NZDF

New Zealand Defence Force KiwiSaver Scheme

Contributions

If you are a member of the New Zealand Defence Force KiwiSaver Scheme and you are... then you may elect to... and...
a paid member of the NZDF contribute either
3%, 4% or 8% of your base salary
CDF will contribute 4% of your base salary to your New Zealand Defence Force KiwiSaver Scheme account
in paid employment other than the NZDF contribute either
3%, 4% or 8% of your base salary
your employer must contribute at least 3% of your base salary to your New Zealand Defence Force KiwiSaver Scheme account
not in any paid employment make voluntary contributions to your New Zealand Defence Force KiwiSaver Scheme account via internet banking there are no CDF or other employer contributions made.

 

Key features

  • Open to NZDF members, family members and Veterans, who are aged less than 65 years and are NZ citizens or long term NZ residents. You do not have to be a current NZDF member to join the Scheme
  • Benefits for the membership include a low fee structure, reflecting that the NZDF has arranged the Scheme for you, not to generate a profit.
  • You choose how you wish to have your funds invested from seven options, e.g Cash, Conservative, High Growth.
  • Members are currently eligible for Government funded tax credits of a maximum of $521 p.a, subject to member contributions.
  • Members of NZDF who contribute to the scheme
    will receive from CDF one-off employment retention payments of $1,000 (before tax) after years 1, 4 and 7 of contributions. These payments are only paid to member accounts in the Scheme.
  • KiwiSaver savings are generally only available when you turn 65 (and have been in KiwiSaver for at least five years).
  • You can withdraw funds to put towards the purchase of a first home that is your primary place of residence, subject to rules applying.
  • Eligibility across the five Schemes for monthly rewards of $250 prezzy cards and two larger rewards each year, to a total value of $50,000 per year, provided by the Scheme manager.
  • Daily calculation of fund balances.
  • The ability for New Zealand Defence Force KiwiSaver Scheme members to continue contributing to the Scheme after they leave NZDF.
  • Licensed Manager and issuer is Mercer (N.Z.) Limited.

Financial advice available through Milestone Direct Limited. Refer to the information kit for more information on the New Zealand Defence Force KiwiSaver Scheme, including the Product Disclosure Statement and Member Booklet.

Reports

This page was last reviewed on 4 December 2018.