Make the most of your KiwiSaver

3 MIN READ March 29, 2018
The financial year is at a close. Now is a good time to refresh and have a think about the different ways you can maximise your savings and get the most out of KiwiSaver.

You’re not a member of KiwiSaver? Well then join up! It’s a great way to maximise your savings and get free money from the government.

KiwiSaver Tip 1: Maximise the benefits

Make sure that you are contributing a minimum of $1,042 before June 30th every year and you will qualify for the member tax credits (free money)! Even if you are not regularly contributing to KiwiSaver, it’s worth making sure that you deposit your $1,042 to get the extra money from the government.

KiwiSaver Tip 2: Increase your KiwiSaver account balance:

Do you know what KiwiSaver fund you’re in? If you are unsure, you are probably in the default fund.

The current default providers are:
AMP, ANZ, ASB, Booster, BNZ, Fisher Funds, Kiwi Wealth, Mercer and Westpac.

The default fund is a conservative fund which is designed to reduce the potential for frequent or large drops in balance. This is great for those wanting to access their funds over the next two to six years as it is lower risk and provides some short-term certainty. Those who are over ten years away from retiring can take advantage of a higher growth fund and ride out any market fluctuations to achieve a better long-term return.

If you are unsure about what fund you’re in and would like to know more about KiwiSaver, talk to a Haven adviser.

KiwiSaver Tip 3: Maximise your Contributions

The famous Albert Einstein said “Compound interest is the eighth wonder of the world. He who understands it earns it…and he who doesn’t…pays it”.

You have a choice of three contribution rates, 3%, 5%, or 8%. Most KiwiSaver members contribute the minimum amount of 3% but if you can, increase your contributions from 3% to 8%. This shift could add thousands more to your balance thanks to compound interest. Currently, the KiwiSaver scheme allows a member to change their contribution rate every three months. So if you increase your rate but are struggling to adapt to your new budget, you can always return to an achievable contribution.

KiwiSaver has a variety of funds and schemes, so it’s essential that you’re in the most appropriate one for your life stage and risk profile. With so many options available, choosing a KiwiSaver can get confusing. You’re responsible for choosing the right provider and for the long-term benefits you may receive – so it’s pivotal to know what’s out there. A Haven Adviser has a full understanding of KiwiSaver schemes, the benefits and your options. With the right advice, you can make better-informed decisions to benefit your future. To make a free appointment, just send an email to

To learn more about KiwiSaver here our some helpful links:

This article is not intended to give personalised KiwiSaver advice, if you are wanting investment advice we suggest you talk to an investment broker.

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