Many employers have provided workplace savings plans to their employees for many years. Such plans can:

• Help attract employees to work for your organisation;
• Encourage staff loyalty; and
• Help to increase productivity and motivation.
• The Terrace Financial Group provides comprehensive advice to a number of New Zealand’s largest employers and their employees. Services include investment advice, financial planning and insurance planning in addition to the day-to-day management of their workplace savings plans.

We can help you with all aspects of workplace savings plans: planning implementation and the day-to-day operation and integration with KiwiSaver where employees want to take up this Government retirement savings initiative.

The advent of KiwiSaver takes the concept of workplace savings to a whole new level.

What is KiwiSaver?

KiwiSaver is a voluntary work-based savings initiative that makes it easier for you to save for your future.  KiwiSaver make it easier to save because money is put into a KiwiSaver scheme from your weekly, fortnightly or monthly pay.

Once you join KiwiSaver your savings are locked-in until you reach the age of eligibility for New Zealand Superannuation (currently 65), or for five years for people who join after age 60.

KiwiSaver is Changing

Please refer to the AMP KiwiSaver Scheme Investment Statement Supplement and the KiwiSaver section of AMP's website for details of the legislative changes to KiwiSaver, which take effect from 1 April 2009.  Further information is also available on the Inland Revenue website.

Who can join?

You can join KiwiSaver if you’re:

• Under the age of eligibility for New Zealand Superannuation  (currently 65),
• A New Zealand citizen, or entitled to live in New Zealand  indefinitely, and
• Living or normally living in New Zealand.

Enrolment in KiwiSaver will be automatic for all those starting a new job (with some exceptions), although employees automatically enrolled will have the chance to opt out (within a specified timeframe).  Other people can choose to opt in to KiwiSaver.

How can we help you?

Whether you're an employee or an employer, we can help you work through your KiwiSaver options and give you help and advice.  For more information on KiwiSaver, please contact us.

A disclosure statement is available on request and free of charge.