Annual Fees on $1000

• conservative fund

$49.00

• balanced fund

$49.50

• growth fund

$50.50

Open to non earners?

Yes

Minimum opening deposit

$10.00

Minimum regular deposit

$10.00/fnt

Minimum occasional lump sum

$500.00

Minimum annual contribution

$260.00

Mortgage diversion available?

Most likely

Mortgage diversion fee

Undecided

Funds after 10 years

• conservative fund

$47,875

• balanced fund

$52,351

• balanced fund

$56,331

Funds after 20 years

• conservative fund

$114,489

• balanced fund

$140,472

• growth fund

$166,860

Funds after 30 years

• conservative fund

$200,779

• balanced fund

$279,829

• growth fund

$371,821

Funds after 40 years

• conservative fund

$312,592

• balanced fund

$500,215

• balanced fund

$751,890

Code

Mortgage diversion = KiwiSaver Act provides for diverting up to half your KiwiSaver contributions to pay off your mortgage if your provider allows this.

Conservative funds = 75 per cent cash and bonds, 25 per cent shares and property.

Balanced funds = 50 per cent cash and bonds, 75 per cent shares and property.

Growth funds = 25 per cent cash and bonds, 75 per cent shares and property.

Assumptions for funds after 10, 20, 30, & 40 years

Employee earns the gross average wage of $868.21 pw ($45,147 pa) for the next 40 years and pays 4 per cent of income to KiwiSaver from 1/7/2007 - Zero inflation - Gross annual returns before taxes and fees of 4.5 per cent for conservative funds, 7.5 percent for balanced funds, 10 percent for growth funds - Tax on earnings assume 33 percent tax to 31/3/2008 and 30 per cent thereafter.

Fees

Fees are gross fees and will be reduced by the government fee subsidy of $40.00 per year

Source

Credit Union KiwiSaver  information provided by providers in response to Weekend Herald questionaire