Law Retirement KiwiSaver Scheme

How do I Join?
The Law Retirement KiwiSaver Facts & Information
Self Employed (see below)
Employer: Preferred Provider - the benefits (see below)

Forms and Information

Investment Statement
Application Form
Direct Debit Form (for self employed and those under 18 years)
Preferred Provider Form

How do I Join?

If you are an Employee:	1. Complete the Application Form The form is in the back of the Law Retirement KiwiSaver Scheme Investment Statement or click here. 2. Notify your pay clerk Give information to your pay clerk of the amount you wish to contribute – either 2%, 4% or 8% of your gross salary.
If you are Self Employed:	1. Complete the Application Form The form is in the back of the Law Retirement KiwiSaver Scheme Investment Statement or click here.  2. Complete the Direct Debit Form.

Self Employed

For the self employed KiwiSaver also has many advantages.  You can set up a direct debit with us stating your contribution amount and you can also make one off lump sum deposits into your KiwiSaver account. 

Being self employed you can nominate the amount you wish to save each month and as long as you contribute the equivalent to the member tax credit provided by the government you will receive this amount of $1,040 per annum.  You do not have to apply for this as we undertake on your behalf to notify government of your contributions to the Law Retirement KiwiSaver Scheme.

Employer - Preferred Provider

An employer can choose to have a preferred scheme provider so that employees who don’t choose their own savings scheme will be allocated this provider as their default scheme.

The advantages of an employer choosing a preferred provider include:

• Employers will have only one provider to liaise with
• Using a top quality preferred provider will reduce administration issues and employee questions
• Able to ensure a good investment track record and choice of investment management options that will be suitable for all employees and their different situations
• Shows an interest and concern by the employer that their employees will make a suitable decision regarding their financial future
• By choosing one provider this will remove stress and frictional comparison between employees.  Under the default option there is the possibility that each employee may be allocated a different provider with different features and benefits
• By having one provider this will ensure that all employees will receive the same:
  o Choice of  Investment funds offered
  o Investment performance
  o Scheme fees
  o Reporting and timing of annual reports

An employer does not incur any legal liabilities by appointing a preferred provider.  However, if at any stage an employer starts offering advice to employees, they will need to comply with the legal obligations of giving financial advice.  Diversified Investment Strategies Limited can assist with the advice part of the KiwiSaver process.