Frequently Asked Questions



What is Toi Tupu?

Toi Tupu is a savings and investment scheme that enables the Ngati Whatua Orakei Trust to make distributions to it's members.

The Trust would like to make an annual distribution (when possible) to all enrolled members, which will be invested on their behalf in Whai Rawa as a term deposit.

Do I need to have money to join Toi Tupu?

No. You do not need to put any of your own money into Toi Tupu. All you need is to be a registered member of Ngāti Whātua Ōrākei and complete the application process to enrol in Toi Tupu.

Can I invest some of my own money with Toi Tupu?

No. At the moment, the scheme is not accepting deposits from Members. The Toi Tupu scheme is limited to the distributions made by the Trust.

Can I give someone else, for example a family member, my term deposit?

No. You cannot give, sell or otherwise transfer your term deposit to anyone else. There are exceptions to this outlined in the Trust Deed

What will Whai Rawa do with my term deposit?

Your term deposit will be used by Whai Rawa in its various business activities. Whai Rawa has substantial property and development assets which it holds in a number of limited partnerships. Its current developments include:

  • A joint venture with Fletcher Residential Limited, known as Kowhai Ridge in Massey, Auckland;
  • Stage 1 of the Hilary Block development in Belmont, Auckland; and
  • The Roberts Block development in Hauraki, Auckland.

Is the Trust or any other entity providing a guarantee in support of Toi Tupu?

Whai Rawa owes you the amount of your term deposit and is obliged to pay you your term deposit, plus all interest you earn on your term deposit, when it is due. Whai Rawa has substantial assets. However, no one else guarantees your term deposit or any interest you earn on it. If Whai Rawa does not meet its obligations under Toi Tupu, you will be entitled to sue it for the amounts you are owed.

Are the term deposits “secured” against any particular assets?

No, the term deposits are “unsecured”. This means that, while Whai Rawa has substantial assets from which to pay term deposits and the interest earned, none of these assets will specifically back up Whai Rawa’s promise to pay you your term deposit and any interest earned.

If Whai Rawa does not pay you your term deposit or any interest earned, you can sue Whai Rawa. However, you cannot force Whai Rawa to meet its obligations to you by selling any particular asset Whai Rawa owns.

Whai Rawa has agreed that any security arrangements granted to others to whom Whai Rawa owes money will be limited to arrangements permitted by the Toi Tupu Trust Deed.

What are the key risks for me?

The term deposits are considered to be low risk, particularly given the size of the Toi Tupu scheme relative to Whai Rawa’s asset base (equity) as at 30 June 2017 of $760 m).

However, some risks will remain. A key risk is that Whai Rawa does not meet its obligations to pay you the amount of the term deposit and interest earned on the term deposit when you request a withdrawal in accordance with the Toi Tupu rules. This could occur if, for example, the investments made by Whai Rawa decline to a point where Whai Rawa is unable to pay these amounts, or if Whai Rawa does not have sufficient cash to pay you when you request the withdrawal.

So, in the unlikely event that Whai Rawa runs into financial trouble, you might lose some, or all, of the term deposit amount and any interest earned.

Does Whai Rawa have a credit rating?

No, Whai Rawa’s creditworthiness has not been assessed by an approved rating agency. But that does not mean that Whai Rawa is a high risk.

How can I find out more?

The Toi Tupu Trust Deed establishes Toi Tupu, and sets out the rules which Whai Rawa must follow. You can find all relevant documents here

Is the Toi Tupu scheme right for me?

If you would like financial advice about whether the term deposit is right for you, you should contact an independent financial adviser.



How do I enrol in Toi Tupu?

You will need to fill out our enrolment form online, or fill out a paper form and send it in to us.

What do I need to enrol in Toi Tupu?

You will need to be a registered member of Ngāti Whātua Ōrākei and complete the application form, which can be found here. The form asks you to provide your IRD number and your personal and withholding tax rates. This will help us determine the amount of your term deposit and pay the right amount of tax on the interest you earn on your term deposit to the IRD.

