Important information for ANZ Default KiwiSaver Scheme members

2 November 2021

As you may know, from 1 December 2021 ANZ will no longer be a default KiwiSaver scheme provider. This means if you’re a member in the ANZ Default KiwiSaver Scheme and haven’t chosen a fund, you will be automatically transferred to one of the Government’s new or re-appointed default KiwiSaver scheme providers – unless you contact us before 1 December.

This only affects ANZ Default KiwiSaver Scheme members. If you’re in the ANZ KiwiSaver Scheme, or OneAnswer KiwiSaver Scheme, there’s no change.

What it means if you’re in the ANZ Default KiwiSaver Scheme

What this means for you depends on whether you’ve chosen a fund or not. You’ve chosen a fund if you’ve contacted us to:

  • Confirm you want to remain in our Conservative Fund (where your money was automatically invested in when you were first enrolled in the scheme).
  • Switch to one of our other funds.

If you’ve chosen a fund

Good news – your KiwiSaver account isn’t affected at all. You’ll continue to be in invested in the ANZ Default KiwiSaver Scheme and have your money looked after by some of the best investment managers in the business.

You might have also heard that from 1 December 2021 we’re closing the ANZ Default KiwiSaver Scheme to new members. This doesn’t affect your KiwiSaver account either. We’ll continue to look after your money and ensure it’s working hard for you, just like we currently do. 

If you haven’t chosen a fund

From 1 December 2021, your KiwiSaver account will be automatically transferred to a Balanced Fund with one of the Government’s new or reappointed default KiwiSaver scheme providers. 

To make sure you’re prepared, here’s what you need to know: 

  • The Government will reallocate you to one of the new or reappointed default KiwiSaver scheme providers and Inland Revenue will let you know who this is. If you have any questions about your KiwiSaver account, you’ll have to get in contact with your new provider.
  • From 1 December 2021, any withdrawal applications you want to make will have to be made through your new provider. If you’re planning to make a withdrawal from your KiwiSaver account after 1 December 2021, we suggest you get in touch with us before then, so we can talk to you about what to expect and help ensure your withdrawal goes smoothly.  
  • We’ll transfer your KiwiSaver balance to your new provider within 75 days following 1 December 2021. Until this happens, you’ll continue to see your balance in ANZ Internet Banking and the ANZ goMoney app.
  • You won’t be charged any fees to transfer out of the scheme, but we will have to deduct any tax you owe before you move providers. To make sure you pay the right amount of tax, we recommend you check your prescribed investor rate (PIR) is up to date.
  • If you want to remain with ANZ, you’ll need to call us before 30 November 2021 and confirm which fund you want your money invested in.  

Not sure if you have chosen a fund?

If you’re not sure if you’re a default member or what fund your money is invested in, we’re more than happy to let you know. You can call our dedicated KiwiSaver team on 0800 736 034 Monday to Friday, 8am-6pm we’re here to help.

Important information

ANZ New Zealand Investments Limited is the issuer and manager of the ANZ Default KiwiSaver Scheme. Important information is available under terms and conditions on our website. Download the ANZ Default KiwiSaver Scheme guide and product disclosure statement or enquire by calling 0800 736 034.