KiwiSaver

Take control of your KiwiSaver in 2023

2 MIN READ February 9, 2023
If one of your goals this year is to get your finances sorted, make sure you’re including KiwiSaver. If you’ve already joined KiwiSaver, that’s a great start! If you haven’t, or you just want to know how to make the most of it, here are…

Take a look at what fund you’re in

If you were automatically enrolled in KiwiSaver through your employer and never actively chose which fund to be in, it’s likely you’re in a default scheme which is more conservative and might not grow as much as you’d like come retirement.

There are a few different types of funds available, so you’ll need to do a bit of research and figure out how much risk you’re willing to take and how long your money will be in that fund (i.e. if you’re likely to be withdrawing some of your KiwiSaver for a first home soon, you might want to be in a lower risk fund).

Check out your contributions

If you’re enrolled in KiwiSaver, you’ll be contributing 3%, 4%, 6%, 8%, or 10% from your salary. If you began at the lower end of the scale but have since received a pay rise, you could look at contributing more to boost your KiwiSaver. Even increasing a 3% contribution to 4% might make a healthy difference to your balance over the long run.
If you’d like to see how much more you can add to your KiwiSaver by increasing your contribution rate, check out our handy calculator.

What fees are you paying?

Because KiwiSaver is an investment, KiwiSaver providers charge different fees for managing your account. If you’re getting great returns you might be happy to pay more in fees, but it’s a good idea to check out what fees you’re paying because there may be a better option out there for you.

If you’re not sure what fees you’re paying, Sorted has a great tool called Fund Finder to help you compare.


Share this article

Talk to us today

0800 700 699

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Are you ready to get started?

Fill out your details below and someone from our friendly team will be in touch soon.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.