New Zealand Income Guarantee Limited

The Arrangement is the Lifetime Income fund (the Fund), which is a retirement product members of the general public can invest their retirement savings in. The Fund will manage the investment in a similar manner to a KiwiSaver scheme through the Balanced Portfolio which will invest in low cost share and fixed interest index funds. The Fund will also manage distributions to provide income for the Investor over their retirement lifetime (from age 65 onwards). The product ruling sets out the taxation consequences for investors in the Fund.