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How to join mysuper

When joining mysuper and customising your account you have a few choices to make. How flexibly do you want to access your investment? How much do you want to contribute? How much say do you want in picking your investment fund? And would you like the added benefits of insurance? Your choices will depend on the life you live and the goals you have.

Ready to join mysuper?
1. Choose your account plan and contribution

Choose one of three account plans offering unlocked and locked contribution options, choices, and flexibility. These options enable you to decide whether you could access your money before 65 if you leave ACC, gain added benefits like Government contributions and a first homebuyer withdrawal from locking away (rules apply), or both. The amount you contribute, in addition to ACC's employer contribution of up to 9%, can be anything between the plan minimum and 70% of your salary, increasing in multiples of 1% as needed.

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2. Choose how you'll invest

You can choose your investment fund type around how many risks or decisions you feel comfortable making. You can selfselect between four different funds with varying risks and mixes. Or easyselect allocates your investment to one of three different funds based on your age.

Fund options
3. Choose to add on insurance

You can choose to add an optional life and income protection bundle to your account if you have an unlocked or part locked account plan (rules apply). Premiums are paid out of your mysuper unlocked account and pre-existing conditions are covered if added on within 90 days of joining ACC (and other automatic acceptance conditions are met). Cover is subject to meeting underwriting conditions and acceptance of claims by the insurer.

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4. Join mysuper

If you know how you’d like to set up your mysuper account, and are ready to join, simply complete the following application form to share your selections with us. We’ll then work with ACC Payroll to set everything up for you, creating your online mysuper account.

Join mysuper
FAQs

Yes. You can contribute to both mysuper and KiwiSaver at the same time. 

However, ACC will only make employer contributions to one scheme – either mysuper or your KiwiSaver scheme – not both. 

Depending on your choice, you may also need to apply for a savings suspension from making your own contribution to KiwiSaver.

 

 

No. mysuper and KiwiSaver are independent schemes so what you contribute to KiwiSaver will continue unless you request a savings suspension from your provider.

KiwiSaver Savings Suspension

ACC will only make employer contributions to one scheme – either mysuper or your KiwiSaver scheme – not both. You choose which scheme your employer contributions go to. 

Depending on your choice, you may also need to apply for a savings suspension from making your own contribution to KiwiSaver.

Two types of contributions can be made to mysuper. You can pick which type you make through the account plan you choose:

  • Unlocked – available on leaving ACC, no matter your age.
  • Locked – available at age 65 years.
Account plans

Two member account types are associated with mysuper: 

  • Active – members who are employed at ACC and are making contributions via the fortnightly pay cycle have an Active account. This account type requires you to leave ACC before you can request a withdrawal of unlocked investments, as per the rules of the mysuper Trust Deed.
  • Deferred – members who have left ACC but remain members of mysuper have a Deferred account. This account type allows you to make withdrawals from your unlocked investments once you have left ACC. You cannot make further contributions once you have left ACC (other than for a top up to access the Government contribution to the locked section, if eligible).

With both account types you can make withdrawals from your locked investments once you have reached age 65 (and in limited other situations).  

mysuper Trust Deed

Yes. A returning employee who wishes to contribute to mysuper must re-enrol as a new member. 

While you are an Active mysuper member one account is all you need, but if you have worked at ACC before and were a mysuper member during that time, you may already have a Deferred account if you had chosen to keep your investment in mysuper when you left your employment with ACC. If you have made unlocked contributions to your Deferred account, you have the option to make unlocked withdrawals as you have met the mysuper Trust Deed criteria of having left your employment with ACC. 

Why?

  • Deferred accounts can’t be reactivated.
  • Fortnightly pay cycle contributions must go to an Active member account because the mysuper Trust Deed stipulates they are not accessible until after you have left ACC.
  • If you were to add new unlocked contributions to a Deferred account via the regular pay cycle, they would then be available to you to as an unlocked withdrawal, which would breach the rules of the mysuper Trust Deed.

If you are a returning mysuper member and wish to have a single member account you can merge your original Deferred account into your new Active account. 

It is important to note that any money transferred to the Active account will then fall under the rules of the mysuper Trust Deed and unlocked withdrawals will no longer be available until you next leave ACC.

Simply complete the mysuper join form so a new Active member account can be created for you. Once you have received your new member number and welcome email to confirm your account has been set up, please send an email to [email protected] and request a merge of your Deferred account into your new Active account.

In mysuper, your contributions and ACC’s contributions are calculated as a percentage of “salary”, for example 6% or more.  The “salary” can be different to your take-home pay.  In mysuper:

  • For members whose employment agreement says they are an executive, your “salary” for mysuper purposes is the amount determined by ACC as being your total remuneration.
  • For all other members, unless ACC determines otherwise, your “salary” for mysuper purposes is your annual base taxable wages or salary, but excluding commission, overtime, bonuses, expense allowances, or other allowances of a similar nature.
  • In all cases, your contribution percentages are calculated as a percentage of your gross (before-tax) salary (as described above) and deducted from your after-tax pay.
  • ACC contributions are also calculated as a percentage of your gross salary. However, Employer Superannuation Contribution Tax (ESCT) is deducted from these contributions before they are paid into your mysuper account, according to the applicable ESCT rates.  The amount deducted will appear on your payslip.