Savings suspension

Please complete this form if you want to stop making employee contributions to your mysuper account.

You can take a savings suspension of up to 1 year. You don't need to provide a reason but there is a limit to how many you can request.

Each year (1 July to 30 June) a maximum of four holidays can be requested.

Important:

There are some rules around taking a savings suspension:

  • If you make unlocked contributions, a savings suspension can be requested immediately.
  • If you make locked contributions, you can take a savings suspension once 12 months have passed since your first locked contribution was made (whether to mysuper or another complying superannuation scheme/KiwiSaver). Written evidence however must be provided if not mysuper.
  • If you have signed a R3 Employment Agreement with ACC and choose to take a savings suspension ACC’s employer contributions to your mysuper account will continue. If you are unsure which Employment Agreement you have signed please email hrhelp@acc.co.nz
  • If you have not signed a R3 Employment Agreement with ACC and choose to take a savings suspension ACC's employer contributions to your mysuper account will stop until your employee contributions resume and will also effect the vesting of ACC's employer contributions. If you are unsure which Employment Agreement you have signed please email hrhelp@acc.co.nz
  • Remember ACC’s contributions do not count towards your Member Tax Credit. To receive a Member Tax Credit of up to $521.43 from the government, you must make employee contributions of at least $1,042.86 each financial year.
  • Your employee contribution will automatically restart once your savings suspension has ended. You will not receive any communication from mysuper that it is about to restart.
  • It is your responsibility to take the necessary steps, 30 working days in advance, if you want to reapply for a new savings suspension.

Insurance add-on:

  • If you decide to take a savings suspension and have an insurance add-on, you must have sufficient funds in your account to cover your premiums. If you do not, your insurance cover will stop.

I confirm that I have read and understood all of the important information provided above, relating to a "savings suspension" and accept the associated conditions that apply.

1. Member’s personal details
2. Length of savings suspension

You may take a savings suspension for a period between 3 months and 1 year.

Your contribution will automatically restart once your savings suspension has ended.

3. Declaration
I,

confirm that I have read and understood all of the important information provided above relating to a savings suspension, and accept the conditions that apply in the current mysuper Product Disclosure Statement PDF and other material information.