KiwiSaver is a voluntary retirement savings initiative with a number of generous government incentives, aimed at helping you save for your retirement.

Who can join KiwiSaver?
Anyone can join KiwiSaver as long as you are under 65. If you are over 65 and already a member of KiwiSaver then you can transfer to us too. However you must be living or normally living in New Zealand, be a New Zealand citizen or have permanent residency.

I don’t think I can afford KiwiSaver, why do I need to save for my retirement?
You have probably heard a lot about KiwiSaver and retirement in the news over the last few years and should know why it is so important to save for your retirement. The facts are hard to ignore:

  • There is a generous government incentive on offer of $521.43 per year via the Member Tax Credit (conditions apply).
  • Life expectancies are increasing and you could live well into your 80’s.
  • Planning to live off New Zealand Superannuation alone may not allow you to enjoy your retirement or the lifestyle you are currently used to. NZ Super as at 1 April 2012 is $348.92 per week or $563.80 a couple (after tax).
  • If you’re hoping to maintain your current lifestyle when you retire you need to start making plans to start saving now. For example: If you’re earning a salary of $60,000 a year (pre-tax), you generally will need two thirds of your salary for each year of your retirement ($40,000) before allowing for inflation. NZ Super is only around $20,803 for an individual or $31,449.60 for a couple (pre-tax). 

Do you know what fund you are in?
Do you want kiwisaver specialist looking after your retirement fund?
Do you want kiwisaver specialist looking after your first home fund?

A few good articles for a good read

Brian Gaynor: Focus on the short term costs KiwiSavers billions
"We stick with low-risk funds but gaily switch power firms."

David Boyle on the 'classes' of KiwiSaver
David Boyle from the Commission for Financial Capability warns against being a KiwiSaver "sleepyhead".