Financial Markets Conduct Regulations 2014

80 Other information for particular types of managed funds

(1)

The annual report for a KiwiSaver scheme, a superannuation scheme, or a workplace savings scheme must include a statement of—

(a)

the number of scheme participants who made a withdrawal that is permitted under the Act and the governing document during the accounting period; and

(b)

the grounds on which those withdrawals were made.

(2)

The annual report for a defined benefit scheme or a life benefit scheme (as defined in section 169(1)(b) of the Act) must include—

(a)

a statement as to whether the rate or amounts of contributions paid have been in accordance with the recommendations contained in the most recent report of an actuary required under section 169 of the Act; and

(b)

a summary of that report.

(3)

If the scheme is operated on a unitised basis,—

(a)

subclause (4) does not apply; and

(b)

the annual report must state the unit prices for the funds under the scheme at the start and at the end of the accounting period.

(4)

The annual report for a KiwiSaver scheme, a superannuation scheme, or a workplace savings scheme under which benefits payable from the scheme are based on the investment return of scheme property must include a statement of the crediting rate or rates applied to members’ balances for the accounting period as at the end of that period.

(5)

The annual report for a superannuation scheme or a workplace savings scheme must include a statement by the supervisor (or, in the case of a restricted scheme, the manager) as to whether all the contributions required to be made to the scheme in accordance with the terms of the governing document have been made.

(6)

The annual report for a KiwiSaver scheme, a superannuation scheme, or a workplace savings scheme must include a statement by the manager as to whether—

(a)

all the benefits required to be paid from the scheme in accordance with the terms of the governing document and (where applicable) the KiwiSaver scheme rules or the superannuation scheme rules have been paid; and

(b)

the market value of the scheme property at the balance date equalled or exceeded the total value of benefits that would have been payable had all members of the scheme ceased to be members at that date and had provision been made for the continued payment of all benefits being paid to members and other beneficiaries as at the balance date.

(7)

The annual report for a complying superannuation fund must include the following information:

(a)

the market value of the assets subject to the complying fund rules:

(b)

the number of scheme participants to which the assets relate:

(c)

the value of withdrawals subject to the complying fund rules.