Scheme Comparison

 

The following compares the SuperLife UK Pension Transfer Scheme (SLUK) to the Garrison Bridge Superannuation Scheme (Garrison Bridge) highlighting any differences or similarities relating to investments, fees, member services including communications and online information.

 

Investments Comparison

 

The SLUK and the Garrison Bridge offer a range of fund options members. Your balance will be invested in whichever Garrison Bridge funds is equivalent to your existing SLUK fund(s). 

 

SLUK Equivalent Funds:

SLUK Funds
 
Garrison Bridge Funds
NZD Conservative Fund No. 2 Transfer to NZD Conservative Fund No. 2
NZD Balanced Fund Transfer to NZD Balanced Fund
NZD Growth Fund No. 2 Transfer to NZD Growth Fund No. 2
NZD Balanced Fund No. 2 Transfer to NZD Balanced Fund No. 2
NZD Bond Fund Transfer to NZD Bond Fund
NZD International Equities Fund Transfer to NZD International Equities Fund
NZD Australasian Equities Fund Transfer to NZD Australasian Equities Fund
NZD Real Assets Fund Transfer to NZD Real Assets Fund
NZD Cash Fund Transfer to NZD Cash Fund
NZD UK Cash Fund Transfer to NZD UK Cash Fund

 

 

Fund Comparison

 

Typical asset allociation for SLUK Scheme
Typical asset allociation for Garrison Bridge (GBSS)

Note: NZD Real Assets Fund ‘Other’ refers to Global Listed Infrastructure hedged into New Zealand dollars.

 

Manager and Supervisor Comparison

 

The following scheme comparison applies to members invested in the SuperLife UK Pension Transfer Scheme.

 

Who is involved? 
SLUK
Garrison Bridge

Manager

Lifetime Asset Management Limited

Lifetime Asset Management Limited

Supervisor

Public Trust

Public Trust

Custodian

Adminis NZ Limited

Adminis NZ Limited

Administration Manager

Adminis NZ Limited

Adminis NZ Limited

Investment Managers

Simplicity NZ Limited
Smartshares Limited
Kernel Wealth Limited

Simplicity NZ Limited
Smartshares Limited
Kernel Wealth Limited

The supervisor, Public Trust, is the default custodian. Public Trust has outsourced the custody function to Adminis NZ Limited.

 

Fee Comparison

 

The following fee comparison applies to members invested in the SuperLife UK Pension Transfer Scheme.

 

Total Annual Fund Charge (estimates) for each fund:
SLUK
Garrison Bridge
NZD Conservative Fund No. 2 0.78% 0.78%
NZD Balanced Fund 0.81% 0.81%
NZD Growth Fund No. 2 0.82% 0.82%
NZD Balanced Fund No. 2 0.91% 0.91%
NZD Bond Fund 0.75% 0.75%
NZD International Equities Fund 0.75% 0.75%
NZD Australasian Equities Fund 0.80% 0.80%
NZD Real Assets Fund 0.79% 0.79%
NZD Cash Fund 0.73% 0.73%
NZD UK Cash Fund 0.70% 0.70%

 

 

Other Fees or Charges
SLUK
Garrison Bridge

Establishment Fee

Nil

Establishment fee of NZ$495. This fee is waived for members transferring from Superlife UK Pension Transfer Scheme.

Withdrawal Fee

Nil

Members joining the Scheme after 7 July 2023 may be charged a withdrawal fee. This fee is waived for members transferring from Superlife UK Pension Transfer Scheme.

 

If you have agreed a financial advisor fee with your advisor for providing you financial advice, this will continue unchanged as a member of Garrison Bridge, the proposed scheme

The Manager will stop charging the financial adviser fee if told to stop (for example, if you no longer use your financial adviser).

For an explanation of how the fees are charged to your account please refer to pages 21 to 23 of the Garrison Bridge Superannuation Scheme (New) Product Disclosure Statement - Click to View.

 

Benefit Entitlement Comparison

 

The following key benefit entitlement comparison applies to members invested in the SuperLife UK Pension Transfer Scheme.

 

Key Benefits and Entitlements
SLUK
Garrison Bridge

UK Pension Transfer Money Withdrawal

You can make a withdrawal of your UK Pension Transfer Money when you reach the UK normal minimum pension age (currently 55)

No change

Early UK Pension Transfer Money Withdrawal

When making lump sum withdrawals, you can either withdraw everything or keep your money invested and make partial lump sum withdrawals when you want to

No change

Early UK Pension Transfer Money Withdrawal

Early withdrawals are permitted in some limited circumstances including for significant financial hardship, serious illness and death

No change

 

 

For complete details of your benefit entitlements please refer to pages 12 to 13 of the Garrison Bridge Superannuation Scheme (New) Product Disclosure Statement - Click to View.

 

 

Services and Communications Comparison

 

The following services and communications comparison applies to members invested in the SuperLife UK Pension Transfer Scheme.

 

Services, features, and communication comparison
SLUK
Garrison Bridge

Qualifying Recognised Overseas Pension Scheme (QROPS)

Yes.

Yes.

Portfolio Investment Entity (PIE) tax entity

Yes.

Yes.

Unitised Scheme

Yes.

Yes.

Telephone Services

8.30am to 5.00pm, weekdays.

No Change.

Email Services

8.30am to 5.00pm, weekdays.

No Change.

Regular member communications including

Annual Report.
Annual Member Statement.
Annual Tax Certificate.

No Change.

Online tools

No.

View Balances and Transactions via web portal.
Retrieve Member Statements via web portal.