#9 First Home or Second Chance Withdrawal Form

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Please note that by providing your email address, you are consenting to .... (Note: a sample template of the letter of undertaking is on the following page.).
FIRST HOME OR SECOND CHANCE WITHDRAWAL FORM About this form: • Please complete in BLOCK letters •

The Trustee will require a minimum of seven working days from receipt of your fully completed form in order to arrange payment of your withdrawal request. This form must be accompanied by all required supporting information and your solicitor’s letter of undertaking.

IMPORTANT: Do you qualify for a First Home or Second Chance Withdrawal? You have contributed to the Scheme (or any other State Sector Retirement Savings Scheme or KiwiSaver scheme*) for at least three years from 1 July 2007; and You have not previously owned a home or land (whether alone or jointly with another person) or You have owned a home or land before and Housing New Zealand has confirmed that you qualify for a second chance home withdrawal (you will need to attach confirmation from Housing New Zealand that you qualify) and You intend the home to be your principal place of residence (i.e. not a holiday house or investment property) * You will be required to provide proof of any period of time spent making contributions to a State Sector Retirement Savings Scheme or a KiwiSaver scheme if this forms part of the three year contribution requirement. Important note: You cannot backdate your First Home or Second Chance Withdrawal request.

STEP 1: YOUR MEMBERSHIP DETAILS (to be completed by member) Name: Mr/Mrs/Miss/Ms

Surname/Family Name

Given Names

Home/Private Address: Phone (Work):

(Home):

(Mobile):

MOE Number:

Date of Birth:

School Employed at:

School Number:

/

/

Email address: Please note that by providing your email address, you are consenting to receiving information about the Scheme (including the annual report) electronically. Should you not wish to receive such information electronically, or should your email address change, you will need to advise the Scheme’s administration manager.

STEP 2: AMOUNT OF WITHDRAWAL (to be completed by member) You may apply to make a full or partial withdrawal of your savings in the Scheme (excluding your Employer Account). Subject to the requirements of the Scheme’s trust deed, I request: (tick one only)

A partial withdrawal of $

from my accounts (excluding my Employer Account) in the Scheme;

or

A full withdrawal of my available accounts (excluding my Employer Account) in the Scheme.* *

If you choose to make a full withdrawal, you will remain a member of the Scheme and may continue contributing to the Scheme, subject to the requirements of the Scheme’s trust deed.

Note: Any withdrawal will be deducted proportionately from each investment fund you have invested in. Acceptance of your first home or second chance withdrawal request is at the discretion of the Trustee. The first home or second chance withdrawal request will be processed by Mercer. Should your property purchase not proceed for whatever reason, the withdrawal funds will be returned to the Trustee for reinvestment in your Member Account in the Scheme. If approved, the payment will be made to your Solicitor’s trust account on the date your sale and purchase agreement becomes unconditional (or as soon as possible thereafter). If you have any questions regarding the payment’s progress, you can contact us on 0508 4 TEACHERSRETIRE (0508 4 83224).

Your MOE Number

STEP 3: SOLICITOR DETAILS (to be completed by member) Solicitor’s name (please print): Solicitor’s firm name: Solicitor’s contact details: Street number and name or PO Box

Suburb

Town/city

Telephone

Email

STEP 4: PRIVACY POLICY (to be read by member) Personal information on this form and in relation to your account will be handled by the Trustee and Mercer to provide and manage your withdrawal request. Your personal information may be disclosed to Mercer and other third parties (including your solicitor) as required, to the extent necessary for the purposes of processing your withdrawal request. Your rights in relation to personal information are governed by the Privacy Act 1993 and you have the right to access and request correction of personal information held about you. Please contact the Plan Secretary at Mercer.

STEP 5: STATUTORY DECLARATION (to be read and signed by member) I,

of Name of person making declaration

Address of person making declaration

being a member of the Teachers Retirement Savings Scheme confirm and declare that: • • • • • • •

