Frequently asked questions

Account details and investment dashboard

Why don't my personal details reflect what I've told you recently?

The reports are based on data held as at 31 March 2022. If you updated your personal details after 31 March 2022, these will appear in next year's reports.

You can check your current account details and make changes by using the MAS Investor Portal. If you have not yet registered to use the portal, you can do so by clicking on the "Register a new account" button and following the simple instructions. If you have any questions, call us on 0800 627 738 or email us here.

Why are my reported fund holdings and/or investment strategy not what I have now?

The reports are based on data held by our fund administrator Link Market Services as at 31 March 2022. If you asked us to change your fund holdings and/or investment strategy after 31 March 2022, these reports will not reflect the 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 to use the portal, you can do so by clicking on the "Register a new account" button and following the simple instructions. If you have any questions, call us on 0800 627 738 or email us here.

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 set by the Financial Markets Conduct Regulations. You can find out more here.

Why don't I have a projected retirement balance and weekly income on my statement when someone else I know has received this information?

We aren't able to include a projection with your statement if:

  • You were not a member of the MAS KiwiSaver Scheme or the MAS Retirement Savings Scheme for the whole year (1 April 2021 to 31 March 2022)
  • You were under 18 years old on 31 March 2022
  • You were over 65 years old on 31 March 2022.

Why is my projected weekly income nil?

The regulatory requirements mean that weekly income is rounded to the nearest $10. This means that if your projected income is projected to be less than $5 per week, it is rounded down to nil.

Why is my projected retirement balance nil?

The regulatory requirements mean that projected retirement balances are rounded to the nearest $1,000. This means if your projected retirement balance is less than $500, it is rounded to nil.

Tax

Why am I paying tax when I have made an investment loss?

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

Tax rules differ for different types of asset classes, and this treatment is illustrated in the table below:

Asset class Included in the calculation of taxable income?

Australasian shares

  • Capital gains/losses

No

 

International shares

  • Dividend income
  • Capital gains/losses

Yes (but the taxable income calculation assumes you had a 5% total return - irrespective of the actual total return).

 

What is included in the line item 'Deductible expenses' in the tax certificate?

This refers to the Fund(s) annual management fee and certain administrative charges. 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 in which our funds may invest. These third-party fees are not directly paid by you and therefore do not qualify as a deductible expense.

Contributions

Why are there no contributions or fewer contributions than I expected to see in my MAS Retirement Savings Scheme account?

If you began working for a different DHB during the year, you need to advise your new employer to start contributions. Check with your new employer whether they have made this change.

Why was my KiwiSaver government contribution less than $521.43 when my contributions are shown as more 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 2020 to 30 June 2021. Your contributions in the statements are for the year 1 April 2021 to 31 March 2022. All contributions paid between 1 July 2021 and 30 June 2022 will be taken into account when calculating the government contribution for the year ended 30 June 2022.

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 does not happen very often and is generally for small amounts. If you have not made contributions during the year and IR recovers contributions from the previous financial year, your contributions may even be negative. To find out more, talk to your employer.

Fees

My KiwiSaver account balance is below $5,000, why are my fees so 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 will see this in the transactions record of your account if you log into the MAS Investor Portal. If you are not making contributions, this may result in the fees being greater than the return you earn, reducing the value of your account.

Performance

How do I find out more information about how my investment funds and how they are performing?

There are several ways we provide information to our Members about how their investment funds and how they are performing.


Fund updates

Our fund updates provide information about each fund, how it has performed and what fees it charged. They also provide information on the types of assets the fund invested in, and you can find these on our website here:

MAS KiwiSaver Scheme
MAS Retirement Savings Scheme


Fund performance

If you want to find out more about how your investment is performing, you can see weekly updates on fund unit prices and returns on our website here:

MAS KiwiSaver Scheme
MAS Retirement Savings Scheme


Investment market updates

You can find the latest news from MAS including investment market updates on our News page.

If you cannot find the answer you were looking for, please call us on 0800 627 738 or email us here.


More news

MAS Inflation adjustment 2022/23

23 May 2022 - Your policy includes an inflation adjustment benefit. The rate of inflation MAS applies will depend on which policy type you have purchased. A summary of the rates to be applied to different MAS policy types is set out here.

Mindful Money recognises MAS as responsible investor

10 May 2022 - MAS has had its responsible investment strategy certified by Mindful Money, reflecting its commitment to making a positive impact through its investments.