Financial Markets Authority’s role in this transfer
The transfer has received formal approval by the Financial Markets Authority (FMA) — the New Zealand government agency responsible for regulating KiwiSaver schemes.
The FMA has approved the transfer as they were satisfied that the terms and conditions of the new scheme are no less favourable to the proposed transferees than the terms and conditions of the old scheme:
- the terms and conditions of the scheme to which members are to be transferred are no less favourable to members than the terms and conditions of the scheme from which they are being transferred; and
- the transfer is otherwise reasonable in all the circumstances.
Implications of the transfer:
As the FMA has approved the transfer, you will become a member of the Fisher Funds KiwiSaver Plan. Your Fisher Funds TWO KiwiSaver Scheme account will be transferred to and invested in the Fisher Funds KiwiSaver Plan. All future contributions will be invested in that Plan. When the transfer process is complete, you will cease to be a Fisher Funds TWO KiwiSaver Scheme member. When there are no longer any members in that scheme, it will be wound up.
What happens next?
We will send you a confirmation letter and a welcome pack after the transfer has been completed.
What do you need to do now?
As noted above, you do not need to do anything for the transfer to proceed.
Questions and complaints
If you have any questions in the meantime, please email Fisher Funds at [email protected]