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SuperLife KiwiSaver review
With a whopping 42 funds for you to choose from, SuperLife just might offer the right KiwiSaver plan for you.
With 42 different funds for you to choose from, it’s safe to say that SuperLife might offer a KiwiSaver scheme that suits your exact needs.
This article will cover SuperLife’s KiwiSaver plans, including their features and eligibility requirements, so that you can decide if SuperLife is the right KiwiSaver provider for you.
SuperLife offers a range of investment products such as managed funds, sector funds, ESG funds and even ETF portfolios for its investment schemes, including its KiwiSaver plans . With a focus on making low-cost index investing more accessible than ever, SuperLife helps investors achieve above-market returns without breaking the bank.
SuperLife KiwiSaver funds
As mentioned, SuperLife offers 42 different KiwiSaver funds for you to choose from. In general, they can be classified as follows:
- SuperLife Age Steps. This automatic risk-adjusted investment option re-allocates the composition of your fund as you age. In a nutshell, a larger portion of your fund will be allocated to low-risk assets as you get older. This means more income assets instead of growth assets. This is a great option for investors looking for a “set it and forget it” KiwiSaver option.
- Ethica Fund. The Ethica Fund provides access to a pool of ESG-compliant companies, notably excluding firms which benefit from gambling, tobacco, alcohol and other socially or environmentally-detrimental activities.
- Managed funds. These managed funds consist of varying percentages of growth and income assets. This includes the SuperLife Income Fund, SuperLife Balanced Fund and SuperLife Growth Fund.
- Sector funds. Choose from funds consisting of cash, fixed interest, equity or property across either New Zealand or international markets. This includes the NZ Cash Fund, Overseas Bonds Fund and Emerging Markets Fund.
- ETF funds. Browse through SuperLife’s diverse range of exchange traded funds and pick one that best suits your risk appetite. This includes the Global Bond ETF Fund, Australian Financials ETF Fund and Asia Pacific ETF Fund.
To learn more about each KiwiSaver fund on offer, visit SuperLife’s website for further details.
Do note that it’s completely free to switch from one fund to another, and that you may even opt for a combination of the funds above.
SuperLife KiwiSaver fund fees
SuperLife’s KiwiSaver schemes come with three types of fees that you should watch out for.
- Annual fund charge. SuperLife’s fund management fee ranges from 0.49% to 1.44% per annum. In general, the more complex and risk-on the fund is, the greater the management fee will be. The highest fund management fee of 1.44% per annum applies to the Castle Point 5 Oceans Fund which aims to outperform the Reserve Bank of New Zealand’s OCR by 3%.
- Administration fees. The administration fee is an annual $30 charge which covers the day-to-day administration of your SuperLife KiwiSaver fund.
- Financial adviser fees. SuperLife KiwiSaver users can opt for a financial advisor, at a fee of up to $500 per annum.
Remember to check with SuperLife on the exact amount of fund fees you might be charged before investing in their KiwiSaver scheme. The exact amount payable could depend on your fund type and KiwiSaver balance.
What other products does SuperLife offer?
Other than KiwiSaver funds, SuperLife also assists with UK Pension/Australian Super transfers as a recognized overseas pension scheme provider. SuperLife further offers insurance policies in the realm of life, disability and medical insurance. Lastly, you’ll always have option to invest in the above-mentioned investment funds without using a KiwiSaver scheme.
How do I join SuperLife?
Visit SuperLife’s website and sign up online to join their KiwiSaver schemes. You’ll generally need the following:
- IRD number (and your PIR)
- Driver’s licence details
- Valid mobile number
- Name, birth date and other personal details
SuperLife will follow up and help onboard you onto their KiwiSaver scheme once your application has been approved.
To invest in the SuperLife KiwiSaver fund, you must first meet their eligibility criteria. You need to be:
- A New Zealand citizen,
- Entitled to live in New Zealand indefinitely
Unfortunately, those issued a temporary student, visit or work permit are not eligible for the KiwiSaver scheme.
SuperLife offers some of the most diverse KiwiSaver choices on the market. Whether you’re looking for an age-adjusted or ethical investment fund, SuperLife has a KiwiSaver just for you. With so many options to choose from, you should take some time to compare the funds available when you invest with SuperLife.
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