• • •

I have been a contributing member of the Scheme for three years or more. I have read the privacy information in Step 4 of this Teachers Retirement Savings Scheme First Home or Second Chance Withdrawal form. I have never made a withdrawal from this Scheme for a first home or second chance withdrawal before. The property I am purchasing is intended to be my principal place of residence. I understand that should the information given be incomplete or incorrect the Trustee of the Scheme will not be able to complete its assessment of my application for my withdrawal without receiving the complete and correct information. I understand and accept that neither the Trustee nor the Manager accepts any liability for delays in processing this withdrawal request including liability for any loss or penalty I may sustain as a result of delay or failure in completion of settlement of my intended property purchase. I understand that my application for a withdrawal is subject to the approval of the Trustee, and the Trustee receiving: 1. a pre-printed bank deposit slip for my solicitor’s trust account; and 2. a certificate from my solicitor enclosing a copy of the sale and purchase agreement which clearly shows me as the purchaser and contains an undertaking (in a form acceptable to the Trustee) relating to the unconditional nature of the agreement and the application of funds withdrawn. I understand that my withdrawal value will be based upon the monthly interest rate applicable at the date my request is processed. I understand that should my property purchase not proceed for whatever reason, the withdrawal funds will be returned to the Trustee for reinvestment in the Scheme. Any solicitor who has or will provide information about my withdrawal may be approached by Mercer, and I hereby authorise such solicitor to give such further information in relation to this purchase as may be requested by Mercer. A photocopy of this authorisation shall be read as the original.

and I solemnly and sincerely declare that the information provided by me is true and correct. AND I MAKE this solemn declaration conscientiously believing the same to be true and by virtue of the Oaths and Declarations Act 1957. Please turn to following page to sign the declaration above. Page 2

Your MOE Number

STEP 5: STATUTORY DECLARATION continued (to be signed by member and witness) Signature of person making the declaration: Declared at:

this Place

day of Day

20 Month

Year

before me: Signature of person before whom the declaration is made

Name, occupation and address of person before whom the declaration is made. (Please note, individuals must fit the criteria outlined below.) Full name

Occupation

Address

Criteria for a statutory declaration made in New Zealand A statutory declaration made in New Zealand under the Oaths and Declarations Act 1957 must be made before a person described in section 9 of the Act including: •

a Justice of the Peace or;



a Barrister and Solicitor of the High Court; or



a Notary Public; or



the Registrar or Deputy Registrar of the High Court or of any District Court; or



a member of Parliament; or



Officers of the Crown or of a local authority within the meaning of the Local Government Act 2002, authorised for that purpose by the Minister of Justice by notice in the Gazette; or



an employee of Public Trust constituted under the Public Trust Act 2001, authorised for that purpose by the Minister of Justice by notice in the Gazette.

BEFORE RETURNING THIS APPLICATION, PLEASE ENSURE THAT YOU: Have answered all questions in this form and completed the statutory declaration in the required manner; Are fully aware of the requirements you must meet in order to qualify for this withdrawal and that any final approval is subject to the Trustee’s approval process; Have attached: Confirmation from Housing New Zealand that you qualify for a second chance home withdrawal (if applicable). A Solicitor’s pre-printed bank deposit slip. A copy of the sale and purchase agreement, which clearly shows you as the purchaser; and A letter of undertaking from your Solicitor that: •

The sale and purchase agreement in respect of your intended property purchase in unconditional in all respects; and

• The funds will be paid to the vendor as part of the purchase price or if the settlement is not completed by the due date or any extended date, the funds will be returned to the Trustee on your account with no disbursements deducted. (Note: a sample template of the letter of undertaking is on the following page.)

PLEASE MAIL THIS COMPLETED AND SIGNED FORM AND ALL REQUIRED SUPPORTING DOCUMENTATION TO: The Administration Manager of the Teachers Retirement Savings Scheme Mercer (N.Z.) Limited Level 8, 113 – 119 The Terrace P O Box 1849, Wellington 6140

Page 3

EXAMPLE ONLY: SOLICITOR’S LETTER To: Public Trust as Trustee of the Teachers Retirement Savings Scheme Re: (member’s name)

(the Member)

Reference: We refer to the Member’s application for a first home or second chance withdrawal from the Scheme (the Application), which (the Property).

relates to the purchase of (details of property) The settlement date for the purchase is (date)

.

Documents We enclose copies of the following: 1.

the agreement for sale and purchase of the Property with (vendor’s name) dated (date)

2.

(the Vendor)

(the Agreement); and

our pre-printed bank deposit slip.

We confirm that we act for the Member, who is to purchase the Property under the Agreement.

Undertaking We undertake to you that: 1.

as at the date of this letter any conditions to the Agreement are fulfilled or waived and the Vendor and the Purchaser(s) are unconditionally obliged to settle; and

2.

any funds received by us pursuant to the Application (the Funds) will be paid to the Vendor as part of the purchase price; or

3.

if the settlement under the Agreement is not completed by the due date in the Agreement or any agreed extended date, the Funds will be repaid to you as soon as practicable on account of the Member with no deductions or disbursements.

I confirm that I hold a current Practising Certificate issued pursuant to the Lawyers and Conveyancers Act 2006. Name of Legal Firm: Signature of Partner in Firm: Name of Partner in Firm: Dated: