Why is there a refund payment to the IRD in my KiwiSaver portfolio?

The is typically for when the IRD realises the employee/employer/government contributions have been calculated and paid incorrectly. You may wish to contact Inland Revenue regarding the reason for the refund.

What if I want to take a break from contributing to KiwiSaver?

If you want to take a break from contributing to KiwiSaver, you can apply for a savings suspension (previously known as a contributions holiday) by contacting the IRD.

Please see the IRD website for full details.

What does the KiwiSaver Summary provide?

It provides a high-level overview of your portfolio, including details such as:

Your contributions – Contributions you have made, from the time you first joined KiwiSaver (includes if you joined KiwiSaver before switching to InvestNow).

Employer’s contributions – Contributions your employer(s) have made, from the time you first joined KiwiSaver (includes if you joined KiwiSaver before switching to InvestNow).

Government contributions – Contributions the government have made, from the time you first joined KiwiSaver (includes if you joined KiwiSaver before switching to InvestNow).

Other contributions – Any other contributions your employer(s) have made, from the time you first joined KiwiSaver (includes if you joined KiwiSaver before switching to InvestNow).

Gains/(losses) after fees – any gains or losses, after management fees, you have made in your KiwiSaver portfolio since joining the InvestNow KiwiSaver Scheme.

Withdrawals – any withdrawals from your KiwiSaver portfolio – for example it would include any refunds to Inland Revenue to correct contributions made via Inland Revenue, since joining the InvestNow KiwiSaver Scheme.

Tax refund/(paid) – any taxes paid/refunded since joining the InvestNow KiwiSaver Scheme. Note that this excludes any Portfolio Investment Entity (PIE) tax that is accrued but not yet paid or refunded.

You can change the period, for data supplied, by clicking the down-arrow in the top righthand corner of the Summary.

What are the fees for the InvestNow KiwiSaver Scheme?

InvestNow doesn’t charge any fees for you to invest in the InvestNow KiwiSaver Scheme. Fees that are charged vary by the underlying fund manager and can be found here.   Fees have been estimated using the information provided by underlying fund managers and by reference to the underlying fund’s disclosure documents.

Now that I am over 65, how do I withdraw money from my KiwiSaver portfolio?

Please send us an email (contact@investnow.co.nz) and we will send you a form to complete for the first time you request such a withdrawal – note that you will need to have the statutory declaration witnessed. 

The form, along with the deposit slip confirming your bank account, can be scanned and emailed back to us.

For any any subsequent withdrawals just email us we will process the it.

How can I update my Multi-Factor Authentication (MFA) preference?

There are now three options available to you, for receiving your unique passcode each time you login:

• Email
• SMS/Text
• Authentication App (NEW).

To change your MFA preference and/or switch to the Authentication App, follow these simple steps:

1) Log into your account

2) Click on the email address that appears in the top righthand side of the page:

3) Select “Security Settings“:

4) Select the “Disable MFA” option:

4) Sign out of your account:

The next time you login you will be presented with the ability to select from the three MFA options available to you.

1. Authenticator app – this will work with most common authenticator apps (Google, Microsoft, etc.). You will need to scan the QR code to set this up or alternatively enter in the set-up key to your app.
2. Email – you will be sent a code to your email address
3. SMS – you will need to enter in your mobile number and you will receive a code via text message

Select the one you want to use and follow the simple instructions:

Note:  You can repeat these steps should you wish to change your MFA preference at any time.

Is there a minimum or maximum number of funds I must have in my KiwiSaver portfolio?

The minimum is one, however there is no maximum ie you can select any combination of funds available in the InvestNow KiwiSaver Scheme to meet your investing goals and objectives.

Check here for the full range of funds available in the InvestNow KiwiSaver Scheme.

How often can I change the funds in my KiwiSaver portfolio?

You can change your KiwiSaver portfolio at any point and there is no limit on how many times you can change. Please note that a buy/sell transaction fee or swing price adjustment may apply when you buy/sell funds, depending upon the funds you have chosen.

How long does it take my KiwiSaver funds to be transferred to InvestNow?

Once you have completed your account opening, have selected the fund(s) under “My Contributions” and your current KiwiSaver provider has received the switch notification, your funds should be transferred within 10 business days.

How do I switch my KiwiSaver to InvestNow?

You will first need to set up your KiwiSaver account with InvestNow. Please refer to our FAQ here. Once your account is open, you will need to go to the “My Contributions” tab and select the fund or funds you want the KiwiSaver invested in. From there we will organise the transfer of your KiwiSaver to the InvestNow KiwiSaver Scheme, which takes approximately 10 business days.

How do I make changes to my KiwiSaver portfolio?

You can change the make up of the funds in your KiwiSaver portfolio at any time, by following these steps:

1. Log into your account and go to the “My Contributions” page (this will show you the current funds, and associated weightings, for your portfolio).
2. Click on the ‘Edit‘  under your portfolio.
3. Select the funds you would like as part of your portfolio.
   1. The default display is the funds that are currently in of your portfolio.
   2. You can use the filters on the left-hand side to find other funds available.
   3. You will need to check the box for each fund that you would like as part of your portfolio. Once you have selected the funds, scroll down and click ‘Next’.
4. Select the percentage you would like for each fund and click ‘Next’. Please note that this must add to 100%.
5. You can then select either “Rebalance Underlying Funds”, which will rebalance your entire portfolio (selling and buying as necessary) to the new weightings, or “Future Contributions”, which will not affect your existing funds but will be applied to all future contributions.
6. Download the PDS document and check the box marked ‘I have read, understood and accept the latest Investment statements or Product Disclosure Statement’.
7. Click ‘Confirm’ and a successful notification will appear once the change has been completed.

