Kiwi Wealth KiwiSaver Scheme
The Kiwi Wealth KiwiSaver Scheme can help you reach your big goals in life, whether that’s buying your first home or saving for a comfortable retirement. Kiwi Wealth is part of the same family as Kiwibank meaning profits don’t go offshore.
Key features & benefits
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If you're a Kiwibank customer, you'll see your KiwiSaver balance in internet banking so you can keep an eye on how you're tracking.
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Kiwi Wealth has a responsible investment policy that applies to all of their KiwiSaver funds.
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The investment team balance risk and return with the aim of keeping your fund heading in the right direction.
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Kiwi Wealth's investment specialists take a predominantly global investment approach, so your money is diversified to help manage risk.
How the Kiwi Wealth KiwiSaver Scheme works
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Choice of funds
Kiwi Wealth offers six KiwiSaver funds to choose from: Cash, Default Conservative, Conservative, Default, Balanced and Growth.
Each fund has a different level of risk, so finding the best fit for you depends on how much risk you’re comfortable taking on.
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Fees
You’re not charged fees based on performance, but on the type of investment fund you choose.
Annual Management Fees are up to 1% of your account balance, subject to a minimum fee of $40 (except the Default Fund). To read more about this fee and other fees that may apply visit kiwiwealth.co.nz
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KiwiSaver balance
If you’re a Kiwibank customer, you can see your balance alongside accounts in internet banking. If it isn't showing, contact Kiwi Wealth at questions@kiwiwealth.co.nz. You can also choose to receive a monthly text update with your balance.
KiwiSaver basics
KiwiSaver is a voluntary savings initiative designed to encourage New Zealanders to save for retirement. You can also dip into it to help you buy your first home.
Contributions
Employer & government contributions
You may be eligible for free money. If you’re working and contributing to KiwiSaver, your employer has to contribute at least 3% of your pre-tax salary or wages. If you’re aged 18 or over, the government also chips in $0.50 for each dollar you contribute, up to a maximum of $521.43 a year.
Your contributions
- If you’re working, you can choose to contribute 3%, 4%, 6%, 8% or 10% of your pre-tax salary or wages. If you don’t choose a contribution rate, the default rate is 3%. Money will automatically be deducted from your pre-tax salary or wages to your KiwiSaver account.
- If you’re self-employed or not working, you can contribute directly. With Kiwi Wealth, you can make direct contributions through internet banking, direct debit, or through Inland Revenue.
- You can also make voluntary contributions at any time.
Getting your money out
When you turn 65
You can usually get your money out when you reach 65. However, if you joined before 1 July 2019, you need to have been in the Scheme for at least five years before you can withdraw your money.
Before you turn 65
Your KiwiSaver investment is generally locked in until you turn 65, but there are limited circumstances where you may be able to withdraw some or all of it before then:
- Buying your first home
- Serious illness, including injury, illness or disability that results in you being totally and permanently unable to engage in work for which you're suited by reason of experience, education or training, or any combination of those things; or that poses a serious and imminent risk of death.
- Significant financial hardship
- Permanent emigration
- If you’ve transferred money from an Australian complying superannuation scheme, when you reach age 60 and satisfy the Australian ‘retirement’ definition.
Depending on what type of withdrawal you're making it generally can take between 10 – 15 working days to process.
When a contributor dies
If you pass away while you're a member of a KiwiSaver scheme, upon application to that scheme, your full account balance will be paid to your estate.
Helping you reach your goals
Buying your first home
If you’ve been in KiwiSaver for at least three years and you meet the eligibility requirements, you might be able to withdraw some of your KiwiSaver savings to go towards buying your first home.
If you’ve been in KiwiSaver for at least three years and you meet the eligibility requirements, you might be able to withdraw some of your KiwiSaver savings to go towards buying your first home.
Preparing for your retirement
No matter how far away, it's worth thinking about your retirement. Kiwi Wealth have guides, articles and tools to help you to get the most out of your investment in time for your retirement.
No matter how far away, it's worth thinking about your retirement. Kiwi Wealth have guides, articles and tools to help you to get the most out of your investment in time for your retirement.
Join the Kiwi Wealth KiwiSaver Scheme
You can join if you're living or normally living in New Zealand, and a New Zealand citizen or entitled to live in New Zealand permanently.
Already a Kiwibank customer?
If you have internet banking, you can apply online through internet banking. It takes less than two minutes to join.
Log in to Internet BankingStandard terms and conditions
Download the Product Disclosure Statement for the Kiwi Wealth KiwiSaver Scheme or pick up a copy from your nearest Kiwibank.
Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme (the Scheme) and is a related company of Kiwibank Limited. Kiwibank is a distributor but is not an issuer 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.
Investment decisions are important and you should seek financial advice before joining or switching to the Kiwi Wealth KiwiSaver Scheme.