INFO GUIDES, QUICK READS & MORE

Looking for answers, info or inspiration?

Understanding risk, planning your savings, how retirement planning needs change through life, and much more. You name it, you’ll find a helpful read here. We have quick reads, lifestage guides and more – practical, expert information to grow your retirement planning savvy.
Helpful reads for your retirement planning

Quick Reads & Info Guides

Retirement Planning Guides

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The long view...

Q3 2023

A mixed bag for investors.

KiwiSaver After 65

Don't be in a hurry to cash out your KiwiSaver.

One Year vs. 30 years

Your time horizon is what matters.

Get the latest Future Focus Report

Like to stay informed about personal finance and retirement planning? Our Future Focus report is for you. - Click on image to download

SOMETHING FOR YOU, ON US.

Intuitive and easy to use. Smart tools for your financial life.

PocketSmith

Kiwisaver Faqs

Have a question or two?

HOW DO I DETERMINE MY RISK PROFILE?

WHAT ARE THE KIWISAVER CONTRIBUTION RATES?

WHEN CAN I WITHDRAW MY KIWISAVER?

HOW DOES KIWISAVER WORK FOR SELF-EMPLOYED?

WHEN SHOULD I PLAN FOR RETIREMENT?

Your investment risk profile is made up of three key components:

1. Risk Capacity – This is a measure of how much risk you can take on without potential losses causing irreparable harm to meeting your investment goals.

2. Risk Tolerance. (i.e., willingness to take risk) represents the maximum amount of uncertainty you, as an investor, are willing to accept when making an investment decision.

3. Risk Need. This is an assessment of the amount of risk your portfolio needs to take on in order to achieve your investment goal.

Our KiwiSaver Risk Profiling tool can be used as a guide for your risk tolerance and capacity and will provide an assessment as to which type of fund will be suitable for you. Click here to access the calculator

Employees

Employees can choose to contribute 3%, 4%, 6%, 8% or 10% of your gross (before tax) wage or salary to your KiwiSaver account. This is deducted from your salary or wages before you receive it. Your employer is also required to contribute at least 3% of your salary or wage.

Self-Employed

Unless you are on PAYE, there are no specified contribution rates – you can contribute as much as you want when you want. The key is to ensure that you are taking advantage of the full government subsidy by adding at least $1,042 to your KiwiSaver each year.

There are four withdrawal provisions in KiwiSaver as follows:

1. At age 65 your funds become available to withdraw.

2. As a first-home buyer. If you have been in KiwiSaver for at least 3 years, you are able to withdraw funds to help you in purchasing your first home. You must leave at least $1,000 in your account plus any funds received from an Australian qualifying superannuation scheme. 

3. If you die before reaching 65, your KiwiSaver balance becomes part of your estate and can be withdrawn by your executors. 

4. In cases of significant financial hardship. This would be assessed on a case by case basis.

5. If you move permanently overseas. You can withdraw all of the funds except any government contributions which must be returned.

There are no specific provisions in KiwiSaver for self-employed people who operate outside the PAYE system. However, you are still eligible to join KiwiSaver and you are entitled to the government subsidy which equates to $0.50 for every dollar you save in KiwiSaver. The maximum government contribution each year is $521 whichs means you have to contribute at least $1,042 each year to maximum the benefit.

Planning for retirement is something effectively  starts as soon as you start work – by joining KiwiSaver.

However, it’s not until you reach your 40s (or 15 to 20 years out from retirement) that you need to start thinking more seriously about retirement planning;although still some way off, putting a plan in place at this stage gives you time to address potential gaps in your retirement needs.

Check out our lifestage guides for more information about retirement planning at every stage of life.

 

HOW DO I DETERMINE MY RISK PROFILE?

Your investment risk profile is made up of three key components:

1. Risk Capacity – This is a measure of how much risk you can take on without potential losses causing irreparable harm to meeting your investment goals.

2. Risk Tolerance. (i.e., willingness to take risk) represents the maximum amount of uncertainty you, as an investor, are willing to accept when making an investment decision.

3. Risk Need. This is an assessment of the amount of risk your portfolio needs to take on in order to achieve your investment goal.

Our KiwiSaver Risk Profiling tool can be used as a guide for your risk tolerance and capacity and will provide an assessment as to which type of fund will be suitable for you. Click here to access the calculator

WHAT ARE THE KIWISAVER CONTRIBUTION RATES?

WHAT ARE THE KIWISAVER CONTRIBUTION RATES?

Employees

Employees can choose to contribute 3%, 4%, 6%, 8% or 10% of your gross (before tax) wage or salary to your KiwiSaver account. This is deducted from your salary or wages before you receive it. Your employer is also required to contribute at least 3% of your salary or wage.

Self-Employed

Unless you are on PAYE, there are no specified contribution rates – you can contribute as much as you want when you want. The key is to ensure that you are taking advantage of the full government subsidy by adding at least $1,042 to your KiwiSaver each year.

WHEN CAN I WITHDRAW MY KIWISAVER?

There are four withdrawal provisions in KiwiSaver as follows:

1. At age 65 your funds become available to withdraw.

2. As a first-home buyer. If you have been in KiwiSaver for at least 3 years, you are able to withdraw funds to help you in purchasing your first home. You must leave at least $1,000 in your account plus any funds received from an Australian qualifying superannuation scheme.

3. If you die before reaching 65, your KiwiSaver balance becomes part of your estate and can be withdrawn by your executors.

4. In cases of significant financial hardship. This would be assessed on a case by case basis.

5. If you move permanently overseas. You can withdraw all of the funds except any government contributions which must be returned.

HOW DOES KIWISAVER WORK FOR SELF-EMPLOYED?

There are no specific provisions in KiwiSaver for self-employed people who operate outside the PAYE system. However, you are still eligible to join KiwiSaver and you are entitled to the government subsidy which equates to $0.50 for every dollar you save in KiwiSaver. The maximum government contribution each year is $521 whichs means you have to contribute at least $1,042 each year to maximum the benefit.

WHEN SHOULD I PLAN FOR RETIREMENT?

Planning for retirement is something effectively  starts as soon as you start work – by joining KiwiSaver.

However, it’s not until you reach your 40s (or 15 to 20 years out from retirement) that you need to start thinking more seriously about retirement planning;although still some way off, putting a plan in place at this stage gives you time to address potential gaps in your retirement needs.

Check out our lifestage guides for more information about retirement planning at every stage of life.