How to boost your KiwiSaver balance

2 MIN READ May 13, 2019
With all of the talk of KiwiSaver lately, you might be wondering how yours is tracking. If you take a look and it’s not building up as much as you’d like, there are a few quick and easy ways that you can give it a…

Increase your contribution rate

Obviously the more money you’re putting in, the more money you’re going to have in there at the end of the day. With the introduction of more contribution rates, you can absolutely take advantage of these and opt for a higher one to increase your savings. You can change your contribution every three months and you can choose to contribute 3%, 4%, 6%, 8% or 10% of your earnings.

Don’t miss out on your free money!

If you’re in KiwiSaver and are over 18, you’re entitled to an annual member tax credit of up to $521.43 from the government every year. In order to receive this, you’ll need to have contributed at least $1042.86 during the year ending June 30th. If you haven’t contributed that much just yet, you’ve got a few more weeks to top it up and you’ll get that extra bonus!

Make voluntary contributions

You can make extra one-off payments into your KiwiSaver account whenever you like. Got a tax refund? To give your savings a bit of a boost, transfer it straight into your KiwiSaver account. Received a bonus at work? Add that in too! You don’t need to put in every extra bit of money you receive, but if you’re serious about saving for retirement, then it’s a great idea to top it up when you can.

Keep yourself informed

If you keep track of your KiwiSaver funds regularly and look over your statements, you might see some room for improvement. For example, you might be paying more in fees that you realise. There are some great online tools such as’s Fund Finder website where you can see the details of the fund you’re in and how much you’re paying in fees in comparison to other similar funds.

If you’re not sure where to start with your KiwiSaver, get in touch to talk to one of our friendly advisers today!


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