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Making the most of KiwiSaver savings at retirement

A little planning can go a long way towards a comfortable future. If you’re close to 65, now is a good time to consider how your investment could work for you once you’re retired.

Is your KiwiSaver account working as hard as you?

We can help get your KiwiSaver ducks in a row

Whatever your plans, when it comes to saving for retirement, we can show you how small changes now, can make a big difference later. Talk to our KiwiSaver specialists today to see how we can get you one step ahead.

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Our KiwiSaver tools could help you get off the tools faster

Try our calculator to see what your KiwiSaver savings could look like at retirement. Your fund choice and your contributions could have a big impact on your future balance.

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We make tracking your KiwiSaver savings easy

Use the new features in our app to see how you’re tracking towards your goals. Make easy changes to help grow your savings and turn your retirement goals into reality.

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01

How much money will you need for retirement?

While they say money can’t buy happiness, it can provide the security and freedom to do the things you’d like in retirement.

Working out how much money you’ll need is important, because NZ Superannuation (if you’re eligible) is unlikely to be enough to maintain your current lifestyle.

Use our KiwiSaver calculator to see how long your KiwiSaver savings may last you in retirement.

02

You can keep saving with KiwiSaver

Make sure your KiwiSaver keeps working for you

 

Did you know you don’t have to withdraw any of your KiwiSaver savings simply because you become eligible to do so? Continuing to invest may have real advantages for you, because the ASB KiwiSaver Scheme will continue to offer you:

  • Low-cost access to a range of professionally managed diversified funds.
  • The potential to earn a greater return than the interest traditionally received on a savings account or term deposit.
  • A regular withdrawal facility that gives you access to cash while you’re investing. You can withdraw a minimum of $100 fortnightly, monthly or quarterly.

You’ll need to keep a minimum $2,000 balance in your ASB KiwiSaver Scheme account to use this facility.

 

03

Check you're in the right fund

When you’re nearing retirement, you may be considering your KiwiSaver options. One key decision to make is to ensure you’re still invested in the right fund. Use our simple Help Me Choose tool that makes selecting a fund easy.

04

Saving with KiwiSaver in retirement

If you want to continue making ASB KiwiSaver Scheme contributions, you can do so by making:

If you’re still working you can keep making regular contributions from your wages. If you want to stop making regular contributions, you’ll need to complete a non-deduction notice and give it to your employer.

What changes?

Once you’re eligible to make a KiwiSaver retirement withdrawal, your employer no longer needs to make employer contributions. However, it’s worth asking if they’ll continue as many employers have chosen to do so.

Please note, you won’t qualify for the annual Government contribution (member tax credits).

05

Withdrawing your KiwiSaver savings at retirement

If you’ve decided you’d like to access your ASB KiwiSaver Scheme savings, there are a few ways you can do this. Check out our guide on withdrawing your KiwiSaver savings  to find out the way that will work best for you and your situation.

Apply for the ASB KiwiSaver Scheme

Apply online

Ready for the next step? Apply online and start saving.

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Call us

Speak to a KiwiSaver specialist. 

0800 ASB RETIRE (0800 272 738)

Visit a branch

Visit us at one of our many branches across New Zealand.

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Any questions?

We’ll help with your ASB KiwiSaver Scheme query.

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Is your retirement planning on track?

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Other helpful guides

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Making the most of KiwiSaver savings at retirement