There are a few main ways to fund your retirement - NZ Superannuation and personal savings and investments. Superannuation only goes so far and many people prefer to top it up.
KiwiSaver is a great way to get your retirement savings started. KiwiSaver is a government superannuation savings scheme delivered in conjunction with banks and other financial institutions.
Kiwibank distributes the Kiwi Wealth KiwiSaver Scheme, which is 100% NZ-owned and operated, with first-class customer service and innovative reporting that shows you where your money’s invested down to individual shares, funds and currencies. Kiwibank customers that join the Kiwi Wealth KiwiSaver Scheme can view and manage their account through Kiwibank Internet Banking.
To work out how much you’ll need in retirement, consider how many years you’re likely to be retired for and how much it’ll cost to live the lifestyle you want. Compare the annual cost to what you’re likely to get from superannuation. If there’s a shortfall, you’ll need to find a way to top up your NZ Super.
Will you live in your own home or will you rent? Is living with family an option or are you considering a retirement village? Having an idea now of where you might live later can help you work out how much you’ll need to save.
If you have a larger family home you may want to consider downsizing to release some equity.
Many people pass away without making a will, which can mean extra financial and emotional stress for family and friends. Enlist the help of someone experienced when making your will, they’ll make sure everything’s done properly so the will is valid.
It’s also worth appointing a power of attorney - someone who can take care of your personal and financial matters if you can't.
We reward SuperGold cardholders with no transaction fees on all Kiwibank everyday accounts (service fees may apply). We also offer discounts on home and contents insurance.
To enjoy these benefits, simply present your SuperGold card at your local Kiwibank. Services fees may apply. If you’re not yet a Kiwibank customer, call us on 0800 11 33 55 to make an appointment to set up your accounts.
We’ve always been a great supporter of the New Zealand Grey Power Federation. We have a formal partnership with Grey Power, where we pay them a commission for every dollar a Grey Power member or the Grey Power federation deposits with us.
If you’re a Kiwibank customer and a Grey Power member, and want to be included in our commission support of Grey Power, you need to let us know.
You can notify us of your Grey Power membership by downloading and completing a Grey power commission form (PDF 27.2 kB). Drop the form into your local Kiwibank or send it to:
Private Bag 39888
If you’re planning on opening a new Kiwibank account and want to support Grey Power, you’ll need to let us know you’re a Grey Power member. Please print off and complete a copy of the Grey power notification form (PDF 24.9 kB) and bring it with you when you come in to open your account.
If you'd like to know more about the Grey Power and Kiwibank partnership, please email email@example.com or ask at your local or national Grey Power office.
Download the Investment Statement for the Kiwi Wealth KiwiSaver Scheme (PDF 465.6 kB) or pick up a copy at your local Kiwibank.
Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme and is a related company of Kiwibank Limited. Kiwibank is a distributor but is not an issuer or promoter of the Scheme. Investments made in the Scheme do not represent bank deposits or other liabilities of Kiwibank and neither they nor any other person guarantees the repayment of members’ interests in the Scheme or the payment of any earnings or returns on investment in the Scheme. Investments in the Scheme are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances and loss of investment value.
This is intended as general information only. It does not take into account your financial situation and goals and is not personal advice. For advice about your particular circumstances please see a financial adviser, or make an appointment with a Kiwibank Wealth Adviser. A disclosure statement required under the Financial Advisers Act 2008 is available, free of charge, from your Kiwibank Wealth Adviser or on request by calling 0800 529 325.