Training

A QUESTION OF EPA?

This question was raised at a Support Group and I asked the JP to write down the scenario that he had experienced and that I would seek an answer from the Royal Federation Trainer.  Here is the scenario.

A woman (I’ll call her “Sue”) came in with an ASB KiwiSaver funds withdrawal Statutory Declaration.

She had an Enduring Power of Attorney (Financial) for the donor (I’ll call him “Bill”), The KiwiSaver account is in Bill’s name.

I asked her to put her name and add after her name as Enduring Power of Attorney for Bill in the Statutory Declaration name part.

And then sign her name as Sue, EPA at the bottom of the declaration once I took the declaration. Of course, I had satisfied myself that she was who she said she was, and to contact me if there were any issues. To date, no concerns have been raised to me by either the bank or by Sue, so I presume I did the right thing.

Clarification of the procedure was then sought from the Royal Federation Trainer.

Our Trainer confirmed that the action taken in this circumstance is completely fine with possibly the only additional information that could have been done is 

“I Sue hold an Enduring Power of Attorney for Bill” rather than signing the Statutory Declaration as Sue EPA at the bottom.

With EPA’s it is difficult to provide a definitive rule to meet different scenarios as different agencies will have their own rules for what will be accepted.