can choose at any time to go on a contributions holiday by advising the IRD. If you are not in KiwiSaver and want to learn more, take a look at our investment statement or call us for further information.
KiwiSaver - member tax credit
KiwiSaver's financial year runs from 1 July to 30 June. Each year in July, the government pays a KiwiSaver subsidy of up to $521.43. It is at the rate of $1 for every $2 you save. It applies each year from age 18 until your KiwiSaver retirement age. A proportionate payment is made in your first and last years. To get this maximum, you need to have saved $1,043 in the year. If you will not have saved $1,043 by 30 June this year, you can make a lump sum contribution to top it up but it must be received by us before 30 June.
Review your PIR tax rate
Each year in April, you should check that your PIR tax rate is the correct rate for the next year. PIR tax rates can be 10.5%, 17.5% or 28%. Further information on how to calculate your PIR rate can be found here.
Investment markets
From an investment perspective, the year ended 31 March 2013 was a year where cash returns remained low and bonds performed well, but not as well as shares and property. While there were several contributing factors to the good share market returns, it is probably better to view it as "normal" market fluctuations. With shares, you expect a combination of good and bad years as shares are for the long-term. As a rule, we do not think investors should exit shares if the market declines and should also hesitate in rushing into shares when the market has been positive. Details of the returns of each option are below.
All returns quoted are after-tax at the top tax rate and after investment fees. An individual's returns may vary from the above due to cash flows and different tax rates. Past performance does not indicate likely future performance.
