KiwiSaver

Considering KiwiSaver?

KiwiSaver is a savings scheme designed by the government to help you save for your retirement, or support you in buying your first home. It’s 100% voluntary, but there are some incentives to encourage you to get saving. 

At a glance

• Active help saving for your retirement or your first home (conditions apply) 
• A choice of how much you contribute between 3%, 4% or 8%
• Approximately 3% contribution of your gross pay from your employer, if you are between 18-64 years old 
• Member Tax Credit of $0.50 for every $1.00 you save with a maximum of $521.00 per year if you are over 18 years old

More information about KiwiSaver benefits

About Fisher Funds

We distribute the Fisher Funds KiwiSaver Scheme. Fisher Funds are a specialist investment manager and just like us, they’ve developed a reputation for their great customer service.

You’ll be kept up to date:

• Monthly e-newsletter to keep you up-to-date with your savings, including where your money is invested and the performance of each Fund
• Detailed monthly online reports about your own KiwiSaver scheme amount
• 24/7 online account access
• Six monthly transaction statements

Learn more about Fisher Funds

Who can join?

If you’re between 18 -64 years old and start a new job, you’ll be automatically enrolled in a KiwiSaver scheme. You can only have one KiwiSaver scheme provider at a time, but if you choose, you can opt out after two weeks of starting your job, and can change provider any time. Even if you aren’t working, you can still join the KiwiSaver Scheme and enjoy a number of benefits. This includes self-employed workers, stay at home parents, beneficiaries and children. 

You must be: 

• Living in New Zealand as a citizen or permanent New Zealand resident 
• Aged under 65 years

How much could you save?

Find out how much KiwiSaver could help you save for your retirement, or first home, with the KiwiSaver calculator at sorted.org.nz

Sorted KiwiSaver Calculator

Making contributions

If you're an employee

Contributions to your Kiwisaver scheme will be made by your employer. They will deduct your chosen percentage from each pay and send them to Inland Revenue along with their own employer contribution. Inland Revenue will then forward your contributions to your KiwiSaver scheme provider. 

If you're not working

Contributions to your KiwiSaver scheme will need to be made by you, directly to your KiwiSaver provider. You’ll be able to control how much and how often you contribute with no minimum annual contribution limit for the Fisher Funds KiwiSaver Scheme.

If you need a contributions holiday

You can choose to apply for a contributions holiday after one year in KiwiSaver. The holiday can be in place from three months - five years, and can be extended if you need.

What your fees could be

Administration Fee

• $3 Administration fee each month to cover costs of basic administration of your account. This’ll be marked on your monthly statement.

Management and Performance fee

• Management fee covering the cost of investment research. This fee is a percentage of your investments, and is calculated daily, charged monthly. 
• Performance fee: If the growth fund performance benchmark is beaten, you will be charged a performance fee. This is charged annually, but is subject to beating performance benchmark and other criteria. This isn’t a guaranteed charge.

What you won’t be charged fees for

• There is no fee to join or leave the Fisher Funds KiwiSaver scheme.
• At retirement you won’t be charged a fee to withdraw your savings
• You can change your investment strategy anytime, at no cost.

Learn more about Fisher Funds KiwiSaver Scheme fees

Ready to access your Kiwisaver scheme savings?

There are two main ways you can take out your hard earned KiwiSaver scheme savings: 

• For your first home – When you make a first home withdrawal (conditions apply)
• For your retirement – When you’re eligible for NZ Super (currently 65) and have been a KiwiSaver scheme member for at least five years

If you join a KiwiSaver Scheme after you’re 60 years old, you’ll still have to wait the minimum membership time of five years before you can access your savings (even though you may have reached over 65).

A range of options are available to help you manage your savings when you retire, including withdrawing some or all of your savings, or setting up a regular withdrawal.

If you suffer a serious illness, significant financial hardship, or in the case of you leaving New Zealand permanently (excluding Australia) you may be eligible to withdraw some or all of your contributions early. If you pass away your savings will be paid to your estate.