Mon, 01 Nov 2010
The monthly administration fee for the TOWER KiwiSaver Scheme ('the Scheme’) has reduced since 1 October 2007 by 13% from $2.75 per month to $2.39 per month as at 31 August 2010.
This reduction reflects economies of scale built in to the calculation of the administration fee. As the Scheme grows bigger and attracts more members, this benefits all Scheme Members.
The monthly administration fee is uniform for all members of the Scheme, no matter which of the Scheme’s funds you are invested in.
By the way...
You can switch your TOWER KiwiSaver Scheme investment fund ('your fund’) online, free of charge.
This online service makes it easy to change your fund to one that better fits your saving objectives and personal risk profile.
To check which TOWER KiwiSaver Scheme investment fund is best matched to your personal circumstances, you can perform the simple online self-assessment at Choosing a Fund.
After identifying which is the most suitable investment fund and whether it is different from the fund you are currently invested in, you can switch to the new investment fund by logging in or registering through the Check My Balance button at the top left hand corner of the TOWER KiwiSaver Scheme Quarterly newsletter.
If you are registering for the first time, you will need to click the Reset my PIN button and enter your TOWER KiwiSaver Scheme Member and Plan number shown at the top of the email we have sent you as part of the identification process.
If you need any assistance to register, please contact the TOWER Investments team at investments@tower.co.nz, or call 0800 379 372 between 8.00am and 5.30pm Monday to Friday.
For a copy of the TOWER KiwiSaver Scheme investment statement, click here.