What about my children?

If your children are under-18 years of age and are registered members of Ngati Whatua Orakei, you can enrol them on their behalf.

What if I don't have an IRD number?

If you don’t have an IRD number, you will need to complete an IRD number application form, which can be downloaded from the IRD website. This can then be lodged at a NZ Post Shop or an Automobile Association (AA) Driver Licensing Agent.

If you do not have an IRD number or do not provide your IRD number, the highest marginal tax rate will have to be paid by the Trust on your behalf.

Do I need to keep Whai Rawa informed of my personal details?

Yes. You must tell us promptly in writing if you change your name or address or if there is a change in your personal financial circumstances which could lead to a change in your tax rates.

You can write to us at Ngati Whatua Orakei, PO Box 106-649, Auckland City 1143 or email us at

Opting Out

What does Opting Out mean?

If you are already enrolled in the Toi Tupu scheme, and would not like to participate anymore, you may request to Opt-Out.

If you Opt-Out, you will:

  • No longer receive Trust distributions under this scheme; and
  • Any Deposits held under your name will continue to be held and accrue interest.

You may re-enrol in the Toi Tupu scheme at any time after you have opted-out.

How do I Opt Out?

To Opt Out of the Toi Tupu scheme, you need to fill out the Opt-Out Form online, or send us an email.

If you are doing so on behalf of your children (under-18), you need to verify that you are authorised to do so.

What if I change my mind?

After you opt-out, you may re-enrol at any time through the normal enrolment process.


When can I withdraw my Deposits?

If you are 18 or older, each Term Deposit you hold may be withdrawn normally after 12 months from the date the Deposit was made.

Toi Tupu has two normal withdrawal periods:

  • 16th August - 13th September; and
  • 17th February - 16th March.

Applications must be received by 5pm on the last day of a period to be eligible.

Payment will be made by 10 working days after the closing date.

Applications to withdraw under financial hardship and/or for home purchasing are open at all times.

What if I am under-18?

If you were under-18 when you enrolled in Toi Tupu, you may not withdraw your Deposits from Toi Tupu until:

  1. You turn 18 years old; and
  2. You complete any financial literacy training we require.

You only need to pass the training once.

How do I withdraw my Deposits during the regular scheduled dates?

The online withdrawal portal will be active during the withdrawal period.

You will be able to apply to withdraw your Deposits by entering your information in the form.

How do I withdraw my Deposits under financial hardship or for home purchasing?

You need to fill in the the online withdrawal form, or send us an email.

The relevant policies can be found in our documentation.

Will withdrawing my Deposits affect my eligibility for future distributions?

No. If you withdraw any or all of your Deposits, you will continue to receive distributions from the Trust as they are made.


Will I earn interest on my term Deposits?

Yes. Each Deposit will earn interest daily while it remains in the Toi Tupu scheme. You will receive an interest statement every three months.

How is the interest calculated?

Each term deposit will earn interest at a “basic rate” that is 2% above a published market interest rate (known as the BKBM Rate) for the first 12 months. This interest rate will increase to a “bonus rate” of 4% above the BKBM Rate after your deposit has been invested for 12 months.

The rates are updated every 3-months to reflect current market conditions.

Interest rates are subject to change, as long as Whai Rawa gives sufficient notice (see the Trust Deed section 4 for more information).

So how much interest am I actually earning?

The current interest rates will be published on the Interest page, and updated every three months.

There is also a handy calculator at the bottom of the page that can help estimate how much your deposits will grow over time.

My Account

How can I access My Toi Tupu account?

"My Toi Tupu" is live now.

You can log in through the "My Toi Tupu" link at the top of the page.

You will need your HRN number and your date of birth to log in.

What will I be able to do with my account?

You are able to:

  • View your Toi Tupu account balances
  • Update your contact details
  • Access the withdrawal portal during scheduled withdrawal periods.

For any enquiries please refer to the Frequently Asked Questions or contact us at