KiwiSaver

• • If the child is under 16, one parent/guardian, or one Oranga Tamariki guardian, must complete and submit the online application form. If two parents/guardians would like joint authority over the account, both need to complete and submit the online application form.
  • If the child is 16 or 17, one parent/guardian/Oranga Tamariki guardian and the child, must complete and submit the online application form.

Investment Funds

• • Only one parent/guardian needs to complete and submit the online application form to open an Investment Fund for a child.
  • If two parents/guardians would like joint authority over the account, both need to complete and submit the online application form.
  • If additional parents/guardians would like visibility of the account and for authority to be shared, additional parents/guardians need to also complete and submit the online application form.

KiwiSaver & Investment Funds

• • All parents/guardians linked to the account will have access to view the account in Milford’s portal and mobile app, and be able to (jointly if relevant) authorise transactions.
  • The child can also have access to view the account if they have their own email address, but they will not be able to authorise transactions.

When the child turns 18 years old:

• • They remain the legal owner of the account.
  • They will now have sole and full authority over the account, including making transfer and withdrawal decisions.
  • For the parent(s)/guardian(s), any authority over the account ceases at this time. Their portal access to view that particular account is also removed.
  • Milford will email the parent/guardian to request that updated contact details and current identification documentation be provided by the child to Milford.

The tax rate applied to the account is determined by the ownership of the account. As the child is the account owner, their Prescribed Investor Rate (PIR) will apply.

Whilst the child is the legal owner of the account, the child has no authority or control over the account until they turn 18, at which point they will have sole authority and control over the account (and any authority of their parent(s)/guardian(s) over the account ceases at this time).

If your child was born in New Zealand, you only need to enter the birth certificate registration number, which is found on the bottom right-hand side of their birth certificate. The birth certificate does not need to be uploaded to the online application form.

If your child was not born in New Zealand, please upload a certified copy of their non-NZ birth certificate (including certified translation if not in English) into the application form where asked. This can be via pdf, jpeg or png file. The
birth certificate will need to show the names of the parents, as well as the child’s:

• • Full name
  • Date of birth
  • Place of birth

See below for certification information.

If your name has changed, please provide a copy of the applicable document evidencing your change in name which has been certified by a Trusted Referee in accordance with the requirements set out under the response to the question below. For example, please provide:

• • Marriage certificate
  • Divorce (dissolution of marriage) certificate
  • Name change certificate issued by the Department of Internal Affairs (DIA).

All non-photographic identity documentation must be certified by a Trusted Referee before it is uploaded into the online application form.

Accepted Trusted Referees include:

• • Lawyer with a current practising certificate
  • Chartered Accountant
  • Member of the Police
  • Justice of the Peace
  • Registered Medical Doctor
  • Registered Teacher
  • New Zealand Honorary Consul at a New Zealand Consular Office
  • Notary Public
  • A person who has the legal authority to take statutory declarations or
    the equivalent in New Zealand
  • If outside New Zealand, a person authorised by law to take a statutory
    declaration (or equivalent) in that country.

When certifying each document, the certifier must:

• • Make the statement “I certify this to be a true copy of the original which I have sighted.”
  • Include their name, occupation and capacity to be a certifier e.g. registration number (if applicable), signature and date of certification.
  • Not (i) be living at the same address as the person requiring certification, or (ii) be a relative or spouse of the individual requiring certification, or (iii) be involved in the transaction.