mysuper savings suspension form

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 [email protected]
• 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 [email protected]
• Remember ACC’s contributions do not count towards your Government contribution. To receive a Government contribution 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.