Important information


This important information relates to many customers’ accounts; their circumstances may be different from yours. If you are in doubt about whether or not a particular provision applies to you or if you simply would like further information, please call the Helpline on 0800 333 787.

Providing up to date information about Your Personal Details is really important. Your Personal Details shows the most up to date information on you, including information on your:

1. Contact Details (your name, email, phone number and address);
2. Updating your PIN/Password;
3. PIR (tax rate);
4. Inland Revenue number status;
5. Any linked accounts (if applicable);
6. Employer details (if applicable); and
7. Key account information

If any of the information we have about you is not up to date and you would like to change it, you can update it by pressing 'Edit'. If you can't change the information on this page, please call the Helpline on 0800 333 787.

Please be aware that it can take up to 24 hours for your request or changes to be shown in your personal details page. Alternatively, please call the Helpline on 0800 333 787 to request for these changes to be made.

 

1. Contact Details

It is important we have the most up to date information about your contact details. You can update your email address. Your email will be updated on any listed linked accounts, where you have asked us to update by checking the box 'I would like to apply these updates to the accounts below'.

You can update your contact phone and address details. These updates will only apply to any listed linked accounts where you have asked us to update, by checking the box 'I would like to apply these updates to the accounts below'.

By providing your email address and/or mobile phone number you:

• acknowledge that it will be used to send you information concerning your account electronically (unless you have otherwise told us). We can send you material electronically (which may include a link to a website from where it can be downloaded) including annual reports, account and exit statements, notices of material changes or occurrence of significant events, publications and (unless you have requested not to do so) for marketing and research purposes.
• understand you can change your preference for receiving confirmation at any time by updating Your Personal Details via this page, or by calling us.
• Acknowledge that if your email bounces, you will be issued with a paper-based confirmation letter and that the email address recorded for your account will be removed. If this occurs, you will be prompted to provide an updated email address next time you log into your account.

See Important Information about my email address and/or mobile phone number below

 

2. Update your PIN / Password

Remembering your Password can be a challenge, therefore we suggest you:

• Change your PIN to something you can remember easily (but that someone else can't guess).
• Pick any combination of letters and numbers (between 4 to 8 characters) to help make your PIN easy to remember.

Remember to keep your Password secure so that only you can access your confidential information on this website. Your Password change will be effective immediately.

 

3. PIR (tax rate)

The NZDF Savings Schemes are PIEs. This means that the tax that the NZDF Savings Scheme’s pay on your behalf are calculated at the Prescribed Investor Rate (PIR) that you most recently notified to Mercer.

It is your responsibility to make sure that the correct PIR is notified to Mercer and is kept regularly updated. You can change your PIR at any time during the year. Any change in PIR will apply from the time you notify Mercer or the next tax year depending on what you advise.

Note that if you are updating your PIR and changing your Investment Strategy on the same day, these changes may be processed at different times by Mercer.

You can notify a PIR of 10.5%, 17.5% or 28.0%.

The general rules for selecting a PIR are:

• If you want to use a PIR of less than 28.0% you must be a New Zealand resident and you must provide your IRD Number.
• The PIR that you can choose is generally based on your taxable income in your tax return and the combined taxable income in your return plus your PIE taxable income. You can use the numbers from the last two tax years before the year you want the new PIR to apply.

The detailed rules that set out the PIR that you can choose are set out in the Income Tax Act 2007. Inland Revenue administers those rules and it explains how you should work out your PIR at www.ird.govt.nz/toii/pir/workout/.

If you do not advise a PIR at any stage to Mercer, the default rate of 28.0% will be used. The default 28.0% rate will also be used if you have not provided your IRD number to Mercer.

Once you have notified a PIR, Mercer will continue to apply that PIR for each tax year unless you notify a new rate. It is your responsibility to review your PIR each year to make sure you are still eligible for the PIR that you last notified. If you do not do this, there is a risk that the PIR you last notified is no longer the right rate. This could cause you problems with Inland Revenue.

If Inland Revenue thinks you have notified a PIR to Mercer that is lower than the one you are eligible for, it can instruct the Mercer KiwiSaver scheme to use a different rate.