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Overview

Since setting up Whai Rawa, Te Rūnanga o Ngāi Tahu has contributed over $43 million in matched savings, newborn and annual distributions. Note: the annual level of contribution may differ between calendar years and between members. Te Rūnanga o Ngāi Tahu may choose to cease or reduce contributions.

He pānui pai! A Bonus Distribution for eligible Whai Rawa members!

Whai Rawa whānau we are thrilled to announce a bonus Distribution!

All eligible members as at the 31st July 2021 will receive a bonus Distribution into their account of $30* minus taxes. This is an amazing way to start the second half of 2021 and celebrate our 15 year anniversary!

*Te Rūnanga distributions (when applicable) are available to all members under 65 years of age (see the Product Disclosure Statement) and are subject to RSCT (retirement scheme contribution tax) deducted at your personal RSCT rate (see the Other Material Information document at www.whairawa.com). If you do not notify us of your correct rate you will be taxed at the highest applicable rate of 39%. This is a one-off Distribution payment to be made no later than 11 September 2021.

 

Whānau – an important update about Annual Distributions 2021

As you are aware COVID-19 has impacted many businesses, iwi, hapū and whānau, Te Rūnanga o Ngāi Tahu included. As part of 2021 budgeting reviews Te Rūnanga o Ngāi Tahu have reduced the amounts they contribute to Whai Rawa member accounts for 2021 and subsequently there will be no Annual Distribution paid to all members in March 2022 for the 2021 calendar year.

Te Rūnanga will make a class distribution(s) such that all child members, irrespective of their savings contribution, will receive $200*(total for combined matched savings and/or special ‘class distribution’).

Pēpi Distributions remain unchanged.

* Te Rūnanga o Ngāi Tahu matched savings and distributions (when applicable) are available to all Whai Rawa members under 65 years of age (see the Product Disclosure Statement) and are subject to RSCT (retirement scheme contribution tax) deducted at your personal RSCT rate (see the Other Material Information document at www.whairawa.com).  If you do not notify us of your correct rate, you will be taxed at the highest applicable rate of 39%. Distribution payments are made no later than 31 March in the calendar year following qualification. Download our PDS at www.whairawa.com/pds

Ngāi Tahu Contributions
Matched Savings*

Currently, for every $1 adult members (aged 16-64) save in a calendar year, Te Rūnanga will contribute another $1 (up to a maximum of $200 per member). For tamariki members (aged under 16 years old as at the end of the relevant calendar year), Te Rūnanga will contribute $4 for every $1 saved (up to a maximum of $200 per member). Matched Savings and any Distribution payments are made no later than 31 March in the calendar year following qualification.

For the year 2020, Te Rūnanga will make a class distribution(s) such that all child members, irrespective of their savings contribution, will receive $200*(total for combined matched savings and/or special ‘class distribution’).

Elective members (those aged 65 and older at the end of the relevant calendar year) currently receive Kaumātua Grants outside the scheme rather than Whai Rawa Matched Savings.

Distributions*

Te Rūnanga sets a provisional budget for distributions within the Whai Rawa budget each year as part of the overall Te Rūnanga budget. Matched Savings are paid out of the Te Rūnanga budget first, with the balance (when applicable) being divided up for Distribution at Te Rūnanga’s discretion. Distributions are not certain; some years Distributions may not be made at all.

In 2021 there will be no Annual Distribution for members due to financial impacts of COVID-19 on Te Rūnanga businesses and operations. Matched Savings and Pēpi Distributions remain unchanged. Te Rūnanga will make a class distribution(s) such that all child members, irrespective of their savings contribution, will receive $200*.

Elective members (those aged 65 and older as at the end of the relevant calendar year) currently receive Kaumātua Grants outside the scheme rather than Whai Rawa distributions.

To date the distributions have been:

  • March 2007: Adult members $125 Child members $0
  • March 2008: Adult members $250 Child members $250
  • March 2009: Adult members $25 Child members $25
  • March 2010: Adult members $20  Child members $25
  • March 2011: Adult members $25 Child members $25 (paid March 2012 because of Canterbury earthquakes)
  • March 2012: Adult members $30 Child members $30
  • March 2013 Adult members $45 Child members $45
  • March 2014 Adult members $37 Child members $37
  • March 2015 Adult members $60 Child members $60
  • March 2016 Adult members $80 Child members $80
  • March 2017 Adult members $108 Child members $108
  • March 2018 Adult members $125 Child members $125 (+ child member bonus $25)
  • March 2019 Adult members $125 Child members $125 (+ child member bonus $45)
  • March 2020 Adult members $125 Child members $125 (+ child member bonus $60)
  • March 2021 Adult members $0 Child members $0 (one off class distribution for all tamariki accounts of $200*)
  • September 2021 Adult members $30 Child members $30 (one off bonus distribution)

Note: the annual level of contribution may differ between calendar years and between members. Te Rūnanga o Ngāi Tahu may choose to cease or reduce contributions.

Newborn Distribution*

Te Rūnanga currently makes a newborn distribution of $100* to a child member’s account if the child is enrolled in Whai Rawa before they turn one. This distribution is made in March, in the year following enrolment, at the same time as other Whai Rawa payments from Te Rūnanga.

Reduced Fees

All costs and expenses, other than Fund Manager fees, will be met by Te Rūnanga while Whai Rawa Fund Limited remains the manager of Whai Rawa.

Māori Authority Credits

Generally, all Matched Savings and Distribution payments have Māori Authority Credits attached which offsets some of the RSCT* deducted which means more money going into your account.

* Te Rūnanga o Ngāi Tahu matched savings and distributions (when applicable) are available to all Whai Rawa members under 65 years of age (see the Product Disclosure Statement) and are subject to RSCT (retirement scheme contribution tax) deducted at your personal RSCT rate (see the Other Material Information document at www.whairawa.com). If you do not notify us of your correct rate, you will be taxed at the highest applicable rate of 39%.

Distribution payments are made no later than 31 March in the calendar year following qualification. Download our PDS at www.whairawa.com/pds