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The NZRDA Member
Superannuation Plan
This presentation should be viewed in conjunction with
the NZRDA Member Superannuation Plan Investment
Statement and Q & A and in no way should be
considered a substitute for the NZRDA Member
Superannuation Plan’s Investment Statement.
Parties to the Plan

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Trustee: Lighthouse Superannuation Nominees Ltd, a
subsidiary of TOWER
Instigator: NZRDA
Participating Employers: All DHB’s who have signed to
Participate in the Plan
Members: Employees of the Participating DHBs
employed as Dental or Medical Officers
Administration Manager: TOWER
Investment Managers: ANZ Asset Management/ BNZ
Asset Management/ Bankers Trust/ ING & TOWER Asset
Management
Features & Benefits

What are the contribution levels?
Member: 2% of your salary for the first year of the
Plan, increasing to 4% for the second year and 6% for
the third and subsequent years
DHB: 2% of members salary for the first year of the
Plan, increasing to 4% for the second year and 6% for
the third and subsequent years
Note: members may also make lump sum investments or
contribute at a higher percentage of salary from that
shown above
Features & Benefits

When can the funds be withdrawn?
Anytime after normal retirement age or early
retirement age with Employer consent
Upon resignation, redundancy, death or forced
leaving of service due to ill health
Members may withdraw their own contributions once
every 5 years subject to a minimum withdrawal of
$1,000
Funds may also be withdrawn should a member
resign from one DHB to take a position with another
Investment Options

What options do I have?
There are 14 different options that you may choose
from-9 Managed Funds and 5 Single Sector Funds
They vary in volatility from a conservative Cash Fund
to a more aggressive NZ or International Shares Fund
There are 5 different Fund Managers ranging from
ANZ Asset Management (1), BNZ Asset Management
(3), BT (2), ING (1) & TOWER (7)
You May elect up to 4 different funds. A minimum of
25% in any one fund applies to contribution
cashflows
Refer to the Investment Statement for details
Conservative Fund Example
Global Fixed
Interest
20%
NZ Fixed
Cash
Interest
60%
20%
%
Please note this graph is for illustrative purposes only
Balanced Fund Example
Property
10%
International Equities
30%
Global Fixed
Interest
20%
NZ Fixed
Interest
NZ Equities
10%
Cash
10%
20%
Please note this graph is for illustrative purposes only
Growth Fund Example
NZ Equities
25%
International Equities 50%
Global Fixed
Interest
12.5%
NZ Fixed
Interest
12.5%
Please note this graph is for illustrative purposes only
The Best Performing Asset Classes
Annual percentage returns by asset class*
Asset
class
NZ
Shares1
2002
2001
2000
1999
1998
1997
1996
1995
0.88
13.39 -8.03 13.30 -4.42
4.30
17.33 20.12 -7.16 47.84 10.84
NZ Listed
Property2 10.46 12.12
7.34
-6.39
4.80
6.61
23.32 13.87
NZ
Bonds3
1994
2.79
1993
1992
-5.56 -39.23
8.67
4.75
11.12
0.06
14.09
6.79
8.80
13.23 -2.79 13.52 11.96
5.64
6.10
6.56
4.85
8.06
7.83
9.76
9.36
6.31
6.84
6.92
Global
Shares5
-21.61 -13.10 -8.28 28.91 24.38 26.97 23.07 24.48
1.23
23.27
-0.11
Global
Bonds6
12.10
NZ Cash4
8.20
10.27
0.44
13.08 12.80 13.00 21.42 -1.84 16.00 10.93
*Based on the following indices: 1. NZSE 40 Gross Index; 2. NZSE Property Gross Index; 3. CSFB Government Bond Index;
4. CSFB 90 Day Bank Bill Index; 5. MSCI World Accumulation Index hedged in NZ$; 6. SSB World Government Bond Index (hedged).
US Market Returns 1928 - 2002
50
VIETNAM
WAR
ENDS
WORLD
WAR II
40
1990’S
BOOM
30
20
10
2000
1997
1994
1991
1988
1985
1982
1979
1976
1973
1970
1967
1964
1961
1958
1955
1952
1949
1946
1943
1940
1937
1934
1931
-10
1928
0
-20
CUBAN
CRISIS
-30
-40
-50
GREAT
DEPRESSIO
N
*(Source: S&P500 - Bloomberg In US$ - To 31/12/02)
OIL
CRISIS
GULF
WAR
DOT.COM
BUBBLE
Time in the market (not market timing)
S&P 500 Acc Index*
1991-2001
Annualised Returns
All 2,608 trading days
9.27%
Minus 10 best days
4.66%
Minus 20 best days
1.26%
Minus 30 best days
-1.48%
Minus 40 best days
-3.89%
Minus 50 best days
-6.06%
Minus 60 best days
-8.09%
Minus 70 best days
-9.97%
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Source: S&P 500 Accumulation Index
*Period studied: June 1992-June 2002
Joining the Plan

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Complete the Application for Membership form and
post it to NZRDA
Once registered with TOWER deductions will
commence from your salary and TOWER will confirm
your membership in writing
At the same time you will be advised of your web
access number to ‘supersite’ so that you can monitor
your membership accounts and investment returns

DHBs joining @ 1 July 2003
Waitemata, Auckland, Counties Manukau, Waikato,
BOP, Lakes, Tairawhiti, Taranaki, Whanganui, Hutt
Valley, Capital & Coast, Nelson Marlborough,
Canterbury & Otago

DHBs joining 30 June 2004
Northland, Hawkes Bay, MidCentral, Wairarapa, South
Canterbury, West Coast & Southland
Important Points To Note

This information is given in good faith and has been derived from sources believed to be
accurate. However neither NZRDA nor any of their employees gives any warranty of
reliability or accuracy nor accepts any responsibility arising in any other way for errors or
omissions.

Past performance is not necessarily indicative of future performance.

The RDA, Participating Employers or the TOWER Group do not guarantee repayment of
capital or future performance of any fund within the NZRDA Member Superannuation Plan.

This material has been prepared specifically for illustrative purposes only and is not a
securities recommendation, it does not contain securities advice. In preparing this
presentation, we have not taken any individual investor's personal circumstances into
account. This presentation should not be relied upon as the basis for an investment
decision. Investors considering investing in the Plan should obtain a copy of the current
Investment Statement and consult their Financial Adviser.