KiwiSaver

KiwiCheck

So you’ve got your KiwiSaver account and can probably also see your balance on your phone. Great. But do you know which fund you’re in or your PIR rate?

For most people, KiwiSaver will become one of their largest assets. For a lot of people, unfortunately, they also see KiwiSaver as a set-and-forget type of deal. This is far from the truth. In fact, it’s vital that your KiwiSaver account is checked regularly, to ensure that you’re in the right fund for you.  That is different for everybody. 

Some people are missing out, without even know what they are missing! For example, the conservative funds have averaged 6.6% for the past five years, versus the growth fund, which has returned 9.5% for the same period. The result could cost some investors thousands annually, in lost growth.

We’ve seen enough KiwiSaver accounts to know that people need good advice … and fast! Enter KiwiCheck. WealthDesign has developed a service that monitors people’s KiwiSaver accounts. The service is completely impartial and is about providing advice independent of the various KiwiSaver managers.

KiwiCheck keeps your KiwiSaver account growing effectively for you.

We make sure you’re in the right fund for your life stage, with the right manager, based on their performance (using independent research).

We check your KiwiSaver manager has received your contributions, from both you and your employer. You’d be surprised how many millions of dollars of contributions that aren’t tucked safely away in the KiwiSaver fund, where the client expects it to be.

We ensure you’re entitled to the government’s annual tax credit too, along with making sure you’re not paying too much tax for your situation.

Peace of mind is what KiwiCheck is all about, and it’s having a huge impact on our clients’ KiwiSaver account balances.  Be a prudent investor and call us now to manage your KiwiSaver account with KiwiCheck.

Joining KiwiSaver

Retirement may be some time off for you, or perhaps approaching faster than you expected – either way if you were to ask yourself ‘what lifestyle do I want upon retirement?’ you might find living off the national superannuation alone doesn’t match your desires.

KiwiSaver is a government created retirement scheme designed to get Kiwis thinking about and saving for their future. For many it is work based with contributions deducted from your pay at 3%, 4% or 8%. With employer and government (including a $1000 kickstart and annual tax credit) contributions KiwiSaver is a sound decision for most Kiwis, not just those working, but also unemployed, self-employed, and those already saving, or near retirement too.

Managed in the right way it can make a big difference to your retirement years, and even before with possible early withdrawals in the time of ill health, or purchasing of your first home.

The range of providers and schemes available for KiwiSaver may seem daunting. At WealthDesign we make the complicated easy. The government does not guarantee KiwiSaver; this means your investment choices need to be considered choices. We will walk you through the options, evaluate your risk comfort zone and your future plans, and help you find a KiwiSaver plan that works for you.

KiwiSaver

Accessing your funds

If you've been a KiwiSaver member for five years or more, you can access your entire KiwiSaver savings as a lump sum upon retirement and the New Zealand superannuation age of 65.

While designed as a retirement savings plan, you can make an early tax free withdrawal if you’re buying your first home, moving overseas permanently, suffering significant hardship, or become seriously ill.  

Leaving KiwiSaver

Once you’ve joined KiwiSaver you can’t opt out, other than of course reaching retirement age. However, you can stop contributing after 12 months, you can switch schemes and providers at anytime, and you can leave if you emigrate, suffer significant hardship, or become seriously ill.