Section 1Key information summary
Offer of membership of UniSaver New Zealand 4 August 2025
This document gives you important information about this investment to help you decide whether you want to invest. There is other useful information about this offer on disclose-register.companiesoffice.govt.nz [external link]. UniSaver Limited has prepared this document in accordance with the Financial Markets Conduct Act 2013. You can also seek advice from a financial advice provider to help you to make an investment decision.
This is a replacement product disclosure statement, which replaces the product disclosure statement dated 30 April 2025.
What is this?
This is a managed investment scheme. Your money will be pooled with other investors’ money and invested in various investments. UniSaver Limited will invest your money and charge you a fee for its services. The returns you receive are dependent on the investment decisions of UniSaver Limited and of its investment manager and the performance of the investments. The value of those investments may go up or down. The types of investments and the fees you will be charged are described in this document.
What will your money be invested in?
UniSaver New Zealand (UniSaver or the scheme) offers you a choice of six investment options. These investment options are summarised below. More information about the investment target and strategy for each investment option is provided at section 3 ‘Description of your investment option(s)’.
Investment option |
Risk indicator |
Estimated annual fund charges p.a.¹ |
Other fees and charges |
|---|---|---|---|
|
Growth |
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|
Description: Invests in a diversified portfolio of predominantly growth assets (e.g. shares) with a smaller percentage in income assets (e.g. fixed interest). Objective: To provide a long-term (10 years plus) return² of 3.5% p.a. above inflation. There is a reasonably small risk³ of a member losing more than 12.0% in any year, with a current likelihood of a negative return of 1 year in every 4. |
|
0.57% |
All members - $303.65 for a first-home withdrawal. $108.85 for a significant financial hardship or subsequent home withdrawal. |
|
Growth (Lower Carbon) |
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|
Description: Invests predominantly in global shares with specific exclusions related to fossil fuels, plus a smaller percentage invested in global fixed interest. This option has a lower carbon exposure than Growth.(5) Objective: To provide a long-term (10 years plus) return² of 3.25% p.a. above inflation. There is a reasonably small risk³ of a member losing more than 11.5% in any year, with a current likelihood of a negative return of 1 year in every 4. |
|
0.40% |
Retained members only(4) - Withdrawal fee: $39.66 for second and subsequent withdrawals in any calendar year. Annual administration charges: $52.32. |
|
Balanced |
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Description: Invests in a diversified portfolio balanced between growth assets (e.g. shares) and income assets (e.g. fixed interest). Objective: To provide a long-term (10 years plus) return² of 3.0% p.a. above inflation. There is a reasonably small risk³ of a member losing more than 8.0% in any year, with a current likelihood of a negative return of 1 year in every 4. |
|
0.53% |
|
|
Conservative |
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Description: Invests in a diversified portfolio of predominantly income assets (e.g. fixed interest) with a smaller percentage in growth assets (e.g. shares). Objective: To provide a long-term (10 years plus) return² of 2.0% p.a. above inflation. There is a reasonably small risk³ of a member losing more than 2.5% in any year, with a current likelihood of a negative return of 1 year in every 6. |
|
0.43% |
All members - $303.65 for a first-home withdrawal. $108.85 for a significant financial hardship or subsequent home withdrawal. |
|
Cash |
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|
Description: Invests fully in New Zealand cash. Objective: To provide a return broadly in line with that of the Bloomberg NZBond Bank Bill Index after tax. There is a low risk of experiencing a loss in any one year. However, returns may not keep up with inflation. |
|
0.23% |
Retained members only(4) - Withdrawal fee: $39.66 for second and subsequent withdrawals in any calendar year. Annual administration charges: $52.32. |
|
UniSteps |
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|
Description: UniSteps uses three investment options – Growth, Balanced and Conservative – to transition your savings from predominantly growth assets to predominantly income assets over time. Up until age 45, your savings are invested in approximately 80% growth assets. From then, the percentage of growth assets is reduced gradually to approximately 20% at age 69. The risk/return profile of UniSteps changes depending on the proportion of your savings invested at any given time in these options. The overall fund charges also change. Here are examples at ages 49, 54, 59 and 64. |
|
0.55% |
|
|
Objective: To reduce your allocation to growth assets progressively over time using Growth, Balanced and Conservative as ‘building blocks’. |
|
0.53% |
|
|
|
0.50% |
||
|
|
0.46% |
- Percentage of the net asset value of the option.
- After tax and investment expenses.
- Approximately 1 in 20 years.
- If you are eligible to withdraw from UniSaver, you may be able to elect to leave part or all of your benefit in UniSaver and become a retained member.
- More detail on the scheme's responsible investment policy and the exclusion criteria underpinning Growth (Lower Carbon) can be found in the scheme's statement of investment policy and objectives (SIPO). See the scheme's register entry at disclose-register.companiesoffice.govt.nz or unisaver.co.nz for a copy of the SIPO.
See section 4 ‘What are the risks of investing?’ for an explanation of the risk indicator and for information about other risks that are not included in the risk indicator. To help you clarify your own attitude to risk, you can seek financial advice or work out your risk profile at unisaver.co.nz/risk-profiler [external link].
Who manages UniSaver?
UniSaver Limited (we, our or us) is the trustee and manager of UniSaver. See section 7 ‘Who is involved?’ for more information.
How can you get your money out?
Withdrawals are restricted because UniSaver, as a workplace savings scheme, is intended to help you save for your retirement.
Generally, you can get your money out of UniSaver on retirement from age 60 or resignation. However, you might be able to withdraw some or all of your money earlier in other limited circumstances.
The locked section is a complying superannuation fund (complying fund), which means it can offer some KiwiSaver benefits because it complies with rules like KiwiSaver.
Different benefit rules apply to locked amounts held by locked members.
Your savings in UniSaver are payable to your personal representatives if you die.
See section 2 ‘How does this investment work?’ for more information about how you can get your money out.
How will your investment be taxed?
UniSaver is not a portfolio investment entity (PIE). For information on taxation, see section 6 ‘What taxes will you pay?’.
Where can you find more key information?
UniSaver Limited is required to publish annual updates for each investment option. The updates show the returns, and the total fees actually charged to investors, during the previous year. The latest updates are available at unisaver.co.nz. We will also give you copies of those documents on request.