NZQA registered unit standard
28378 version 1
Page 1 of 3
Title
Demonstrate understanding of key terms and conditions of
KiwiSaver and how they apply to typical client situations
Level
5
Credits
5
Purpose
People credited with this unit standard are able to demonstrate
understanding of key terms and conditions of KiwiSaver and
how they apply to typical client situations.
Classification
Financial Services > Financial Services - Professional Practice
Available grade
Achieved
Explanatory notes
1
References
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
Income Tax Act 2007;
KiwiSaver Act 2006;
relevant industry codes of practice;
and all subsequent amendments and replacements.
2
Range
Assessments requiring application or demonstration of skills and knowledge may be
performed using workplace evidence or evidence derived from simulation or scenario
based activities.
All activities must comply with legislation, regulations, and best practice, including
any guidance notes published by the agency responsible for the relevant enactment
or code.
Outcomes and evidence requirements
Outcome 1
Demonstrate understanding of key terms and conditions of KiwiSaver and how they apply
to typical client situations.
Range
for the purposes of assessment, explanations are to cover all of the items
specified in evidence requirements 1.1 to 1.6. Application may cover a sample
of the items. No less than sixteen items are to be included in the evidence of
application. At least two must be included from each of the six evidence
requirements the remaining four can be drawn from any of the evidence
requirements.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28378 version 1
Page 2 of 3
Evidence requirements
1.1
Explain eligibility criteria of KiwiSaver and how they apply to typical client
situations.
Range
new employees, existing employees, under age 18, over age 65,
self-employed.
1.2
Explain the role of Inland Revenue in the enrolment of KiwiSaver members,
collection of contributions, and the licensing of providers.
1.3
Explain contribution requirements and options for KiwiSaver, and how they
apply to typical client situations.
Range
1.4
minimum member, voluntary member, employer, self-employed,
nil contributions, suspending contributions.
Explain Government contributions to KiwiSaver and how they apply to typical
client situations.
Range
1.5
Kick Start, Member Tax Credit.
Explain criteria for access to KiwiSaver account balances and how they apply to
typical client situations.
Range
1.6
entitlement age, 5 year rule, first home withdrawal, death,
permanent migration (Australian and elsewhere), financial
hardship, serious illness.
Describe the tax regime that applies to KiwiSaver investments and
contributions.
Range
1.7
prescribed investor regime, deductibility of contributions.
Describe the ownership of KiwiSaver accounts.
Planned review date
31 December 2017
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
19 February 2015
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28378 version 1
Page 3 of 3
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact The Skills Organisation reviewcomments@skills.org.nz if you wish to
suggest changes to the content of this unit standard.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016