KiwiSaver basics
This is a voluntary, work-based retirement savings scheme in New Zealand.
What is KiwiSaver?
The 5 different contribution rates you can choose from.
What is 3%, 4%, 6%, 8%, 10%?
Conservative, Balanced, Growth, and Aggressive are types of these
What are KiwiSaver funds?
This is the age when you can normally withdraw your KiwiSaver savings.
What is age 65?
This is the minimum age you must be for employer contributions to start.
What is 18 years old?
The percentage of an employee’s gross salary that an employer must contribute.
What is 3%?
This type of KiwiSaver fund has the highest potential return.
What is an aggressive fund?
After at least three years in KiwiSaver, you can withdraw funds for this purpose.
What is buying your first home?
If you do not actively choose a KiwiSaver provider, your funds will be placed into this type of fund by default.
What is the balanced fund?
The maximum government contribution each year if consumers save a certain amount in their KiwiSaver.
What is $521.43?
People who want lower risk and more stable returns often choose this type of fund.
What is a conservative fund?
This is a government grant that helps first-home buyers who qualify.
What is the first home grant?
Funds that invest in companies that are involved with fossil fuels, weapons, gambling etc.
What are unethical funds?
This is the maximum government contribution for someone under 18.
What is 0%?
The type of fund you have for the long-term.
What is aggressive fund?
If you move to Australia permanently, this can happen to your KiwiSaver balance.
What is it can be transferred to an Australian superannuation fund?
Banks and investment companies are examples of these. They manage KiwiSaver funds.
What is KiwiSaver providers?
If an employee earns $60,000 per year and contributes 3% to KiwiSaver, this is the amount they personally contribute annually.
What is $1800?
If inflation is 7% but your KiwiSaver is earning 5%, your real rate of return is this.
What is -2%
Someone who permanently moves to a country other than Australia must wait this many years before they can access their KiwiSaver funds.
What is 1 year?