Evergreen Retirement Trust (Evergreen, or the Scheme) is a registered New Zealand superannuation scheme.
The Scheme was established under a trust deed dated 1st December 2011 principally for the purpose of providing retirement benefits to natural persons who have joined the scheme (Members) or paying benefits to persons who are the trustees of a registered superannuation scheme or a KiwiSaver scheme (Trustee Members).
The most recent Scheme Trust Deed is dated 30 November 2016 as amended by a deed dated 4 April 2018.
The Scheme closed and commenced winding up on the 6 April 2018.
The Trustee announced the first interim wind up distribution for the Scheme on 31 October 2018, representing 84.39% of the Absolute Growth Fund and 44.46% of the Income Plus Fund. Individual member notification of the distribution was emailed to members at their last know email address. If members had provided Evergreen with all the necessary certified documentation and we had confirmed receipt, they were eligible to receive the first interim distribution payment. The Scheme administrator made the first batch of interim distribution payments to members nominated bank accounts or nominated QROPS or registered UK pension scheme on or about the 31 October 2018 and the second batch of payment on or about 31 January 2019.
Members who have not received their first interim windup distribution payment and Evergreen has received the correctly certified documents and we have confirmed this to you after 31 January 2019, the Trustee and the Manager have agreed to make the next follow up payment of the first interim windup distributions on or about 30 April 2019.
If a member has not provided us with a signed member nomination and certified documentation or if the certified documentation is incomplete, Evergreen is unable to make an interim distribution payment to the member or their nominated QROPS or registered UK pension scheme. Please provide Evergreen with the signed member nomination and certified copies of your proof of identity, proof of address and bank account details, as detailed in the Evergreen Retirement Trust Wind Up Member Nomination form that was sent to you attached to the notification email.
The Scheme is a tax efficient retirement savings vehicle for New Zealand and offshore members by being structured as a foreign investment zero-rate Portfolio Investment Entity (PIE).
The New Zealand Guardian Trust Limited is the trustee and manager of the Scheme (Trustee). The Trustee has delegated the management and administration of the Scheme to Evergreen Capital Partners, sub-manager of the Scheme. Evergreen Capital Partners has sub-delegated administration and registry to Trustees Executors Limited. Trustees Executors Limited acts as custodian for the Scheme.
Before the commencement of wind up the Scheme had a growth oriented investment fund, the Absolute Growth Fund in Pound Sterling and an income oriented investment fund, the Income Plus Fund in Pound Sterling. These funds are currently being liquidated for distribution to members who held units in the Scheme on the 6 April 2018.