IRIS Super and IRIS Kiwisaver Schemes
Start Saving with IRIS Now
IRIS Super and IRIS KiwiSaver Schemes offer investment choice and low cost life cover.
Every IRIS KiwiSaver member qualifies for a start-up contribution of $1,000 and contributions are matched by a tax credit of up to $20 a week or $1,040 a year, paid directly into your KiwiSaver account. With KiwiSaver first home buyers could also qualify for Government assistance of up to $5,000.
Currently employers contribute into KiwiSaver members' accounts at 1%, and from 1st April 2009 this rises to 2% of your before-tax earnings.
IRIS is Your Retirement Plan
Why Do You Need a Retirement Savings Scheme?
When you retire, you will live on your savings and what is provided by NZ Superannuation. The more you save during your working life, the more comfortable you will be.
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| "As a young worker, owning a home seemed an impossible dream. With IRIS Kiwisaver, it seems more of a reality." |
Young New Zealanders find it increasingly hard to save for a home of their own. IRIS KiwiSaver could help you reach that goal.
Choosing to invest in a workplace savings scheme is one of the most important decisions you will make. By choosing IRIS Super or IRIS KiwiSaver Schemes you are paving the way to a more secure future.
Why IRIS?
The IRIS Super scheme was designed and set up in 1990 by a group of unions solely for the benefit of scheme members and their families.
The IRIS Trustee operates the schemes for the benefit of the members. The IRIS structure allows for equal numbers of union and employer directors. Participating unions nominate these directors,whose role is to represent members in decisions about the services IRIS provides.
IRIS is professionally managed using industry experts. IRIS does not pay agents' commissions or trustee fees, keeping the costs of IRIS schemes as low as possible and maximising the benefits for members.
Which IRIS Scheme is Right for Me?
With IRIS you have a choice of two schemes - IRIS Super and IRIS KiwiSaver. Both schemes are registered with the Government Actuary. Both schemes offer three levels of investment choice and low cost life cover.
Even if you are not employed you can join IRIS KiwiSaver, or, if you can't afford to join IRIS KiwiSaver and contribute 4% of your salary, consider joining IRIS Super at an affordable level now and transferring to KiwiSaver later.
IRIS Kiwisaver Scheme
Anyone can join IRIS KiwiSaver. New workers starting a new job will be automatically enrolled in the KiwiSaver scheme of their choice when starting a job, with the opportunity to opt out up to the eighth week of employment.
Your employer may offer you an alternative KiwiSaver scheme but you have the final say which KiwiSaver scheme you want to join. If you don't make a choice the Government can place you in a default Kiwisaver scheme.
To make sure IRIS is your KiwiSaver provider, you must choose IRIS. Make sure your friends and family know about IRIS and their right to choose.
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| "With IRIS Kiwisaver my wife and I between us can get $2000 start-up, up to $20 a week each from the Government, employer contributions, and up to $10,000 deposit for our first home." |
With KiwiSaver you contribute 4% or 8% of your before-tax pay (the minimum default will change to 2% on 1st April 2009). The Government contributes $1,000 start up and a matched tax credit of up to $20 a week or $1,040 a year, paid directly into your account.
Providing you contribute 4% of your gross pay, compulsory employer contributions to your KiwiSaver account start at 1% of your gross pay from 1 April 2008, rising to 2% in 2009.
Your savings remain locked in your account until the NZ Superannuation age of retirement (currently 65 years) or for five years - whichever is later.
KiwiSaver schemes offer Government assistance for first home buyers of up to $5,000 per member, which can be added to your KiwiSaver savings for a deposit.
How Can I Join IRIS?
- Step 1
Contact IRIS and tell them you'd like to know more about joining an IRIS scheme. IRIS staff will answer your questions about IRIS Super or IRIS KiwiSaver. - Step 2
IRIS will send you an information pack, including an investment statement explaining the benefits of each IRIS scheme, how it works and the fees you pay. - Step 3
Inside your pack you will find an application form. Complete the form for the IRIS scheme you wish to join and return it to IRIS.
Make a Start Now
For more information:
Call IRIS toll free on 0800 650 836
Call Peter Gosche 09 622 8360
Visit the IRIS website for an application form.
Or talk to your delegate and arrange for an IRIS representative to come to your next workplace meeting.
