Frequently Asked Questions

Welcome to our Frequently Asked Questions (FAQs) page. We understand that you may have questions or concerns regarding the Master Trust.

Our FAQs page contains a comprehensive list of common questions and answers that we've compiled to help you find the answers you're looking for quickly and easily.


Each Employer Plan in the Lifetime Master Trust has features and benefits that may be unique to that employer plan.


For confirmation of the specific features of your Employer Plan call us on 0800 254 338 or email


Who is Lifetime?

Lifetime Asset Management is the manager of the Lifetime Master Trust. It is part of the parent company Retirement Income Group which offers a range of products including Lifetime Retirement Income, Garrison Bridge Superannuation Scheme (UK Pensions), and Master Trusts.

Lifetime has $1 billion of assets under management.

Lifetime has an affinity and passion for developing transparent, low-cost, high value retirement savings and retirement income solutions that New Zealanders can have confidence in.

Lifetime is backed by a Board and Investment Committee of industry experts.


How does Lifetime keep my savings secure?

Lifetime appoints a Trustee Board (Lifetime Trustee Limited Board) which includes an Independent Trustee as required under section 131 of the Financial Markets Conduct Act 2013.

The role of the Trustee Director is to make sure the Scheme is managed properly. The Trustee Director must give the management of the Scheme proper care and attention and make sure the Scheme operates according to the law and the Scheme’s trust deed.

The basic duties of a Trustee Director are to:

  • manage the scheme in accordance with the terms of the trust deed governing the scheme and the Statement of Investment Policy and Objectives (SIPO).
  • exercise the care, diligence and skill that a prudent person would exercise in the same circumstances.
  • act honestly.
  • act in the best interests of scheme members.
  • treat scheme members equitably.
  • not make use of information acquired as a result of being a trustee director to gain an improper advantage or cause detriment to members.
  • properly invest trust funds.
  • seek advice (where appropriate).
  • exercise discretions properly and in good faith.
  • act in accordance with relevant legislation governing superannuation schemes such as the Financial Markets Conduct Act 2013.
  • monitor outsourced service providers.
  • ensure reports and information are provided to the members and regulator as required.

Further to this, Adminis is the custodian of the Lifetime Master Trust and holds the assets of the Scheme.

When you make a contribution to your Employer Plan, your savings are deposited into an Adminis bank account. Adminis then invests your savings in the fund(s) you have chosen.

Lifetime can only withdraw capital from your investment account in the event of:

  • paying the fees and taxes on your investment or
  • if you instruct Lifetime to withdraw all or part of your investment.

Lifetime is monitored by the Financial Markets Authority (FMA).


How do I access the member portal?

You can access your member portal at

If you have not previously registered for access, please click on ‘Register a New Account’ and follow the online instructions.

If you have difficulty accessing your member portal contact our help desk at or call 0800 266 268


Can I make a partial or full withdrawal?

You will generally not be able to access your savings until you are 65 or leave the service of your employer. In certain special circumstances, you may be able to withdraw funds earlier.  Contact us to discuss what options are available to you in your Employer Plan.


I have left my employer. Can I continue my investment in the Lifetime Master Trust?

While you cease to be a member of your employer’s plan you are able to continue saving for your retirement in the Lifetime Master Trust in the personal Deferred section.

The Deferred section is independent from your current employer and Employer Plan but is still managed by Lifetime. It has access to all the same funds you currently have; gives you access to the same portal you use and the transfer to Lifetime Savings is completed free of charge. If you wish you can continue with regular contributions to your savings.

You can transfer all or part of your savings to the Lifetime Deferred section and if required you are able to make regular or one-off withdrawals from the Scheme.


What happens when I leave my employer?

You have several options for your Employer Plan funds when you leave your employer.

  • You can transfer your savings to the Deferred section of the Scheme and choose to continue to invest in the same fund(s) or choose other fund(s) that are available in the Lifetime Master Trust. You can continue to contribute to your savings and if required you can make a partial or full withdrawal at any time.
  • You can withdraw your funds and your employers’ contributions (subject to your Employer Plan’s vesting scale).

If you are nearing retirement, you may be interested in Lifetime Retirement Income. Lifetime Retirement Income can help you turn your savings into a fortnightly or 4-weekly income designed to last for the rest of your life.

You can find more information on the Lifetime Retirement Income Fund here.

When you leave your employer, your payment will be made when Lifetime has received confirmation from your employer that you have left service and when we have received the final employee and employer contributions. Lifetime will then process your withdrawal and it should reach your bank account within three to five working days.


Why am I being asked to provide proof of identification?

The New Zealand Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) requires a service provider to know who they are providing services to. You can find more information here.


Can I stop contributing to my Employer Plan?

If you are on an approved leave of absence and with the approval of your employer, you can stop contributing to your Employer Plan. Your employer is not required to continue contributing while you are on leave.


Can I change the funds I am invested in?

You can switch your existing balance, or your future contributions or both. Contact us for a switch form and confirmation of the funds available in your Employer Plan.


Can I invest in the Lifetime Master Trust and a KiwiSaver Scheme?

Yes, in most circumstances you can invest in your Employer’s Plan and a KiwiSaver scheme. Your investment is accessible when you leave your employer unlike your KiwiSaver scheme investment which is not normally available until age 65.

Depending on the requirements of your Employer Plan you may be able to split your contributions between the Employer Plan and your KiwiSaver scheme. Your employer may also make contributions depending on their existing KiwiSaver contributions.

Contact us to discuss the specific options available within your Employer Plan.


What fees do I pay?

The Lifetime Master Trust charges a member fee which may be paid by the employer or employee depending on the Employer Plan set up. You also pay annual fund charges from the account balance. Details of the fees for your Employer plan are available in the Product Disclosure Statement Supplement, contact us if you would like a copy of this.


What tax do I pay?

Contributions received from you come from post-tax income. Contributions paid by your employer are subject to employer superannuation contributions tax (ESCT). These contributions will be taxed at a rate based on your income.

The Scheme is a portfolio investment entity (PIE). The amount of tax you pay on your investment returns is based on your Prescribed Investor Rate (PIR).


What will my investment returns be?

Returns for your Lifetime Master Trust investment are not guaranteed and will fluctuate depending on investment market movements, currency fluctuations and interest rate changes. The one, three and five year historical returns are available on our website.

Past performance is not necessarily an indicator of future performance. You should assess your tolerance for risk and timeframe for investing before choosing a fund. Contact us if you would like to discuss which fund is best for you.


What is investment risk?

Every investment has some level of risk. Risk is the chance that what you receive from an investment is different from what you expected to receive. Sometimes the ups and downs will occur unpredictably and for irrational reasons. Investments generally are affected by movements in market demand and supply, economic conditions, market sentiment, political events, natural disasters, and consumer demand.

To see all risks of investing with the Lifetime Master Trust please see the Product Disclosure Statement.


What happens to my investment if I pass away?

Your Employer Plan investment will be paid to your estate.