When is my account statement and annual report being sent out?
Your statement will be sent to you by the end of August each year.
Do I have to pay tax on my scheme?
No. Contributions are made to NPF from tax paid income. The fund’s investment earnings are taxed before they are applied to your scheme.
Do I need to declare my pension for tax purposes?
As from 1 April 1990 all NPF pensions became free of tax, therefore you no longer need to declare your allowance to the Department of Inland Revenue.
Can I get access to my funds?
This will depend on the type of scheme you are in. Please call the Scheme Administrator, Datacom, on 0800 628 776 to clarify.
When is my pension paid?
Your pension is paid in advance every 28 days, and is paid tax free. It is paid by direct credit into your bank account.
I have left or I am about to leave my current employer, what are my options?
If you are in an employer-based scheme your will need to notify the Scheme Administrator, Datacom, so they can get official cessation/retirement advice from your employer. Datacom will then inform you of your options.
I’m going on ‘leave without pay’ or on ‘ACC’ - can I stop my contributions?
If you are a member of the DBP Contributors Scheme you may temporarily suspend contributions, but there will be a penalty. For other NPF schemes you can stop your contributions but it may affect any employer subsidy you may be receiving.
Does my pension have a cost of living adjustment?
Pensions paid from the DBP Annuitants Scheme are adjusted annually in April for any positive movement in the Consumer Price Index (CPI) greater than 0.5% in the year ended the previous December. If the CPI rate is less than 0.5%, it is carried forward to the next year. Also note that if you have been retired for less than 6 months, the first increase will not apply until the following April.
Pensions paid from the other NPF schemes do not have a cost of living adjustment. Pensions may be increased at the discretion of the Board if the solvency position of the scheme can support an increase.
When I go onto my pension, am I able to take a portion as a lump sum?
Pension options can include taking up to 25% of your entitlement as a lump sum, with the remaining amount being converted to a pension.
If I move overseas can I still receive my pension?
Yes, if you move overseas you will continue to receive your pension from NPF. Your pension will be paid to your bank account by direct credit.
If you live overseas, your NPF pension may be subject to tax in the country in which you live or are resident. You should obtain specialist taxation advice on this matter.
For any other questions about your scheme:
Please telephone 0800 628 776 or email NPFenquiries@datacom.co.nz
Or write to:
The Manager, NPF Schemes Administration
Datacom Employer Services Limited
PO Box 1036