Annual statement and tax certificates for the year ended 31 March 2023

Frequently asked questions

Performance

How do I find out more information about how my investment fund is performing?

There are several ways you can learn more about how your investment fund is performing.

1. Fund updates

Fund updates provide information about how each fund has performed, the types of assets it has invested in, and what fees it has charged. Learn more below:

MAS KiwiSaver Scheme
MAS Retirement Savings Scheme

2. Fund performance

To learn more about your investment performance over time, view weekly updates on fund unit prices and returns on our website here:

MAS KiwiSaver Scheme
MAS Retirement Savings Scheme

3. Investment market updates

Discover the latest news from MAS including investment market updates on our News page.

Account details and investment dashboard

Why don't my personal details reflect any recent changes?

The reports are based on data available as of 31 March 2023. If you have updated your personal details since 31 March 2023, changes will appear in next year's reports. 

You can review and update your current account details and make changes using the MAS Investor Portal.  If you have not yet registered for the Investor Portal, please click the button below, then click to register a new account and follow the instructions. If you have any questions or require assistance, please call us on 0800 627 738 or email us at masinvest@linkmarketservices.com

Log in or Register for Investor Portal

Why are my reported fund holdings and/or investment strategy different to my current fund holdings and/or investment strategy?

The reports are based on data held by our fund administrator, Link Market Services, as of 31 March 2023. If you have changed your fund holdings and/or investment strategy since 31 March 2023, these reports will not reflect these changes. 

You can confirm your current fund holdings and/or investment strategy by logging into the MAS Investor Portal.  If you have not yet registered for the Investor Portal, please click the button below, then click to register a new account and follow the instructions. If you have any questions or require assistance, please call us on 0800 627 738 or email masinvest@linkmarketservices.com

Log in or Register for Investor Portal

Projected retirement balance and weekly income

Where can I find out more information about how the projections are calculated?

The projections are based on rules determined by the Financial Markets Conduct Regulations. Learn more here.

Why do I not have a projected retirement balance and weekly income on my statement?

We are not able to include a projection on your statement if:

• You were not a member of the MAS KiwiSaver Scheme or MAS Retirement Savings Scheme for the whole year (1 April 2022 to 31 March 2023)
• You were under 18 years old on 31 March 2023
• You were over 65 years old on 31 March 2023

Why is my projected weekly income nil?

Weekly income is rounded to the nearest $10. If your projected balance is projected to be less than $5, it is rounded down to nil.

Why is my projected retirement balance nil?

Projected retirement balances are rounded to the nearest $1,000. If your projected balance is less than $500, it is rounded down to nil.

Tax

Why am I paying tax when my investment return was negative?

Tax is payable on your taxable investment income, which may be calculated differently to your investment returns. This can mean that individuals with a negative investment return for the previous financial year may still have to pay tax.

Tax rules differ between asset classes, and this treatment is illustrated in the table below:

What is included within the line item, 'deductible expenses'?

Deductible expenses refer to the Fund(s) annual management fee and certain administrative charges. Total deductible expenses may be different to the fees stated. The total of these charges will not be the same as the fees referred to in the annual member statement. The difference is third party fees that are incorporated into underlying funds into which our funds may invest. These third-party fees are not paid by you directly and therefore do not qualify as a deductible expense.

Contributions

Why are my contributions to the MAS Retirement Savings Scheme account either not showing or different to my expectations?

If you began working for a different regional division of Te Whatu Ora during the year, you may need to advise your new regional division to start making contributions. Check with your new regional division to confirm whether this is the case.  If you don’t work for Te Whatu Ora, please contact your employer to confirm your contribution rates.

Why was my KiwiSaver government contribution less than $521.34 when my contributions were greater than $1,042.86?

The difference is likely due to the different year-ends used to calculate government contributions. The government contributions in the statements relate to your contributions for the year 1 July 2021 to 30 June 2022. However, your contributions in the statements are for the year 1 April 2022 to 31 March 2023. All contributions paid between 1 July 2022 and 30 June 2023 will be taken into account when calculating the government contribution for the year ended 30 June 2023.

Why do I have negative KiwiSaver contributions or small withdrawals that I did not make?

Inland Revenue (IR) can recover contributions made in error to your KiwiSaver account, such as overpayments by your employer. This occurs infrequently and the amounts are generally small. If you have not made contributions during the year and IR recovers contributions from the previous financial year, your contributions may even negative. To learn more, talk to your employer. 

Fees

My KiwiSaver account balance is below $5,000, why do my fees seem high relative to my balance?

There is a minimum annual fee of $50 (for members aged 25 or over). This is calculated and deducted quarterly from your member account. You can review this within your transaction records in the MAS Investor Portal. If your account balance is relatively small and you are not making regular contributions, it is possible that fees charged are greater than returns earned, reducing the value of your account over time.