What happens if I’m automatically enrolled in the ASB KiwiSaver Scheme?
If you did not choose a KiwiSaver scheme, you may have been enrolled in the ASB KiwiSaver Scheme because it is your employer’s chosen scheme. This can happen when you start a new job or ask your employer to sign you up to KiwiSaver.
Which fund you’ll be enrolled in
If you were automatically enrolled in the ASB KiwiSaver Scheme by your employer and your ASB account was created prior to 21 July 2026, your account was invested in the Conservative Fund.
From 21 July 2026, new ASB KiwiSaver Scheme employer enrolled member accounts are invested in the Balanced Fund.
Your employer should have given you an ASB KiwiSaver Scheme Product Disclosure Statement, which explains key information about the scheme.
What happens next
You should receive a welcome letter from ASB. Read it carefully and complete the Additional Information form. This form collects important details such as your chosen fund and Prescribed Investor Rate (PIR).
Your PIR is the rate used to calculate tax on your share of the taxable income earned by the fund.
Choosing your fund
It’s important to choose a fund that is right for you and your circumstances. You can choose or change your fund at any time in FastNet Classic internet banking. To help choose a fund, log in to FastNet Classic or the ASB Mobile Banking app and use our KiwiSaver calculator and advice tool. It shows how changes to your fund choice and contributions could affect your first home or retirement savings.
Need more help?
If you do not have access to FastNet Classic or have questions, call us on 0800 ASB RETIRE (0800 272 738).
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