Question 1

What is KiwiSaver?

Accepted Answer

KiwiSaver is a voluntary, work‑based retirement savings scheme designed to help New Zealanders build long‑term wealth. It’s a managed fund, meaning your money is pooled with other investors and invested across different asset classes.

Question 2

Who can join KiwiSaver?

Accepted Answer

NZ citizens or people entitled to live in NZ indefinitely
You can be any age
You’ll be automatically enrolled when starting a new job (unless exempt), or you can join directly through a provider.

Question 3

How much do I contribute?

Accepted Answer

Employees can contribute 3%, 4%, 6%, 8%, or 10% of their salary.

If you’re not working, you can make voluntary contributions directly to your provider. As at the 1st of April the minimum contribution by employees and employers increases to 3.5%

Question 4

Do employers contribute too?

Accepted Answer

Yes. If you’re eligible, your employer must contribute at least 3% of your gross salary to your KiwiSaver account.

Question 5

What government benefits do I get?

Accepted Answer

The governent will pay a maximum amount of $260.72 per year based on the following requirements: Contribution needed: $1,042.86 (between 1 July and 30 June) Partial rate: 25 cents per dollar if you save less than the maximum Exclusions: Employer contributions do not count toward your personal total

Question 6

Can I use KiwiSaver to buy my first home?

Accepted Answer

Yes. You can withdraw most of your balance (leaving at least $1,000) to buy your first home or land to build on. Government grants may also apply.

Question 7

When can I withdraw my KiwiSaver savings?

Accepted Answer

You can withdraw:

At 65 (standard retirement age)
For a first home
Under significant financial hardship
If you permanently emigrate (with restrictions)
For serious illness

Question 8

What KiwiSaver fund should I be in?

Accepted Answer

The right fund depends on:

Your time frame (when you’ll need the money)
Your goal (first home vs retirement)
Your risk tolerance (comfort with ups and downs)

Growth funds generally offer higher long‑term returns but more short‑term volatility; conservative funds offer stability but lower growth.

Question 9

What are the different types of Kiwisaver funds?

Accepted Answer

Depending on where you are in your journey to retirement, different fund types will suit your situation.The typical funds are Conservative, Balanced and Growth. Fund providers have their own language and many more funds than just three. You can go with their defaults or you can customise to suit your actual needs. Understanding the different considerations for what fund you should consider from a risk and return perspective based on your need to access the funds is a critical factor in your retirement fund choice.Conservative funds are good if you plan on using your KiwiSaver savings fairly soon, for example if you are planning to retire or buy a first home. These funds are low risk, so you’ll have a stable KiwiSaver balance and you can be confident your funds will be there when you need them.Balanced funds have slightly more risk than conservative; they invest in a combination of income and growth assets, aiming to provide moderate to high returns. This is a good option if you want to maximise your returns, but are worried about market fluctuations and don’t sleep well with high risk investments.Growth funds are great for those of us who don’t tend to worry about account balances! Your balance will go up and down more than in the other funds, with the potential for a much greater increase… but with the risk that goes alongside that! If you aren’t planning on accessing your KiwiSaver savings for many years, and the idea of a high growth account gives you a thrill (and doesn’t send you into a panic), this is a great option.Fund fees are charged by each KiwiSaver provider, and they all have their own calculations on how these are worked out. Some providers have a monthly admin fee for managing your KiwiSaver. Typically, higher-risk funds will have higher fees.Fund returns can be positive or negative depending on the market, and the higher the risk the greater the fluctuation. The lower the risk the smoother the ride, so conservative fund gains won’t be so great… but there’s also little chance of a significant drop in your funds. Higher-risk funds have more potential to dramatically change, in either direction! Various factors can affect returns – such as pandemics, war, and financial market crashes.

Question 10

How do I choose the best KiwiSaver provider for me?

Accepted Answer

Choosing the right provider depends on your goals, values, and risk tolerance. It’s my role to work through these with you to find the best fund.

Key factors to compare include:
Fees: Lower fees can significantly increase your long‑term balance. Even a 0.5% difference compounds over decades.
Long‑term performance: Look at 3-5 year plus returns for the same fund type (e.g., growth vs growth). Avoid choosing based on short‑term performance alone.
Investment philosophy & ethics: Some providers focus on ethical or sustainable investing, while others prioritise active management or low‑cost index strategies.
Service & tools: Consider the quality of their app, reporting, communication, and access to advice.
Fund type suitability: Make sure the provider offers the fund type that matches your timeframe and risk profile.

Question 11

Do I have a say in what my KiwiSaver is invested in?

Accepted Answer

Yes - you have control through your choice of provider and fund type. Each provider has its own investment approach, asset mix, and ethical screens. By switching funds or providers, you can align your KiwiSaver with your values (e.g., avoiding fossil fuels or weapons) or your preferred investment strategy (e.g., growth vs conservative).

Question 12

What is my PIR (Prescribed Investor Rate)?

Accepted Answer

Your PIR is the tax rate applied to your KiwiSaver investment earnings. It depends on your income over the last two years.

Question 13

Can I make extra voluntary contributions?

Accepted Answer

Yes. You can contribute lump sums or set up automatic payments directly with your provider. These contributions generally cannot be withdrawn until retirement or under special circumstances.

Question 14

Is KiwiSaver locked in?

Accepted Answer

Mostly, yes. KiwiSaver is designed for long‑term savings, so access is limited to retirement or specific withdrawal conditions.

Question 15

Why should I get KiwiSaver advice?

Accepted Answer

Because choosing the wrong fund, PIR, or contribution level can cost thousands over time. I can help you:

Match your fund to your goals
Optimise contributions
Understand risk
Plan for retirement or a first home

Question 16

Can I switch KiwiSaver providers?

Accepted Answer

Yes. Switching KiwiSaver providers is completely free and usually takes 10–20 business days. You don’t need to notify your old provider; I handle the entire transfer process for you

Question 17

Is there a fee to review my KiwiSaver?

Accepted Answer

No, reviewing or switching your KiwiSaver is free. I don’t charge a fee to assess your account, switch funds, or transfer to another provider.

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