You can change your investment plan for your KiwiSaver at any point. If you select the rebalance option, you will need to wait for this to be completed to update your portfolio again. Please note that a buy/sell spread, swing price adjustment and/or buy/sell transaction fee may apply when funds are bought and sold as part of a rebalance.

How do I make a Permanent Emigration Withdrawal from my KiwiSaver portfolio?

Please send us an email (contact@investnow.co.nz) and we will send you a form to complete.

Please return the completed form and return it, and all supporting documents (these can be scanned and emailed to us):

• Evidence such as copies of passport pages showing date of departure or evidence of necessary visas.
• Provide utility bills or rental agreements if you have these for the last 12 months.

Please note that the amount you can withdraw won’t include any government contributions you may have received during your time as a KiwiSaver member.

How do I make a Hardship Application from my KiwiSaver portfolio?

Please send us an email (contact@investnow.co.nz) and we will send you a form to complete.

You will also need to provide supporting documents for the last three months regarding income, debts, and expenses you have (please note that the Statutory Declaration must be completed before the Scheme Supervisor will review the application).

Supporting documents include:

1. Bank statements and utility bills
2. Invoices
3. Debt letters
4. Credit card statements
5. Fines or credit notices
6. Any other documents you believe a relevant

You can apply to withdraw all the funds in your KiwiSaver account excluding the kick-start (if applicable) or any Government contributions, but this doesn’t mean that you will be entitled to receive this amount in full.

Please contact us if you have any questions at contact@investnow.co.nz or at 088499466.

How do I join the InvestNow KiwiSaver Scheme?

If you are already an existing member of InvestNow:

• Login into your managed funds account and go to the Dashboard
• Click the InvestNow KiwiSaver option.
  • If you do not see “InvestNow KiwiSaver” you will have started the KiwiSaver account opening process. You can find the KiwiSaver account by clicking on “1 investor and 1 profile” in the top right hand corner.
    • Please check the box for this account and click the “1 investor and 1 profile” heading to switch to the account.

To complete the activation of your account, you need to select the funds and review and agree to the disclosure material.

Once this has been completed, we will organise the transfer from your current provider.

This process takes 10-15 business days to complete and you will receive an email once the funds have arrived. If this is your first time joining a KiwiSaver Scheme, the funds will arrive in 62 days as they are held by the IRD.

How do I find out if I am a member of the InvestNow KiwiSaver Scheme?

You can find out who your KiwiSaver provider is by contacting the Inland Revenue Department (IRD), or by logging in to your MyIR account.

How do I apply for a withdrawal e.g. first home, hardship or serious illness?

Please go to our Forms page, download and complete the relevant form and then send it to us at contact@investnow.co.nz. If you have any questions or require any assistance please call us on 0800 499 466.

Producing reports for your Managed Funds & TDs portfolio

Once logged in there are three types of reports you can produce, for whatever period you choose:

• General Ledger Report – provides information about your portfolio returns, contributions, tax information, and more (Excel format)
• Investment Report – provides information about your portfolio returns, contributions, tax information, and more (PDF format)
• Tax Summary Report – provides detailed tax information and guidance – can be useful for completing any tax returns (Excel format)

You can create any of the above reports by following these steps:

• Click the “Documents” tab

• Select the required report under “Report Template”,
• Select the Investor & Portfolio (this is only relevant when you are linked to 1+ InvestNow portfolios), and the time period under “Select Date”,
• Click “Generate Report”.

Producing reports for your KiwiSaver portfolio

Once logged in there are three types of reports you can produce, for whatever period you choose:

• General Ledger Report – provides information about your portfolio returns, contributions, tax information, and more (Excel format)
• Investment Report – provides information about your portfolio returns, contributions, tax information, and more (PDF format)
• Management Accounts Report – provides more detailed information that may be of use to you and/or your accountant (Excel format)

You can create any of the above reports by following these steps:

• Click the “Documents” tab

• Select the required report under “Report Template” and the time period under “Select Date”.
• Click “Generate Report”

Note:  For some report types there may be other parameters you can select to further customise the report.  And, depending upon the report type chosen, a copy will be downloaded to your device or available in the “View Reports” page. 

Can I transfer my KiwiSaver investment to my Australian Super Scheme?

Yes, you can.  Please send us an email (contact@investnow.co.nz) and we will send you a form to complete, along with supplying the following supporting documents:

• Proof of your Australian Superannuation Fund’s bank account. It must show the bank account name, bank account number, swift code, and logo of the bank.
• A letter from your Australian Superannuation Fund confirming that they accept KiwiSaver transfers.
• Evidence of your permanent residence at an Australian address, for example:
  • a copy of a property sale and purchase agreement; or
  • tenancy/leasing agreement for an overseas property; and
  • recent utility bill; or bank statement
• Evidence of your departure from New Zealand, for example:
  • evidence of confirmed travel arrangements; or
  • passport evidence; or
  • evidence of any necessary visas or shipping contracts/documentation; or
  • evidence of Australian employment, i.e. a copy of a contract or letter from your Australian employer; or
  • evidence of your Australian tax status issued by the relevant Australian tax authority

Upon completion, please return the Transfer Form, and supporting documents us and we will be in touch should we have any questions.

Can I transfer my Australian Super Scheme monies to my KiwiSaver portfolio?

Yes, you can. 

We are happy to accept Australian Super funds.  Can you confirm the following details and I can draw up a letter to help you with your application with your Super Scheme:

• Super Scheme Name
  Member number
  Postal address

Please send these details to us (contact@investnow.co.nz).