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Understanding your annual statement

All members of the BNZ KiwiSaver Scheme receive an annual statement each year that contains information about your BNZ KiwiSaver Scheme account, for the financial year from 1 April to 31 March.

Below is an example of the annual statement with key information to help you understand it.

Kiwisaver annual statement 1Kiwisaver annual statement 2

 1. Your member information
Have this on hand if you ever need to contact us.

2. Prescribed Investor Rate (PIR)
The tax rate we hold for you. It’s used to calculate tax on your investment earnings. Check if you’re on the right PIR.

3. Opening balance
The value of your account at the start of the tax year.

4. Money in/out
This is a summary of the total money coming in and going out of your account during the tax year.

Investment earnings
Any income or losses achieved by your investment, minus Management Fees.

5. Your balance
The value of your account at the end of the tax year.

6. PIE Tax payable/refundable
The net tax owed, or due as a refund. Although it relates to the year ending 31 March, this amount was collected, or credited, in April.

7. Account summary
This shows what happened to your account over the 12-month period.

8. Management Fees
This shows what percent of management fees you have been charged based on the fund(s) you’re invested in. More about Management Fees

9. Your investment details
If you’re invested in more than one fund, this shows which funds your savings were invested in at the end of the tax year.