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Changes to KiwiSaver

There is lots happening in the world of KiwiSaver over the next couple of months. We want to make sure you’re across everything that’s going on.

Changes to the Kiwi Wealth KiwiSaver Scheme

We’ve carried out a review of the Kiwi Wealth KiwiSaver Scheme and we’ve reduced our fees and are changing the asset allocation in some of the investment funds.

The fee changes took effect on 1 April 2019 and the asset allocation changes will take effect on or around 30 April 2019.

The table to the right shows our current fund structure and what the revised fund structure will look like once the changes are in effect.

Wondering if you are still in the right fund?

We recommend that all members regularly review their KiwiSaver fund choice.

Choosing the right fund is about balancing your attitude to risk with the length of time you have before you withdraw your investment.

Use our free tool to work out which Kiwi Wealth KiwiSaver Scheme fund might be right for you.

All it takes is a few minutes to find out.

Try our risk profiler tool

Government changes to KiwiSaver

A number of Government changes to KiwiSaver came into effect from 1 April. 
The changes include:

  • Introduction of two new employee contribution rates, 6% and 10%, which will be added to the existing rates of 3%, 4% and 8%.
  • Renaming of Contribution Holiday to Savings Suspension.
  • Reduction of maximum Savings Suspension period from 5 years to 1 year

From 1 July

  • People aged 65 or over will be able to join KiwiSaver.  They must still meet the other eligibility criteria of:

    - Living or normally living in New Zealand; and

    - A New Zealand citizen, or entitled to live in New Zealand permanently.

  • The five-year membership lock-in period will no longer apply for members aged 60-64 who join a KiwiSaver scheme for the first time. This means that when members turn 65:

    - they will usually be able to withdraw their savings no matter how long they've been a member

    - they will not be eligible for Government contributions

    - their employer can also stop their contributions

Please note: Anyone aged 60-64 who joined a KiwiSaver scheme for the first time before 1 July 2019 will still be subject to the five-year membership lock-in period, which means that they can be eligible for Government contributions and employer contributions for the five year period

Alternatively, if you have questions about the changes, our Customer Service team is here to help.
You contact them by email or call them during business hours 0800 427 384.