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Saving for your retirement

SuperannuationVideoPosterImageSaving for your retirement is important, and the University of Otago offers three superannuation plans. We encourage you to enroll in the one that best suits your needs.

This online module will give you a brief walk-through of the three superannuation options offered to University staff. There are examples for each of the options as well a resource area for further information.

View the superannuation online module [5m43s - sound required]

UniSaver New Zealand (UniSaver, formerly NZUSS) from 1 July 2015

The standard UniSaver offers members choice and flexibility. Key points to consider are:

  • The University adds 1.35 times your contribution to a maximum of 6.75%
  • You will not be eligible for a personal tax credit
  • There are four investment options to choose from
  • You have the freedom to access funds not locked-in upon leaving employment at the University

Find out more about UniSaver New Zealand (formerly NZUSS)

UniSaver New Zealand (UniSaver, formerly NZUSS) - CFA (Kiwisaver compliant) from 1 July 2015

This Kiwisaver-compliant scheme means you qualify for a personal tax credit from the Inland Revenue Department. Key points to consider are:

  • The University adds 1.35 times your contribution to a maximum of 6.75%
  • You will be eligible for a personal tax credit
  • There are four investment options to choose from
  • You are able to access your non-locked-in UniSaver contributions upon leaving employment

Find out more about UniSaver New Zealand - CFA (Kiwisaver compliant)

The Government-run Kiwisaver scheme

In 2007 the New Zealand Government introduced a superannuation scheme called Kiwisaver. Key points to consider are:

  • Kiwisaver is a Government savings plan
  • Your savings are locked in until retirement (with the exception of a withdrawal for first home buyers)
  • You will be eligible for a personal tax credit
  • There are a range of investment options to suit your requirements

Find out more about Kiwisaver

Planning for your Retirement seminar

The key to a good retirement is careful planning and this 2 hour seminar with Brian Donnelly, Adviser Superannuation and Staff Benefits, will assist you in this.

Book onto a 'Planning for Your Retirement' seminar

Superannuation and financial advice

The University is not qualified to give financial advice on which superannuation option is best for you. You are encouraged to seek independent financial advice prior to deciding which superannuation option you would like to use.

However, if you have technical questions or need more details about each plan, please contact Brian Donnelly, the HR Superannuation & Staff Benefits Advisor, at ext. 8274 or email him at brian.donnelly@otago.ac.nz.

Voluntary Severance Superannuation Options

Save

Depending on your superannuation scheme there are a number of different options available when taking Voluntary Severance.

Superannuation Information for those who take Voluntary Severance or Redundancy