For many of us, KiwiSaver is one of the biggest financial decisions we’ll make in life. This can seem daunting, however, with the right information you can make an informed choice for your future.
How does KiwiSaver work?
KiwiSaver is a voluntary savings scheme to help you prepare for retirement. There are a variety of funds and schemes, so it’s essential that you’re in the right one to reach your retirement goals.
KiwiSaver is made up of:
Minus withdrawals, fees and taxes apply
Are you making the most out of your KiwiSaver?
Being a KiwiSaver member unlocks a number of benefits you could be making the most out of, including:
Flexibility and comfort at retirement
KiwiSaver can help you live more comfortably and give you more options when you retire.
Employer contributions
Your employer adds in a contribution to your KiwiSaver fund on top of your own contributions.
Government contributions
Every year, the government contributes 50 cents for every dollar you contribute, giving you up to $521 extra in your KiwiSaver fund.
First Home withdrawal
If you meet the criteria, you can withdraw funds from your KiwiSaver account to put towards a deposit or part of the settlement amount.
Easy to invest
With automatic pay deductions and a range of investment options in each scheme, it’s easy to build an investment that’s right for your saving goals.
Choose your contributions
You can choose to contribute 3%, 4%, 6%, 8% or 10% to your KiwiSaver fund depending on your income and your goals.
Get my KiwiSaver sorted
Is your retirement savings on track?
Enter your details into our KiwiSaver calculator below to see how much you’ll have at retirement.
How much could you save?
Assumptions
These graphs are for illustrative purposes only to help you understand how different investment choices may affect KiwiSaver savings. The figures and data may not reflect actual returns and balances. The calculator assumes a minimum starting salary of $35,000. Please note that returns may be negative for any given period and will fluctuate due to investment and other risks. This includes the risk of not getting back all of the money that you put in.
These graphs are not intended to convey personalised advice and we recommend speaking with a specialised Investment Adviser if you would like KiwiSaver advice.
The figures used in these graphs are based on assumptions consistent with those used on sorted.org.nz and are as follows:
- There is the option to have the balances adjusted to take into account inflation. This is based on a rate of 2% so that results are shown in today’s dollars.
- Employer contributions of 3% of the stated before-tax salary are taken into account after deduction of employer’s superannuation contribution tax at the current applicable rates.
- Government annual contributions are applied based on the current contribution of 50 cents for every dollar of member contributions up to a maximum of $1,042.86 per annum.
- Salaries will increase by 3.5% each year (1.5% increase plus 2% for inflation).
- You do not take any savings suspensions.
- No amounts are withdrawn for any purpose
- The after-fee returns used are based on the sorted.org.nz KiwiSaver Calculator.
- The fees used in the calculation are based on the 5 year average fee for each fund type as a percentage from sorted.org.nz.
- All calculations are based on annual member and employer contributions.
- PIR rate used assumes 2 consecutive years of the current annualised salary.
- All figures are based on a PIR rate of 28%. The assumed rate of return used for each fund type choice is outlined below. These returns are after all fees and taxes
| Fund Type | Investment Return (per annum) |
|---|---|
| Defensive | 1.5% |
| Conservative | 2.5% |
| Balanced | 3.5% |
| Growth | 4.5% |
| Aggressive | 5.5% |
To be eligible, you must be 18 years or older and and mainly live in New Zealand. If you don’t meet these requirements for the full MTC year, the maximum amount you’ll get will be based on the time you are eligible for.
Tap to read assumptions
Moving your super or pension home
Have you relocated back to New Zealand from abroad? We can help you shift your overseas super or pension into a KiwiSaver account.
Our team of advisers can help you bring your retirement savings back home. Our team will work with you to confirm if you’re eligible and walk you through certain restrictions that may be in place. Reach out to us, and we'll guide you through the process.
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*Terms & Conditions ApplySimply sit down with a Enva adviser and you’ll go in the draw!* Plus, if you refer a friend, you’ll BOTH go in the draw to win a much-needed holiday.
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