Questions & Answers

Q1: What is The Law Retirement Plan?
A1: A superannuation plan originally developed for the legal profession. Now anyone (New Zealand resident) may apply to join the Scheme.

Q2: What is different about the Law Retirement Plan and The Law Retirement KiwiSaver Scheme?
A2: Both schemes have been developed as a service to the profession and now open to all New Zealanders.  Because of that, the schemes do not need to make money for anyone but the members of the schemes.   That means there are:

• No commissions
• No entry fees
• No minimums (you can increase, decrease or stop your contributions at anytime) within the Law Retirement Plan and if you are self-employed when contributing to the Law Retirement KiwiSaver Scheme
• You do not have to belong to the legal profession to become a member and enjoy all the benefits.

Q3: Can I withdraw funds from the Plan?
A3: You can withdraw funds when you turn 60 years of age from the Law Retirement Plan or 65 years of age from The Law Retirement KiwiSaver Scheme.

Q4: How safe is my investment?
A4: The Law Retirement Plan and KiwiSaver Scheme is registered with the Government Actuary.  Its investment assets are held through custodian/nominee companies and the Plan's accounts and records are audited each year by an independant auditor.  The investments held within the Plan are diversified and held in various different asset classes and these are invested in various international and Australiasian markets.

Investing in different countries, currencies and industries assist in diversifying the investments.  The different asset classes repond differently to economic stimuli and holding a combination of them help to provide a more consistent rate of return.  There will be times however when the returns are below expection or even negative.  That's why it is important to invest over a period of time for your retirement savings both give you time to accumulate and take advantage in times of economic prosperity and minimise risks in times of retraction.