You can contribute to your Retirement Savings account automatically through your employer, or by making voluntary contributions.

Contributions we receive are generally processed within 5 business days. 

Employer contributions 

You can generally make contributions directly from your pay via your employer to your Retirement Savings account. It’s a good idea to discuss how and when your contributions may be made, directly with your employer. 

Voluntary contributions 

You can make contributions to your Retirement Savings Scheme account through online banking using saved or registered payee details in your bank's app or by direct debit.

Saved or registered payee (biller)

MAS has set up as a payee/biller with the following banks:

Simply search for the product name - MAS Retirement Savings Scheme - which is also the account name, in the biller or payee list and follow the prompts to complete your payment. 

Important

MAS banks with ANZ and all our biller code instructions are set-up with New Zealand banks via ANZ. Banks operate using different systems and processes, and while the biller names (product name or account name) are the same across all banks, the manual entry process can be different.

 

Manual entry (self-selected payee)

You can also enter the payment details manually using the following information:

Account Name (biller name) Account Number Exact Name on Account
MAS Retirement Savings Scheme  06-0541-0107564-00  Medical Assurance Society NZ Ltd

Please double-check all details before confirming payment.

 

Important

For ASB and BNZ banks specifically, as well as for any banks that do not list our Scheme's bank account under their registered payees or businesses, you need to manually enter the exact account name as registered with the bank to avoid a "Not Match" error during the Confirmation of Payee process. ASB and BNZ’s Confirmation of Payee service will verify whether the account name and number provided correspond with the bank’s official records. Therefore, please ensure you use the exact name on accounts (as per the table above) to successfully complete the Confirmation of Payee check.

 

Mobile banking procedures for registered and self-selected payees

ANZ Mobile App

Searching for a Registered Payee

  • Tap Payments > Pay a Person or Bill > Select an account > Select a Payee
  • Search for "MAS Retirement Savings Scheme" and select the correct payee from the list and the
    registered details will be loaded

Adding a New Payee (Self-Selected Payee)

  • Tap Payments > Pay a Person or Bill > Select an Account > Select a Payee > Add New
  • Payee Name: Account name (e.g. "MAS Retirement Savings Scheme"; no need for exact name)
  • Account Number: Enter the correct bank account number
  • The product name will show on your screen

ASB mobile App

Searching for a Registered Payee

  • Tap Payments > Make a Payment > Choose who to Pay > Registered Payee
  • Search for "MAS Retirement Savings Scheme" and select the correct payee from the list and the
    registered details will be loaded

Adding a New Payee (Self-Selected Payee)

  • Tap Payments > Make a Payment > Add a New Payee > Enter Payee Details
  • Payee Name: Use the exact registered name (e.g. "Medical Assurance Society NZ Ltd”)
  • Account Number: Enter the correct bank account number
  • Tap “Check Payee Details” to initiate Confirmation of Payee

BNZ Mobile App

Searching for a Registered Payee

  • MAS Retirement Savings Scheme is not available yet as a Registered Payee – please use the process below for a ‘Self-Selected Payee’

Adding a New Payee (Self-Selected Payee)

  • Menu (top left corner) > Payees > (top right corner) > Enter Account owner names
  • Account owner name: Use account name (e.g. "MAS Retirement Savings Scheme". For MAS RSS
    accounts, since the account has not yet been added under registered payees, it is necessary to include the exact name on account)
  • Account Number: Enter the correct bank account number
  • BNZ will verify payee details

Kiwibank Mobile App

Searching for a Registered Payee

  • Tap Pay & Transfer > Manage Payees > Add > Search Businesses
  • Enter "MAS Retirement Savings Scheme" and select from the results


Adding a New Payee (Self-Selected Payee)

  • Tap Pay & Transfer > Manage Payees > Add
  • Enter Account owner: Use account name (e.g. "MAS Retirement Savings Scheme"). 
  • Account Number: Enter the correct bank account number
  • Tap “Check Payee Details” to initiate Confirmation of Payee. You will see a pop-up box stating the account number matches as business and asking you to search businesses.
  • Enter "MAS Retirement Savings Scheme" and select from the results

 

Payment details

Particulars

Member Number (you can find this on your Annual Statement or login to myMAS)

Code

Surname

Reference

MASRSS 

 

Regular investment by direct debit 

You can also choose to set up (or change) a regular investment direct debit payment weekly, fortnightly, monthly, quarterly, 6-monthly or annually.  

To start a direct debit you will need to complete a Direct Debit Authority Form. 

You can change or cancel your regular direct debit payments by completing a Direct Debit Change Form.  

Medical Funds Management Limited is the manager and issuer of MAS Retirement Savings Scheme. A copy of the Product Disclosure Statement (PDS) for the Scheme is available at MAS Retirement Savings PDS.

If you would like to talk to a MAS Adviser, phone 0800 800 627 or email info@mas.co.nz