Fairway Pension Transfers Limited
Financial Advice Provider (FSP553326)

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Licensing information
Fairway Pension Transfers Limited (FSP553326, trading as Fairway Pension Transfers Ltd) is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice.

Fairway New Zealand Limited (FSP377146, trading as Fairway New Zealand Ltd) is an authorised body under our FAP licence and provides financial advice. 

Nature and scope of the advice
We provide financial advice about UK Pension transfers - provided by Britannia Financial Services Limited (BFSL).

Britannia Financial Services

Britannia Retirement Scheme

We provide Personal and Business Risk and Health insurance advice in relation to the following products provided by AIA, Partners Life, Fidelity, Cigna and NIB:

AIA

Life & Terminal Illness
Trauma
Income Protection
Mortgage Protection
Accidental Death
Health
Business and Rural
Total and Permanent Disability (TPD)

Partners Life

Death & Terminal Illness
Trauma
Income Cover
Mortgage Protection
Accidental Death
Health
Household Expenses
Total and Permanent Disability (TPD)
Specific Conditions
Hospital Cash cover

Fidelity

Death & Terminal Illness
Trauma
Disability (Income)
Mortgage Protection
Accidental Death
Total and Permanent Disability (TPD)
Survivors Income
Business and Rural Group Insurance

NIB

Health

Cigna

Life & Terminal Illness
Trauma
Income Protection
Business and Rural

We provide Investment and KiwiSaver advice in relation to the following products provided by Select Wealth Management Limited (Select) , ANZ Financial (ANZ), Integral Master Trust (IMT) and Booster:

Select

Selected Portfolios
KiwiSaver

ANZ Financial

OneAnswer Investments
KiwiSaver

Integral Master Trust (IMT)

Cash Holding Fund
Fixed Interest Fund
Diversified 40 Fund
Diversified 60 Fund
Global Equities Fund

Booster

KiwiSaver

We do not provide a Discretionary Investment Management Services (i.e., individual selection of investment assets for portfolio construction).

We provide mortgage advice in relation to the following product provided by Sovereign Home Loans:

Sovereign Home Loans

Go Home Loan

Fees or expenses
For the Britannia Retirement Scheme, Fairway Pension Transfers Ltd receives a tiered upfront sum of between 2.5% and reducing to 1.75%, dependant on the transfer amount, from Britannia Financial Services Ltd for all new transfers and a continuing annual servicing fee (trail) of up to 0.5%. Please refer to following table.

Item & Fees (GST exclusive)

UK Pension transfer fees:
Adviser fee

  • For the transfer up to NZ$100,000: $500 or 2.5% (whichever is greater)
  • NZ$100,001 - $200,000: 2.00%
  • Over NZ$200,001: 1.75%

Example

If your transferred UK pension is $205,000, the fees charged will be:

  • For the first $100,000: $2,500
  • Next $100,000: $2,000
  • Remaining $5,000: $87.50
  • Total fees charged: $4,587.50

Item & Fees (GST exclusive)

On-going annual adviser service fee

Up to 0.5% per annum. The exact percentage charged will depend on the total balance in the relevant Fund. This fee is deducted monthly from the balance in your relevant Fund.

Example

If the balance in the relevant Fund is $100,000 then the on-going annual adviser service fee is up to $500. This fee will be deducted from your balance in the relevant Fund and paid to BFSL.

The client will also be required to pay fees to Britannia Financial Services Ltd.

We will provide more specific details of these commissions once we have talked to you and understand your needs and at the time our advice is given.

For Personal and Business Risk and Health insurance products, Fairway Pension Transfers Ltd receive a commission from AIA, Partners Life, Fidelity, Cigna and Nib through which we place business. The amount of the commission we receive depends on the type and/or combinations of the products. Typically, we receive an upfront initial commission of between 80% - 200% of the initial annual premium and an annual ongoing commission of between 2.5% -20% for every year the premium is in force. We will provide more specific details of these commissions once we have talked to you and understand your needs/at the time our advice is given.  

The client will need to pay the premiums to the chosen supplier when the terms of the cover are accepted and the payment frequency is chosen. This amount will be based on a number of factors, including the extent of the coverage, the terms of the cover accepted (e.g., if loadings or restrictions are placed on the cover, the length of coverage and/or the amount of your excess).

For Investment products, Fairway Pension Transfers Ltd receive an annual ongoing commission of between 0% to 0.5% of the funds under management (FUM) for every year the investment is active.

From your investment, PIE tax (either 28%, 17.5% or 10.5%) will be automatically deducted from your annual fund earnings and forwarded to the IRD. All other management fees will be deducted by the fund provider from the investment balance. This percentage is agreed to on application and implementation of the investment..

For KiwiSaver Scheme products Fairway Pension Transfers Ltd receive an annual ongoing commission of between 0% – 0.25% for every year the investment is active.

From your KiwiSaver Scheme provider, PIE tax (either 28%, 17.5% or 10.5%) will be automatically deducted from your annual fund earnings and forwarded to the IRD. All other management fees will be deducted by the fund provider from the investment balance. This percentage is agreed to on application and implementation of the investment.

Conflicts of Interest
All our product providers provide our company/advisers with certain non-monetary benefits that support our business may include CRM access at rebated fees and subsidised training for our advisers.

To ensure our advisers prioritise our clients’ interests:

Complaints Handling and Dispute Resolution
If you are not satisfied with our service or financial advice, please tell us as soon as possible.

Call: 06 345 6184
Email: complaints@thefairway.co.nz

Write to: Fairway Pension Transfers Ltd
PO Box 149
Whanganui 4541
NEW ZEALAND

When we receive a complaint:

If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Insurance and Financial Services Ombudsman (IFSO).  IFSO provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction.

To contact IFSO:

Call: 0800 888 202
Email: info@ifso.nz

Write to: Insurance & Financial Services Ombudsman Scheme
PO Box 10-845
Wellington 6143
NEW ZEALAND

Duties information
Fairway Pension Transfers Ltd and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

Contact details
Fairway Pension Transfers Limited (FSP553326, trading as Fairway Pension Transfers Ltd) is the Financial Advice Provider.

Call: 06 345 6184
Email: service@thefairway.co.nz

Write to: Fairway Pension Transfers Ltd                
PO Box 149
Whanganui 4541
New Zealand

Last updated: 14/4/2021