Who can join LifeSaver?
To join LifeSaver you must be a natural person who:
- is a New Zealand resident;
- is over 18 years of age; and
- meets the eligibility criteria to join their employer's LifeSaver scheme (if applicable).
When can I access my LifeSaver funds?
If you're an Employee Investor you'll need to refer to your employer's supplement to determine the circumstances in which you can make a withdrawal.
For Individual Investors:
Subject to any lock-in requirements, once you've reached the age of eligibility for NZ Super (currently 65) you can elect to make regular withdrawals on a fortnightly basis (currently a minimum of $250 applies). If you're under the age of eligibility for NZ Super you can make regular withdrawals on a monthly basis (currently a minimum of $500 applies).
Lump sum withdrawals
Subject to any lock-in requirements, once you've reached the age of eligibility for NZ Super (currently 65) you can also make a lump sum withdrawal at any time (currently a minimum of $500 applies). If you're under the age of eligibility for NZ Super you can only make one withdrawal in any 30 day period (currently a minimum of $500 applies).
Do you have a minimum $ contribution?
If you're an Employee Investor you'll need to refer to your employer's supplement for minimum contribution criteria. For Individual Investors there is no minimum contribution.
How are my savings in LifeSaver governed?
LifeSaver is governed by a Governing Document and regulated by the Financial Markets Conduct Act 2013. LifeSaver is made up of two sections. One is a scheme for individuals who have invested directly. This section is closed to new investors. The other section is a Workplace Savings Scheme that is open to employees of companies that have signed an agreement with Fisher Funds to provide a scheme for their workplace.
We provide detailed disclosure information to help people understand what they are investing in. Trustees Executors Limited is the supervisor of LifeSaver. The supervisor is responsible for ensuring we comply with the Governing Document and other LifeSaver rules. The supervisor holds the assets of LifeSaver on your behalf. None of the Government, the Supervisor, or us guarantee LifeSaver.
What information will be distributed to LifeSaver members?
Fisher Funds Management Limited (the manager of LifeSaver) updates the unit price of the investment funds within LifeSaver every business day on our website. In May / June of each year, members receive a detailed tax and transaction statement for the year ended 31 March. In August of each year, members receive the LifeSaver Annual Report. You can view your account online at any time.
Can I access my account online?
Yes you can. Our online portal is a great way to manage your LifeSaver account. This secure online facility allows you to:
- View your account balance and transaction details;
- Change your investment choice; and
- Advise us of any changes to your personal details.
If you haven't registered yet, we encourage you to do so. Registering is simple. If you've already provided us with your email address, just visit online.fisherfunds.co.nz/login, click on the 'Register' link, and follow the guided steps from there.
To complete the registration process, you will need your member number and plan number.
If you haven't registered your email with us or if you are having difficulty using this website, please call us on 0508 FISHER (0508 347 437) or email us and we'll be happy to help.
What fees does Fisher Funds Management Limited charge?
You will be charged fees for investing in LifeSaver. Fees are deducted from your investment, and will reduce your returns. If Fisher Funds invests in other funds, those funds may also charge fees. The fees you pay will be charged in two ways:
- regular charges (for example, annual fund charges). Small differences in these fees can have a big impact on your investment over the long term;
- one-off fees (for example, fees charged for investing or withdrawing from a fund or for other specific actions you take).
The table below shows our charges by fund. The annual fund charges are based on the fees and expenses from the 31 March 2021 audited financial statements. They are a reasonable estimate of the annual fund charges that are likely to be charged in the future.
In addition to the annual fund charges, you may also be charged from your LifeSaver account:
- an administration fee;
- a supervisor fee; and/or
- expenses for services such as legal and audit services.
Refer to your employer supplement (What are the fees?) for more information on these fees.
|New Zealand Fixed Income Fund
|Trans Tasman Equity Fund
Can I take a contributions holiday?
For Individual Investors, yes you can.
For Employee Investors, generally speaking you can take a contributions holiday by making a request in writing to your employer. Please note that while you're on a contributions holiday, your employer is not obliged to make employer contributions. If you have insurance as part of your employer's LifeSaver workplace superannuation scheme, a contributions holiday may affect your insured benefit. Please check your employer's supplement for more information.
Can I make lump sum contributions over and above my regular contribution?
For Individual Investors, yes you can. For Employee Investors, yes, generally you can. Please refer to your employer's supplement for more information.
How do I make regular contributions to my LifeSaver account?
Existing Individual Investors
By direct debit
We have a direct debit facility available allowing you to make regular investments into your investment fund(s). You can choose the amount you wish to invest and the frequency. Complete the Direct Debit Authority available from our website. We will deduct this amount from your account on the day indicated, until we receive instructions from you to suspend or stop your payment. Weekly and fortnightly direct debits are deducted on a Tuesday and monthly direct debits are deducted on the 15th of the month, or the next business day.
Once you become a member, your employer automatically deducts your contributions from your salary or wages. Your employer forwards your contributions to us and we apply them to your LifeSaver account at the latest available unit price.
Can I transfer funds from another NZ super scheme into my LifeSaver account?
You may be able to.
As a first step we suggest contacting your super scheme provider to check that they do allow the transfer of funds to other superannuation schemes and also whether there are any other fish hooks involved in an early transfer e.g. early withdrawal penalties. If you want to go ahead, then simply complete our transfer form, send it in to us and we'll organise the transfer into your LifeSaver account. Please also contact your existing super scheme provider for any forms that they require to be completed.
What happens if I leave my employer?
Existing Individual Investors
As your contributions to your LifeSaver account are unrelated to your employment status, this doesn't affect you.
You will be entitled to a benefit payment and will need to complete a withdrawal form. The type of benefit payment will depend on your reason for leaving your employer. For example, if you retire, you'll be eligible for a retirement benefit. If you resign, you'll be eligible for a resignation benefit. Please check your employer's supplement for more information.
I am an Employee Investor and I'm entitled to a benefit payment, what are my options?
There are a number of options available to you:
- You can transfer to another Fisher Funds investment. We offer a complete family of managed funds to align with your financial needs as you move through the many stages of your investing life; or
- You can withdraw your investment in your employer's LifeSaver scheme.
Can I transfer a UK pension to LifeSaver?
We currently cannot accept transfers from a UK pension scheme.