Choosing the Booster KiwiSaver Scheme as your Employer Chosen Scheme
- Any new employee who is automatically enrolled into KiwiSaver, and who does not choose a provider, will join the Booster KiwiSaver Scheme.
- Employees who are already KiwiSaver members with another provider, including any existing Employer Chosen Scheme, can also choose to transfer to the Booster KiwiSaver Scheme.
- Employees are not bound by their employer’s decision. They can change their KiwiSaver scheme provider or the fund(s) in which their contributions are invested at any time.
- Choosing the Booster KiwiSaver Scheme as your “Employer Chosen Scheme” does not create any additional legal obligation on the part of the employer.
Additional benefit of choosing the Booster KiwiSaver Scheme as your Employer Chosen Scheme
Accidental Death Benefit
Members of the Booster KiwiSaver Scheme may be eligible for an accidental death benefit. The accidental death benefit is available to members paying the standard member fee, and are under the age of eligibility for New Zealand Superannuation (currently 65). It is paid in the event of a member’s death as a result of an accident.
Enhanced Death Benefit
Where an employer has chosen the Booster KiwiSaver Scheme as their employer chosen scheme, eligible employees are entitled to an enhanced version of the accidental death benefit.
After six month’s membership of the Booster KiwiSaver Scheme:
- if an employee dies from any cause (other than from an accident) and the value of their member account was less than $15,000, the employee’s beneficiary(s) will be paid an enhanced death benefit that will “top up” the payment to $15,000.
- if the employee dies as a result of an accident and the value of their member account was less than $15,000, the employee’s beneficiary(s) will be paid the higher of the enhanced death benefit or the accidental death benefit payment.
Any “top-up” payment will be reduced by any payments already made due to significant financial hardship, serious illness, first home withdrawal, or as required by other enactments.
Eligibility criteria for the enhanced death benefit apply. Please contact us for further information on the accidental death benefit and enhanced death benefit.
Why choose the Booster KiwiSaver Scheme Asset Class Funds
While there are 16 funds available in the Booster KiwiSaver Scheme, we recommend that you invest in the Asset Class Funds.
- See fund features to learn about the benefits of the Asset Class Funds.
- See Booster KiwiSaver Scheme to learn about the investment philosophy and the Booster KiwiSaver Scheme.
Extra services provided by Stewart Group
- Text (SMS) balance updates to all members quarterly (or more often, if you prefer).
- Available to present to management/staff and answer any questions.
- Financial Road Map for management team members.
- We provide non-personalised advice (“class advice”) on the Booster KiwiSaver Scheme Asset Class Funds only. If you require personalised advice, we have five Authorised Financial Advisers who are qualified to provide you with comprehensive advice on a full range of financial service solutions including KiwiSaver and other investment options available in the Booster KiwiSaver Scheme. We do not charge a fee for KiwiSaver class advice. A fee does apply if you wish to receive personalised advice.
If you are interested in learning more about Employer Chosen Schemes please contact us.
A Disclosure Statement is available from your adviser, on request and free of charge.
Booster Investment Management Limited (Booster) is the issuer and manager of the Scheme. Public Trust is the supervisor of the Scheme. The relevant Product Disclosure Statements for the Booster KiwiSaver Scheme are available from your adviser or by calling Booster on 0800 336 338.
None of Booster Investment Management Limited, Public Trust, or any director, board member or nominee, or any related company or party of any of those entities, or any other person guarantees the Scheme’s performance, returns or repayment of capital.