This myWealth website (the Website) is provided by New Zealand Funds Management Limited (NZ Funds). Please read and understand these terms and conditions (Terms and Conditions) before you use the Website. These Terms and Conditions constitute an agreement between you, the website user, (‘you’, ‘your’) and NZ Funds. By accessing or using the Website you agree that you have read, understood and accepted these Terms and Conditions, and you agree to be bound by them.
NZ Funds may change, suspend, or discontinue any aspect of the Website (including any service or content offered through the Website) at any time without notice. NZ Funds may change the Terms and Conditions at any time by publishing the changed Terms and Conditions on the Website. By continuing to access or use the Website following such publication you accept the revised Terms and Conditions. The Terms and Conditions were last revised on 01 May 2013.
MEMBERSHIP & ACCESS
If permitted to use the Website, you will be provided with a user name and a password (Password) that will permit access to the Website.
You acknowledge that access to the Website will be available to any person using your user name and Password. You agree that you are solely responsible for any use of the Website by any person using your user name and Password and you agree to compensate NZ Funds for any losses arising out of your failure to keep your user name or Password secure and confidential. Therefore please ensure you protect your Password from disclosure to others.
Please notify NZ Funds immediately if your Password has been lost or stolen. A new Password will be provided to you.
Please do not attempt to access any information or details that do not relate to you personally. Please notify NZ Funds immediately should you become aware of any such unauthorised access or attempted access to the Website.
The Website is not intended to be made available to any person in a jurisdiction where doing so would constitute a breach of any applicable laws or regulations.
GENERAL INFORMATION & ADVICE
In the event this Website provides any preliminary and general financial information you should be aware that it has been prepared without taking into account your particular objectives, financial situation or needs. So, before acting on any information, including any information generated by the evaluative tools available through the Website, you should consider whether it is appropriate to your personal circumstances, objectives, financial situation and needs. We highly recommend that you consult an authorised financial adviser before making an investment decision. The Website should not be used as a substitute for legal, financial or other professional advice. To the extent that any of the Website constitutes financial advice, it is class advice only.
Any reference to investments or investment performance is purely indicative and for the purposes of illustration. The performance of any investment or investment products referred to on the Website is not guaranteed by NZ Funds or any other party. Please be aware past performance may not be indicative of future performance and any investment has the potential to result in a total loss of capital.
The evaluative tools within the Website are guides only and provide indicative results only and are only intended for illustrative purposes. The results and outcomes of the evaluative tests should not be solely relied upon when making investment decisions. Results are based on assumptions which are built into the Website.
THE HELP FUNCTION
NZ Funds provides support to users of the Website through the ‘help’ function in order to resolve any incidents or problems arising from its use. NZ Funds support is available during usual business hours. Reasonable measures have been taken to ensure that the help information NZ Funds provides is accurate, but we assume no legal liability or responsibility for help provided.
NZ Funds uses reasonable efforts to maintain the Website and all associated data with technical, administrative and physical safeguards to protect against loss, unauthorised access, destruction, misuse, modification and improper disclosure. The information you enter in the Website or access via the Website is stored by NZ Funds on its data servers. However, you acknowledge no computer system or information can ever be fully protected against every possible hazard and you agree that NZ Funds shall not be liable for any loss occasioned by unauthorised access, destruction, corruption, loss, misuse, or improper disclosure of your data.
By using any hyperlink in the Website, you may leave the Website and go to another website that is not under the control of NZ Funds. NZ Funds does not accept any responsibility or liability in respect of material contained in other websites and does not, by including any hypertext link, endorse the website or the information available at such a website. You enter those websites at your own risk and acknowledge that the content or accuracy of the information on those websites has not been reviewed by NZ Funds. The terms and conditions that apply to those websites may be different to these Terms and Conditions and those terms and conditions will govern the use of those websites and the use of information you access or obtain from those websites.
INTELLECTUAL PROPERTY & COPYRIGHT
Except where otherwise stated, the intellectual property rights (including copyright and trade marks) subsisting in the Website and in the content of the Website belong to NZ Funds. NZ Funds shall at all times retain ownership of the Website and such content and all copies of such items regardless of form. The granting of access to the Website by NZ Funds does not create or imply a licence or permit you to reproduce, download, transmit and/or distribute any Website content in any form or by any means other than as permitted under these Terms and Conditions. You are permitted to download and print extracts of material or content from the Website for your own use for personal investment planning only.
In addition, certain information within the Website, or certain aspects of the Website, belongs to parties other than NZ Funds. Where this is the case, NZ Funds does not claim authorship or ownership of such information and duly acknowledges the intellectual property rights of such other parties.
