Our Fees are reducing again for the third year in a row from 1 April 2022
10 January, 2022
We lowered our fees on 1 April 2020 and then again on 1 April 2021 and delighted to announce a further reduction to our fees again this year, from 1 April 2022
Good news for members of our Schemes
- Low fees – when you join and saving towards retirement.
- After you leave Council – you still enjoy the same low fee structure that apply to Local Government staff – and receive any further fee reductions.
- This is important – as fees do not stop when you retire.
- Up until retirement – Schemes are long-term savings accounts.
- Throughout your retirement – Schemes transform to a long-term savings management account.
On 1 April 2020: We lowered our base management fee from 0.50% per annum to 0.44% per annum
On 1 April 2021: We lowered our base management fee from 0.44% per annum to 0.40% per annum
From 1 April 2022: We will be lowering our base management fee to 0.37% per annum.
There are three components that make up our total fee structure.
- We have the same low base investment management fee of 0.37% per annum for all our members irrespective of what fund or combination of funds they are invested in.
- For SuperEasy KiwiSaver – a monthly administration fee of $4.50 per month being $54.00 per year.
- For SuperEasy Employer Scheme – a monthly administration fee of $6.00 being $72 per year. Note: this monthly administration fee is not payable while you are working for a council.
- In-fund costs of between 0.02% – 0.03% pa.
To help make sense of these numbers we have set out some examples below.
| SUPEREASY KIWISAVER ACCOUNT BALANCE | $10,000 | $100,000 | $200,000 | $250,000 |
| Management Fee (0.37% per annum) | $37 | $370 | $740 | $925 |
| Annual In-Fund Fee (0.03% per annum) | $3 | $30 | $60 | $75 |
| Administration Fee $54 per year | $54 | $54 | $54 | $54 |
| Total Fee charged for the year | $94 | $454 | $854 | $1054 |
| SUPEREASY EMPLOYER SCHEME ACCOUNT BALANCE | $10,000 | $100,000 | $200,000 | $250,000 |
| Management Fee (0.37% per annum) | $37 | $370 | $740 | $925 |
| Annual In-Fund Fee (0.03% per annum) | $3 | $30 | $60 | $75 |
| Administration Fee – Zero or $72 per year | $72 | $72 | $72 | $72 |
| Total Annual Fee while working at Council | $40 | $400 | $800 | $1000 |
| Total Annual Fee having left Council | $112 | $472 | $872 | $1072 |