What is KiwiSaver? How does it work?

The main things to know are:

• KiwiSaver provides a straightforward way for you to save for your retirement.

• If you are normally resident in New Zealand and you have an IRD number you can join KiwiSaver.

• In most cases KiwiSaver funds are locked in until the age of 65. There are some exceptions though, like for first home withdrawals or in times of hardship.

• Deposits (or contributions) can be made directly through your employer, setup as automatic payments from your bank account, or made as one-off payments.

• If you have a job your employer has to make regular deposits into your KiwiSaver account – at least $3 for every $100 you earn.

• If you’re over 18 and contribute at least $1,042 in a given year (or $20 a week), the government will top up your KiwiSaver account by another $521… for free!

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Where does my money go?

• Your contributions(and those of your employer) are paid into your KiwiSaver account and in turn invested on your behalf into one or more funds of your choosing.

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Can I lose money with KiwiSaver?

• Like any investment KiwiSaver is complex and there is risk, but KiwiSaver providers operate within a highly regulated environment.

• Some funds and investments will go up and down over time because of how financial markets work. Most people choose funds that suit their individual savings’ goals, e.g. some funds are more conservative and some are more aggressive – it’s a matter of risk versus return.

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What next?

• Talk to us - we will happily help you setup your KiwiSaver or find the right fund for your personal risk appetite.

• We can also help bring your Australian Super back to New Zealand and into a suitable KiwiSaver scheme.

• Our investment specialists are here to help find the best KiwiSaver investment option for you.

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