Like most investments, it costs money to establish a Lifeplan. So for the first period of your Lifeplan - always less than two years - half of your regular contribution pays the initial Establishment Fee. The other half is used to buy units in the managed funds you nominate.

The size of the establishment fee is based on a range of factors. Your Adviser can provide all the details you need.

After the fee is paid, all your contributions are used to buy units in the fund or funds.

Lump Sums

Will you pay an establishment fee for a lump sum you invest in your Lifeplan? No.

Administration Fee

This is currently $4.00 per month and is linked to the Consumer Price Index.

Buying/Selling Units

Each unit has a buy price and sell price. To acquire a unit, you pay the buy price. To redeem a unit, you pay the sell price. The buy price is 3% higher than the sell price.

Two Free Switches

Every calendar year you can make two free switches between funds, free of charge. After that, each switch costs $25.

Two Free Withdrawals

Every calendar year you can make two free withdrawals from your Lifeplan. After that, each withdrawal costs $25.

Management Fees

There are very specific and transparent costs associated with managing each fund.

0.90% per annum for the Capital, NZ Bond, Global Bond funds.
1.50% for all other funds.

Some funds are managed externally. These attract additional management fees. Please refer to the Investment Statement for Lifeplan for further information about these fees.

Management Fee Rebates

We are pleased to offer you the following discounts on our management fees:

Account Balance	Rebate
$10,000 to $50,000	10%
$50,000 to $100,000	25%
more than $100,000	50%