WARRANTIES & DISCLAIMERS
The Website has been compiled in good faith by NZ Funds. However, NZ Funds gives no guarantees (either express or implied) or warranties regarding the reliability, timeliness, completeness, fitness-for-purpose, or accuracy of:
Without limiting the generality of the foregoing, NZ Funds gives no warranty that:
In addition, to the maximum extent permitted by law, NZ Funds is not responsible for, and does not assume any liability for:
To the maximum extent permitted by law, NZ Funds accepts no responsibility arising in any way, including in contract or tort (including negligence), for errors or omissions in the Website, or otherwise for any loss or damage of any kind at all (including consequential loss, financial loss, damages for loss of business opportunity, loss of revenue or profits or other economic losses) arising directly or indirectly out of the provision or use of, or inability to use, the Website, or from any action or decision taken as a result of using the Website or any information or material available through the Website. You use the Website at your own risk and solely in reliance on your own judgment and not upon any warranty or representation made by NZ Funds.
If the exclusion of liability in the previous paragraph is held to be invalid in whole or in part, then NZ Funds’ total liability to you for all damages, costs, and expense (other than for any damage, cost and expense that cannot be limited at law) will not exceed the amount of one New Zealand dollar (NZD$1.00).
You agree to indemnify NZ Funds from and against all loss, damage, injury and expenses, (including legal expenses on a full indemnity basis) arising either directly or indirectly from a breach by you of the Terms and Conditions or your use of the Website.
These Terms and Conditions shall not limit or restrict any right you may have under New Zealand law, including under the Consumer Guarantees Act 1993, if it is applicable. However, notwithstanding the foregoing, if you use the Website or our services for business purposes, you agree that the guarantees provided under the Consumer Guarantees Act 1993 shall not apply to the Website or those services.
NZ Funds respects the privacy of its clients. It understands the need to safeguard your personal and financial information and respects your rights under the Privacy Act 1993.
TRACKING YOUR ACTIVITY
NZ Funds may track your activity within the Website and may use this information to seek to improve the Website or communicate the merits of certain products or services.
USE OF GOOGLE ANALYTICS
NZ Funds uses Google Analytics website measurement software to help measure traffic patterns to, from, and within the Website. The services are used to anonymously aggregate website statistics, such as number of page views, the number of unique visitors, time spent in the Website, when users browse, and common entry and exit points into and from the Website. On occasion, random short surveys may also be used to collect further information about the users— participation in these surveys will be entirely voluntary.
All information is aggregated by Google Analytics and provided to NZ Funds to help us better understand usage of our public website — no individual users are identified. Google Analytics has been adopted as an accepted interactive measurement standard amongst many major Internet sites.
CORRESPONDENCE, ELECTRONIC & OTHERWISE
You consent to receiving communications from us electronically and you agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. You agree to be bound by any agreement reached through electronic communications in terms of the Electronic Transactions Act 2002. The Unsolicited Electronic Messages Act 2007 aims to stop people sending unsolicited electronic emails marketing or promoting goods and services. By providing your email address to NZ Funds, you are consenting to receiving information (including information that markets or promotes our goods or services) from us by email. However, while NZ Funds would like to regularly communicate with you, electronically or otherwise, should you not want to receive emails that market or promote our goods or services from us, you will always have the ability to opt out by advising NZ Funds in writing or by email.
Where any provision of these Terms and Conditions is unlawful, void or unenforceable for any reason, then if the provision would not be unlawful, void, or unenforceable if a word or words were omitted, that word or those words are severed from these Terms and Conditions, or in any other case that provision shall be severed from these Terms and Conditions without affecting the validity or enforceability of the remaining provisions of these Terms and Conditions.
These Terms and Conditions are governed by New Zealand law and are subject to the non-exclusive jurisdiction of the New Zealand courts.
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The age of eligibility for superannuation from 1980 to 1994 was 60. Today it's 65. What age will eligibility be when you retire?
Source: Statistics New Zealand
Australia’s compulsory super scheme started out with a minimum employer contribution rate of 3%, it now stands at 9% and will be gradually increased reaching 12% in 2019. What’s your contribution rate?
Source: Australian Government
A US survey found 58% of employees spent more time choosing a new television than deciding which investment manager to rely on for their retirement.
Source: Iyengar, Huberman & Jiang (2004)
36% of KiwiSaver members are invested in default KiwiSaver funds. By law default KiwiSaver funds are required to permanently invest 75% to 85% of funds in income assets.
New Zealand interest rates are below the long term average. Good for your mortgage, not so good for income asset returns. What proportion of your long-term investments are in income assets?
Only 21% of New Zealand families hold enough cash to survive three months in the event of a loss of income. Before investing make sure you’ve set aside cash for an emergency.
Source: NZ Herald, NZ Funds