KiwiSaver for employers
The BNZ KiwiSaver Scheme aims to support our customers' future ambitions by helping them be good with money – whether it's employers looking to offer a KiwiSaver scheme, or employees looking to save for their retirement.
As an employer, you're not expected to be an expert in all matters relating to KiwiSaver. But by choosing to partner with BNZ, you'll have access to our specialist knowledge for your business.
Selecting a scheme for your employees to join also means you may have more of your employees being managed by one KiwiSaver scheme provider, potentially making the administration of KiwiSaver within your workplace a whole lot easier.
What's an employer-chosen KiwiSaver scheme?
This is where an employer has contracted with a KiwiSaver scheme directly, any new employees joining KiwiSaver for the first time will be enrolled into that scheme (unless they've chosen a KiwiSaver scheme of their own).
If you haven't set-up an employer-chosen KiwiSaver scheme and your employee hasn't chosen a particular scheme, they'll be enrolled into one of the default schemes.
Why choose the BNZ KiwiSaver Scheme for your employer-chosen KiwiSaver scheme?
By choosing the BNZ KiwiSaver Scheme as your employer-chosen KiwiSaver Scheme, you'll have access to our specialist resources for your business. This will make it simple and easy for you to fulfil your employer KiwiSaver obligations. What's more, there's no cost associated with doing so. It'll also show your employees that you're committed to helping them to save for their retirement.
There are many other great benefits for both employers and employees.
- Your business will have access to the BNZ Investment Team for specialised support on any KiwiSaver-related questions you and your employees may have.
- You'll have a single point of contact for all KiwiSaver enquiries.
- We'll provide you with copies of the BNZ KiwiSaver Product Disclosure Statement for you to give your employees.
- If your company already banks with BNZ or would like to, all your financial services will be looked after by the same organisation.
- Your employees will have access to a BNZ Authorised Financial Adviser, who'll be able to give them personalised financial advice, if they need it.
- Easy access to all the information your employees will need to make an informed decision about joining a KiwiSaver scheme.
- Internet Banking will allow your staff to view and manage their BNZ KiwiSaver Scheme account online (if they are/or become a BNZ customer).
- Your employees will receive consistent messages about the KiwiSaver savings initiative.
Did you know?
Employers selecting a KiwiSaver scheme for their employees are deemed not to be providing financial advice and the employer will not have a financial obligation if the KiwiSaver scheme fails.
How to choose the BNZ KiwiSaver Scheme
It's easy to choose the BNZ KiwiSaver Scheme as your employer-chosen KiwiSaver scheme. Just complete the Employer-chosen scheme form PDF 85KB and return it to your BNZ Partner, or send the completed form to us by:
Freepost BNZ KiwiSaver Scheme
Private Bag 92208
We'll take care of the rest.
What happens next?
Once we've received your completed form, our team will advise Inland Revenue that you've selected the BNZ KiwiSaver Scheme as your employer-chosen KiwiSaver scheme. Inland Revenue will notify you once it has updated this information on its system (this process can take up to four weeks).
What you need to do once you've chosen the BNZ KiwiSaver Scheme as your employer-chosen KiwiSaver scheme
Once the BNZ KiwiSaver Scheme has been appointed, whenever you provide an employee (new or existing) with a KiwiSaver information pack, you must also give them:
- The BNZ KiwiSaver Scheme Product Disclosure Statement PDF 1.7MB.
- A written statement advising them you have an employer-chosen KiwiSaver scheme and if they do not choose their own KiwiSaver scheme they'll be allocated to the BNZ KiwiSaver Scheme.
We'll send you copies of the BNZ KiwiSaver Scheme Product Disclosure Statement and a template of a letter you can use.
We're here to help you
If you require any further information or you or your employees have any questions then please contact us on 0800 269 5494.
If you want to talk to us about why you should choose the BNZ KiwiSaver Scheme as your employer-chosen KiwiSaver Scheme, please contact your BNZ Partner.
For more information on your roles and obligations when implementing KiwiSaver in your workplace, please refer to the Inland Revenue's KiwiSaver employer guide online.
BNZ Investment Services Limited, a wholly owned subsidiary of BNZ, is the Issuer and Manager of the BNZ KiwiSaver Scheme. Download a copy of the BNZ KiwiSaver Scheme Product Disclosure Statement PDF 1.5MB, or pick up a copy from your local BNZ store.
Investments made in the BNZ KiwiSaver Scheme do not represent deposits or other liabilities of BNZ or any other member of the National Australia Bank Limited group, and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. None of BNZ, any other member of the National Australia Bank Limited group, the Supervisor, any director of any of them, the Crown or any other person guarantees (either fully or in part) the performance or returns of the BNZ KiwiSaver Scheme or the repayment of capital.
BNZ Authorised Financial Advisers' Disclosure Statements are available on request and free of charge.