KiwiSaver | Barnes Mossman Financial Services - Financial planning, investment advice, Kiwisaver, insurance, UK Pensions

Kiwisaver at a glance

KiwiSaver is available to anyone entitled to be be a permanent resident in New Zealand who is under the age of 65 and has an IRD number.

The following facts apply to most people, but will not necessarily apply to every individual. There are some exceptions.
Your funds in KiwiSaver are locked in until the age of eligibility for New Zealand Superannuation (currently 65), or for a period of 5 years whichever is the longer.
Early withdrawal may be possible in the event of serious illness, permanent emigration or significant financial hardship.
NOTE: Conditions apply, it is not just a matter of asking for the funds and getting them.

Investing through KiwiSaver

By using managed funds such as KiwiSaver you can access a wide range of investment choices, in NZ and overseas.
You can only particpate in KiwiSaver via a registered KiwiSaver provider. You cannot manage a KiwiSaver account for yourself.
Generally the higher growth funds have higher risk, and the lower growth funds have lower risks to an investor. The degree of risk in any type of investment affects both the long term performance (how much it grows) and also how volatile that return can be in any given period (how much the returns vary from time to time).
There are a range of investment choices reflecting the level of risk that you feel is appropriate for you, considering the length of time you will be a member, amount of money being invested and your expectations from KiwiSaver.

Our Kiwi Saver Partners

Fidelity Life

Benefits of KiwiSaver

All contributions that are credited to your account become yours at the expiry of the lock-in period, regardless of who contributed them.
Your KiwiSaver account will be made up of contributions to your account, plus or minus investment returns, and minus any withdrawals, account fees and taxes.
$1,000 kick start one-off contribution from the Government (generally takes 13 weeks to get into your new KiwiSaver account).
Up to $1,042.86 p.a. tax credit contributions in each scheme year (1 July – 30 June) from the Government applied to your account if you are over 18. This matching contribution is based on a dollar for dollar on your contributions UP TO a maximum of $1,042.86 p.a., so you have to be contributing to qualify for this.
Employee (yours!) mimimum contributions are 2% of gross salary, and contributions must be made for 12 months. After that can request a contribution holiday for up to 5 years at a time.
You can elect to contribute either 2%, 4%, or 8% of your gross salary, with 2% being the minimum from your pay. If you are not employed you can contribute directly to your KiwiSaver.
Employer contributions at dollar for dollar up to 2% of your gross salary. This 2% of your gross salary is paid by employers to your account without coming off your salary. The employer obligation is to match your contributions at 2% only. No employer contributions are payable during a contributions holiday.
Investment returns on all the accumulated contributions (government, employer and you) belong to you individually (note: investment returns can be negative).
KiwiSaver schemes generally have an independent Trustee appointed to look after the benefits and safeguard the interests of members.