Home | TOWER KiwiSaver Scheme | TOWER Cash 4 Schools

What is TOWER Cash 4 Schools?

Cash 4 Schools is a fantastic initiative from TOWER, designed to help New Zealand schools reach their full potential. Schools will receive a $20 donation from TOWER** for each new person who signs up or transfers to the TOWER KiwiSaver Scheme and nominates a school, as well as an ongoing donation based on a percentage of what you have in your TOWER KiwiSaver Scheme account (currently equivalent to $5.00 p.a. per $10,000 invested for each member who participates in the programme)**.

It’s really that simple.

Want to join the TOWER KiwiSaver Scheme?	Want to transfer to the TOWER KiwiSaver Scheme?
Already with TOWER?	Want to register your school?

How does the ongoing donation work?

Each year TOWER will donate an amount equivalent to 0.05% of your  TOWER KiwiSaver Scheme balance to your nominated school (see Terms and Conditions below). As your TOWER KiwiSaver Scheme balance grows a larger amount is donated to your nominated school by TOWER**. If your family, other families and community members also sign up and nominate your school, then the donation will be paid for them too.

Who pays for the donations?

TOWER** pays for both the $20 sign up donation and the ongoing donation to the nominated school. Neither you, nor the scheme, or its Trustee, will have to pay the donation . There are no extra charges to you as a member of the TOWER KiwiSaver Scheme. So not only will you get all the benefits of investing through TOWER, but now you will also get the satisfaction of knowing your decision to choose the TOWER KiwiSaver Scheme is directly helping your nominated school.

Can I also sign up my children?

Absolutely, all eligible people including children can participate in the Cash 4 Schools programme. KiwiSaver is a great way for children to start learning about money and the benefits of saving.

Please note that when signing up a child, the legal guardian must sign the application form.

Is signing up my children a life sentence for them?

No. KiwiSaver is not a life sentence!

Some parents have held off from signing their children up to KiwiSaver because they think they are committing their children to making contributions until retirement age. Well, there's good news here. Although children in a part time job will have to contribute 2% of their gross salary and wages, with the TOWER KiwiSaver Scheme, if the children are not earning a salary or wage they will not have to make regular contributions to KiwiSaver. In addition, each KiwiSaver member can apply to take a contributions holiday after 12 months membership. Therefore, the sooner they join, the sooner they can take advantage of the benefits of KiwiSaver.

Remember, children get the one-off $1,000 Government kick-start too! Kick start your children's KiwiSaver account today!

To sign up a child you must be the child's legal guardian.

Can family members or friends who are not associated with my nominated school participate?

Yes they can. Should they choose to join or transfer to the TOWER KiwiSaver Scheme, they too can nominate a school in the same way you do and the donations will continue to grow!

I have already joined KiwiSaver with TOWER, can I participate?

Yes you can. By completing the school nomination form you can choose the school that you wish the ongoing donation to be paid to. Note that the initial $20 donation is not payable in this circumstance, only the 0.05% ongoing donation payment applies to existing TOWER KiwiSaver Scheme members who choose to participate in the Cash 4 Schools programme.

I have joined KiwiSaver through another provider, can I participate?

Yes you can. All you need to do to transfer to the TOWER KiwiSaver Scheme is to read the investment statement, complete the application form and state that you are already an existing KiwiSaver member (remember to nominate your school in this process!). TOWER will automatically arrange for the transfer of your account from your existing provider, nothing more is required.

How do I sign up with TOWER?

You are able to sign up for the TOWER KiwiSaver Scheme either online or by completing an application form (you'll find one in this investment statement). The investment statement contains all the information you will need to make your decisions. Please read it carefully before completing your application. If you sign up online, you will automatically download a copy of the investment statement as part of the sign up process.

How do I nominate my school?

If you sign up by completing a physical copy of the application form, nominate your school by inserting the school name in full in section 9 (School Nomination) of the form.

When signing up online enter the name of your school in full, under the section headed up Adviser Details.

If you are already in the TOWER KiwiSaver Scheme, and want to nominate a school, or wish to change your nominated school, please complete this form.

Note: It is important that you clearly write the full name of your chosen school. This way you will make sure we know who you want us to be donating money too!

There are so many reasons to join the TOWER KiwiSaver Scheme, and TOWER has just given you one more. If you have any questions at all about our Cash 4 Schools programme, or to obtain a copy of the TOWER KiwiSaver Scheme investment statement contact us or call 0800 808 808 and we'll be happy to help.

**Terms and Conditions

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New and existing members of the TOWER KiwiSaver Scheme are eligible to nominate a school under the TOWER Cash 4 Schools programme, subject to the following Terms and Conditions:

1. Following registration to the TOWER Cash 4 Schools programme, TOWER Managed Funds Limited, or another member of the TOWER group (TOWER), will provide a quarterly donation to the school equal to 0.05% pa. of Funds Under Management for those TOWER KiwiSaver members who have nominated a school, provided that the quarterly donation payment is $50 or more. If the donation amount due to the school is below $50, the donation will be held until the next donation date, or until such time as the donation amount exceeds $50.
2. TOWER Managed Funds Limited, or another member of the TOWER group, will make a $20 one-off donation to the school for each TOWER KiwiSaver Scheme member that nominates the school as their beneficiary. The $20 donation will only be made for those members who are not already a member of the TOWER KiwiSaver Scheme.
3. No additional money is payable by the members, the Trustee, or the scheme.
4. TOWER reserves the right to review and amend these terms and conditions at any time.