Top five KiwiSaver questions

We’ve identified the top five questions our customers ask and answered them below.

Question One: Which fund should I choose?

A key focus in investment management is the relationship between risk and return. If you’re seeking higher returns, you need to be willing to accept more risk (for example, by investing in a fund with more growth assets). If you’re seeking lower risk, you need to be willing to accept lower returns (for example, by investing in a fund with more income assets).

Complete our online Risk Profile Tool to identify your risk/return profile and which fund might be right for you.

Find out more about our funds, including the Lifetimes option, where at any one time your savings are invested in one of our six funds based on your age.

If you need more help deciding which fund is right for you, seek personalised financial advice from a financial adviser.

Tell us your choice

If you have access to ANZ Internet Banking, you can switch your fund online. Otherwise you can call us on 0800 736 034 or complete a change form and return to us.

Question Two: How have my funds performed?

Fund performance and unit price reports are available online. Select one of the KiwiSaver schemes below to view the relevant reports:

We also provide a review of local and global markets each quarter. If we have your email address we’ll let you know when the market review is available. To provide or update your email address, email your full name, date of birth and IRD number to service@anzinvestments.co.nz, or call us on 0800 736 034.

Question Three: How does KiwiSaver work?

KiwiSaver is a long-term savings initiative designed to help you save for your retirement. Watch our video to find out what KiwiSaver is all about.

Visit ‘KiwiSaver 101’ to find out more about KiwiSaver’s benefits and risks, and your contribution options. 

Question Four: What are my options now I’ve turned 65?

When you turn 65 (and have been in KiwiSaver for at least five years), you’ll gain access to your KiwiSaver savings. At this point, if you are a member of the ANZ KiwiSaver Scheme or ANZ Default KiwiSaver Scheme you have a few options:

  • Leave your savings in your KiwiSaver account: you can leave your savings in your KiwiSaver account and withdraw them when you need to. And if you want to, you can continue contributing to your KiwiSaver account.
  • Withdraw some of your savings: you can set up a regular withdrawal on a fortnightly, monthly or quarterly basis. Or you can withdraw larger instalments when you need them. And if you want to, you can continue contributing to your KiwiSaver account.
  • Withdraw all of your savings and close your account: you can choose to withdraw all your savings in a single lump sum and close your KiwiSaver account.

Deciding what to do with your KiwiSaver savings is important. We recommend that you seek personalised financial advice from a financial adviser on how to best achieve your investment goals and maximise your savings.

Visit ‘Options when you turn 65’ to find out more.

Question Five: How are fees and taxes charged?

Two types of charges apply to all members of the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme:

  • Membership fee: we charge each member a membership fee of $2 per month for looking after your KiwiSaver account. If you're invested in more than one fund, this fee will be deducted from the fund with the highest balance in your KiwiSaver account. This fee will show on your KiwiSaver account statement.
  • Annual fund charge: a fund charge is charged to each fund per year (calculated as a percentage of the net assets of the fund). The annual fund charge is calculated daily and will reduce a fund's unit price. We deduct the annual fund charge from the funds; you won't see this on your KiwiSaver account statement.

These charges will affect your returns. Select one of the KiwiSaver schemes below to find more information about the fees you’ll pay:

Tax

The ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme are portfolio investment entities (PIEs). This means that the scheme’s taxable income is shared by its members based on the number of units they hold.

We use your prescribed investor rate (PIR) to calculate how much tax to pay on your share of the scheme’s taxable income.

We pay this tax for you from your KiwiSaver account by cancelling units in your KiwiSaver account equal to the value of the tax you need to pay. 

Make sure you're not paying more tax than you need to on your investment. Check your PIR and then update if necessary.

Need more information?

Check out the rest of this website for tips and information to help you make the most of KiwiSaver, including the helpful videos in our ‘Video Gallery’.

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