Your KiwiSaver provider must provide or publish various reports that you can use to stay informed about your KiwiSaver account.
The key documents to look out for are listed below, and we have included details on what each document will show and how you should find it.
|Report type||What does it show?||Where do you find it?|
|Annual personalised statement||Details of your personal KiwiSaver balance and the contributions received||Your KiwiSaver provider must provide you with this each year|
|Scheme annual report||The overall performance of the KiwiSaver scheme and what changes, if any, have been made to the scheme in the last year||Your KiwiSaver provider must give you a copy of the report, or a link to it on their website, within six months of your scheme's financial year end|
|Quarterly disclosure statements (for non-restricted or retail KiwiSaver schemes only)||Summaries for each investment fund in your scheme showing performance, fees and other key information for the 12 months ending that quarter||On your KiwiSaver provider's website - only for non-restricted or retail KiwiSaver schemes|
|Annual disclosure statement (for non-restricted or retail KiwiSaver schemes only)||Summaries for each investment fund in your scheme showing performance, fees and other key information for that year||On your KiwiSaver provider's website - only for non-restricted or retail KiwiSaver schemes|
Find out more about each of these reports and what you should check:
You have the right to request other information from your KiwiSaver scheme provider at any time. Other information you might choose to ask for can include:
An opportunity to view the scheme's trust deed (or receive a copy of it for a reasonable fee).
Each year your KiwiSaver provider must provide you with a statement showing your overall KiwiSaver account balance. It will also show the fees you have paid and details of both your contributions (and any employer contributions paid on your behalf) along with any Government contributions received.
Some KiwiSaver providers also provide website access so you can see your account balance at any time.
You can also keep track of yours and your employer's contributions that have been paid via Inland Revenue (before being passed onto your KiwiSaver account) by registering for My KiwiSaver on the Inland Revenue KiwiSaver website.
If you don't understand the statement or think there is an error, contact your KiwiSaver provider. You have the right to a clear explanation.
Do you know what fees you are paying?
The amount of fees you pay can make a big difference to the growth of your savings. So it is important to know what fees you are paying. If you are looking to compare the fees of other KiwiSaver schemes, it's important to compare the fees charged with the level of returns generated, the risk involved and the services provided.
Each year either the trustee or the manager of your KiwiSaver provider will prepare a scheme annual report. They must provide a copy of this to you within six months of the end of your scheme's financial year.
The annual report will show the overall performance of the KiwiSaver scheme - the size of the scheme's membership and total funds invested and the returns for each of the schemes investment funds. The report should also describe any changes made to the scheme in the last year and explain how the scheme's investments have performed against the scheme's goals.
The annual report will also have a reference to the scheme's registered financial statements for the period covered and either:
A copy of this report is sent to the FMA and we check it to ensure it has been prepared accurately and in accordance with the legislation.
Annual reports are required so that you can see how your scheme is performing and being managed.
As well as the manager's explanation about the performance of your scheme, you should check sections such as the trustees- or scheme provider's statement and that the auditor hasn't raised any issues.
If there are things you don't understand, we recommend you talk to your KiwiSaver provider. Alternatively, you may like to talk to an Authorised Financial Adviser.
Also see our information on:
Each quarter (at the end of March, June, September and December), and annually, at the end of March each year, KiwiSaver providers (of non-restricted or retail KiwiSaver schemes) must report on each investment fund within their scheme.
The quarterly and annual disclosure statements for each fund are required to be prepared in a simple, standardised format. They must be posted on your KiwiSaver provider's website. They show:
KiwiSaver providers of non-restricted or retail KiwiSaver schemes must send their quarterly and annual disclosure statements to the FMA. Providers of restricted KiwiSaver schemes are not required to produce these disclosure statements.
Every KiwiSaver provider of non-restricted or retail KiwiSaver schemes has to use the same format and present their performance and fees on the same basis. This means that in addition to having clearer information about your own KiwiSaver scheme's investment fund or funds, it's much easier to compare performance and fees across different funds.
You can find additional information about KiwiSaver on Sorted.
Before you make any decisions about switching funds, or transferring between schemes, you may like to talk to a financial adviser.