Superannuation and investments

Common issues people have about superannuation (including KiwiSaver) and investments are: why they can't access their funds prior to retirement ago, fees and investment returns.  See our information below, or for further help, contact us.

Info Sheets

Info sheets are quick guides to common problems.
Kiwisaver

Quick Answers

Why can't I withdraw money from my superannuation plan? 

As superannuation plans are long term investments, you can usually only withdraw your money out in very limited circumstances.

The Trust Deed for the superannuation plan will set out when money can be withdrawn. This can vary from plan to plan. It is unlikely the IFSO Scheme will uphold your complaint if:

  • the plan's Trustee is acting in accordance with the Trust Deed provisions;
  • you were told about the provisions when you joined the plan; and
  • you were told of any changes to the Trust Deed.

Can the IFSO Scheme challenge my superannuation trustee’s decision?

Often the Trust Deed gives the Trustee absolute discretion. Where this is the case, the IFSO Scheme has limited power to review a Trustee's discretion.

The charges made under my superannuation/savings plan are more than I expected. Can the IFSO Scheme help?

The IFSO cannot consider complaints relating to whether charges are too high. The IFSO Scheme can make sure the contract has been administered correctly and that the information you were given is not misleading.

My policy is maturing shortly and the maturity value is less than I expected. Can the ISO Scheme help?

The IFSO Scheme cannot consider complaints relating to the returns or earnings offered for life insurance or savings services. For example, whether the bonuses allocated are too low. The IFSO Scheme can make sure the contract has been administered correctly and that you have not been provided with misleading information.

I want to cancel my savings plan but am not happy with the amount being offered. Can the IFSO Scheme help?

The IFSO Scheme cannot consider complaints relating to the returns or earnings offered in connection with life insurance or savings services. For example, the IFSO Scheme cannot decide if the earnings are too low or the charges made are too high. The IFSO can make sure the contract has been administered correctly and that you have not been provided with misleading information.

Case Studies

Search the case studies of complaints to the IFSO Scheme.