Glossary

Administration Manager – The Administration Manager will administer Whai Rawa.

Annual Distribution – The Annual Distribution is the amount Te Rünanga will contribute to Whai Rawa accounts after Matched Savings have been paid.  There is a Distribution Sub-Account for these savings.

Calendar Year – 1 January to 31 December in any year.

Child member – A member under the age of 16.

Corporate Member – Any entity approved by Ngäi Tahu as a Corporate Member, eg Te Rünanga o Ngäi Tahu.

Credited Earnings – The income (positive or negative) received on the assets of Whai Rawa and allocated to your Member Accounts.

Education Withdrawal – This is the withdrawal you can make to help finance tertiary education.

Housing Withdrawal – This is the withdrawal you can make to purchase your first home.

Interim Credited Earnings Rate – The rate of income the Manager may apply to your Member Accounts if you withdraw part way through a quarter.

Investment Statement – This legal document that sets out a summary the rules and conditions of Whai Rawa. You must receive this before you invest in Whai Rawa.

Investment Manager – The investment manager is responsible for investing member funds with the guidelines set by the manager

Manager – The Manager is responsible for the day to day running of Whai Rawa, including investing Whai Rawa’s assets.

Matched Savings – For every dollar you save of your own into your Whai Rawa account, Te Rünanga o Ngäi Tahu will match it to a certain value. There is a Matched Savings Sub-Account for these savings.

Member Accounts – This includes your Savings Sub-Account, Matched Savings Sub-Account, Distribution Sub-Account, Third Party Sub-Account and a Transfer Sub-Account (or Corporate Account) if applicable.

Portfolio Elections – If the Manager introduces Portfolios to allow you to choose between differing investment options, you will be asked to choose which Portfolio or Portfolios you wish to apply to your savings in Whai Rawa.

Promoter – Te Rūnanga o Ngāi Tahu is known as the Promoter because it created Whai Rawa.  As a matter of law, the Papatipu Rünanga Representatives in terms of the Te Rūnanga o Ngāi Tahu Charter are also classified as Promoters of Whai Rawa.

Prospectus – The Prospectus contains a summary of the Trust Deed and financial statements for Whai Rawa, as well as other information.

Reserve Account – An account held by the Manager and used for the administration of the scheme.

Retirement Withdrawal – This is the withdrawal you can make once you’re aged 55 years or over.

Return – With Whai Rawa returns mean the amount available for you to withdraw from your Whai Rawa account.

Special Circumstances Withdrawal – This is a discretionary withdrawal you can request when you’re experiencing certain difficulties.

Third Party – This is anyone other than you or Te Rūnanga o Ngāi Tahu who makes a contribution to your account. They don’t need to be Ngāi Tahu or hold a Whai Rawa account to make a contribution. There is a Third Party Sub-Account for these contributions.

Transfer Account – When someone transfers money from their Whai Rawa account to yours it goes into a Transfer Sub-Account.

Trust Deed – The document setting up Whai Rawa containing the terms and conditions under which the Trust was established.

Trustee – The Trustee looks after your interests in Whai Rawa.

Trust Fund – All investments, cash, property and other assets, liabilities and obligations of Whai Rawa held by the Trustees.

Elective Member – A member over 65 who chooses to remain in Whai Rawa.

Whai Rawa – A long term savings scheme for Ngāi Tahu Whānui to build independent wealth.

Withdrawal on Death – Whai Rawa savings will be paid to your estate when you pass on