How to choose the Fund that is right for you

The National Bank KiwiSaver Scheme is administered and managed by OnePath (NZ) Limited (the "Scheme Provider") and distributed through The National Bank of New Zealand.

Lifetimes option

In the Lifetimes option your contributions will be invested into the investment fund ("Fund") that matches your current Lifetimes age group. By selecting the Lifetimes option on the application form, you will automatically transition through the various Funds when you reach the pre-determined age milestones. When you join the National Bank KiwiSaver Scheme you'll go into the Lifetimes option automatically, unless you choose your own Fund, or if we have not been provided with your date of birth, in which case you will default into the Conservative Fund.

The table below shows how the Lifetimes option works and the Fund each age group is invested in. For example, within a month of your 46th birthday, your investment will be switched from the Balanced Growth Fund to the Balanced Fund. You can opt in or out of the Lifetimes option at any time by completing a Switch Request Form.

Note: From time to time the age ranges applying to the various investment Funds included in the Lifetimes option may change, and investment Funds relating to certain age bands may be added or deleted. If such changes are made we will communicate these to members who have selected the Lifetimes option. The Lifetimes option has been designed on a general basis and does not assess information about your personal financial situation. Therefore if you require personalised financial advice, or if you require help at any time, please call Wealth Direct on 0800 629 325. All investments in the Funds involve risk, which may result in the loss of money invested. Please refer to the Taxation section of the National Bank KiwiSaver Scheme Investment Statement for an explanation of the tax implications applicable when switching Funds (including when your investment is automatically switched to another Fund as part of the Lifetimes option).

National Bank KiwiSaver Scheme Choices

If the Lifetimes option doesn't suit your individual needs, you can choose how your money is invested.

The National Bank KiwiSaver Scheme offers six Funds designed for different needs. Five of the Funds invest in different mixes of asset classes.

What does each Fund offer?

You can select your Fund depending on your individual situation.

Read the information below to find out more about each National Bank KiwiSaver Scheme Fund and decide which Fund is best for you.

Growth Fund

Balanced Growth Fund

Balanced Fund

Conservative Balanced Fund

Conservative Fund

Cash Fund

The Cash Fund invests in interest-bearing bank deposits with one or more New Zealand registered banks.

A description of each Fund and its benchmark allocation to each asset class is set out above, as well as the aggregate permissible ranges. The benchmark is each Fund's long-term target allocation to each asset class. Excluding the Cash Fund, the actual asset allocations will vary from the benchmarks due to market movements, or the Manager varying the allocations away from each benchmark at times, with the aim of managing risk, increasing potential returns or managing cashflow requirements.

Changes from each benchmark allocation may potentially be significant in certain market conditions but are restricted by the ranges shown. The benchmarks and the ranges may vary from time to time as agreed between the Trustee and the Manager.

*View the benchmarks and current specific individual asset class ranges for each of the funds.

The National Bank KiwiSaver Scheme Investor Profile Questionnaire

If you can't decide which National Bank KiwiSaver Scheme Fund to invest in, and you believe the Lifetimes option is not appropriate for you, this quick questionnaire may help you make your choice.

The National Bank KiwiSaver Scheme Investor Profile questionnaire has five questions with multiple-choice answers.

The questionnaire has been designed as a generic guideline tool and relies on the accuracy of your answers. Please take your time to understand each question and provide realistic and honest answers. The questionnaire does not assess information about your personal financial situation, therefore if you require personalised financial advice, or if you require help at any time, a Wealth Direct Authorised Financial Adviser is only a phone call away on 0800 629 325.

Before you start, do you plan on using your savings for a first home buyer's withdrawal?

GTSTL is the Trustee and currently the Issuer, OnePath is the Scheme Provider, Promoter and Administration and Investment Manager, and ANZ is the Distributor of the Scheme. Units or interests in the Scheme do not represent deposits or liabilities of ANZ. Units and interests are subject to investment risk, including possible delays in repayment and loss of income and principal invested. No entity* guarantees (either partially or fully) the capital value or performance of any products issued or managed by OnePath, including the Scheme.

*Please note, this includes OnePath, ANZ, Australia and New Zealand Banking Group Limited, GTSTL, their respective directors, any member of their respective groups of companies and any other person.

Further information and copies of the Investment Statement for the Scheme are available on request, free of charge, from any branch of the National Bank (part of ANZ) or by contacting National Bank Managed Funds on 0800 656 888.

Your Wealth Direct Authorised Financial Adviser’s disclosure statement, prepared under the Financial Advisers Act 2008, is available on request and free of charge by contacting your Wealth Direct Authorised Financial Adviser

First home buyer's withdrawal

If you meet the eligibility criteria for a first home withdrawal, you are able to withdraw your available KiwiSaver balance (excluding the $1,000 kick-start and the member tax credit). This withdrawal is paid directly to your solicitor for the purpose of purchasing your first home. To qualify for a first home buyer's withdrawal you must meet the following criteria:

1. at least three years has passed since the Inland Revenue received your first contribution, or you have been a member of one or more KiwiSaver schemes for at least three years; and
2. you have not made a withdrawal from a KiwiSaver scheme for the purchase of a home before; and
3. the property you are purchasing is, or is intended to be, the principal place of residence for you or for you and your family and is either a fee simple estate, stratum estate (freehold or leasehold), cross lease estate (freehold or leasehold) or a leasehold estate; and
4. prior to applying for a first home withdrawal, you have not previously owned a fee simple estate, stratum estate (freehold) or cross lease estate (freehold) before whether alone or jointly with another person, i.e. have never previously purchased a property in New Zealand.

Second-chance home withdrawal benefit

To qualify for a second-chance home buyer's withdrawal you must meet the following criteria:

1. you meet the requirements of 1 – 3 above for a first home withdrawal; and
2. the Housing New Zealand Corporation is satisfied that your income, assets and liabilities represent a financial position that would be expected of a person who has never owned a property.

Why does age matter?

The age of an investor indicates the amount of time the investor has until they start to draw down on their investment. Investors become eligible to withdraw their accumulated KiwiSaver savings as a lump sum when they qualify for NZ Super, currently the later of age 65 or after five years' membership. Therefore, with KiwiSaver an investor's current age is an appropriate indicator of their time horizon.

Why do long term goals matter?

Essentially, the longer an investor's time horizon, the greater the investment risk they can afford to take on. Higher-risk investments like shares and property can deliver returns less than term deposits or at times negative returns. However, for investors with a longer-term horizon, studies have shown that a well-diversified investment of higher-risk ('growth') assets can outperform lower-risk ('income') assets over the long term.

Why do you ask about negative results over a one-year period?

Studies have shown that investors often sell their investments at the worst time, after a period of negative returns. This means they subsequently miss out when the market rallies after a fall. Growth assets are expected to earn more than income assets, but they are also much more susceptible to short-term losses. A portfolio of growth assets may not be appropriate for an investor who is averse to such losses.