Your questions answered

You may have a number of questions following the changes announced around the Bonus Bonds scheme, so we’ve provided the following FAQs to help answer these.

• Expand/collapse listCashing in Bonus Bonds
  • Expand/collapse listCan I still cash in my Bonus Bonds?

    No further redemption requests are being accepted. Valid redemption requests received by us before 9pm on 31 October 2020 will continue to be processed and paid. In a wind-up, all remaining funds in the Scheme are locked in to be distributed as part of the wind-up.

    We are confident that bondholders remaining in the scheme at the commencement of the wind-up will receive a share of reserves. While the process to confirm the final amount that each bondholder is entitled to is complicated and may take twelve months or more, we expect to distribute a large portion of what each bondholder is entitled to prior to November 2021. If this happens, bondholders will receive their total distributions in more than one payment.

    To pay out to each unit holder the distribution amounts bondholders are entitled to from the wind-up, we will need a NZ bank account and up to date contact details, but there’s nothing that bondholders currently need to do. We’ll be in touch through letters, email or further advertising if there’s anything required of you.

  • Expand/collapse listI made a cash in request prior to commencement of the wind-up, but haven’t received my money and it has taken longer than I was told it would. What should I do?

    While we received a high number of cash in requests prior to the scheme commencing wind-up, these are completed with the exception of requests where further information is required. We will continue to process all valid cash-in requests that we received prior to the commencement of the wind-up on 31 October 2020.

    If you have not received your funds, or been contacted directly by us regarding your request, please return to the branch that you completed your cash-in request. They will be able to view the status of your cash-in request.