Making the most of KiwiSaver

Want to make sure your savings are on track for your future? Even if it feels like retirement is a long way off, it's a good idea to spend some time each year checking on your progress, reviewing your investment and making sure you’re getting all the KiwiSaver benefits.

Make your ASB KiwiSaver Scheme account easy to manage

If you're an ASB KiwiSaver Scheme member, FastNet Classic internet banking and the ASB Mobile app make it easy to review your progress and manage your ASB KiwiSaver Scheme account. Get set up and you'll be able to track your savings, make contributions and update your contact details anywhere and anytime.

Be specific about your saving goals

It's a good idea to be specific about your savings goals, whether that is to buy your first home or to save for your retirement, and consider how your Kiwisaver savings can help. Having a clear plan will help you to stay on track over the long term. Use our KiwiSaver calculator to check how your savings are tracking. 

How your KiwiSaver savings can quickly add up

The great thing about KiwiSaver is you can get more than just your contributions. You may also get:

  • Employer contributions.
  • An annual Government contribution.
  • Returns on your investment.

Using KiwiSaver to achieve your savings goals

Choose the right fund

Choosing the right fund is an important part of achieving your savings goals. Use our simple Help Me Choose tool that makes choosing a fund easy.

If you have a longer investment timeframe, you have more time to ride out larger ups and downs in your balance. This is good news because accepting those ups and downs comes with a higher potential return - that could mean more money for you to spend later.

With a shorter timeframe taking less risk becomes more important - while returns are likely to be lower, they will be more stable, giving you less chance of a drop in your balance before you come to make a withdrawal.

You can change your fund using the ASB Mobile Banking App, FastNet Classic internet banking or by downloading the Change your fund form.

Increase your contributions

If you’re currently contributing the 3% minimum, increasing your contribution rate to 4%, 6%, 8% or 10% of your (before tax) wage or salary is an effective way to get to your savings goal faster. Use our KiwiSaver calculator to see the difference increasing your rate might make. You can speak to your employer about increasing your contribution rate.

Make voluntary contributions

Try the 'save a little, often' approach. Even just a small amount could make a difference when you reach retirement. FastNet Classic internet banking enables you to set up an automatic payment or make a lump-sum contribution at any time. You can also make payments using the ASB Mobile app and the online services of other banks (search "ASB KiwiSaver" in 'Bill payments').

Get your tax rate right

Make sure your tax rate is set at the right level. Your Prescribed Investor Rate (PIR) defines the amount of tax you'll pay on your KiwiSaver investment income. If you use a PIR that is too high, you'll be over-paying tax and any refund would need to be provided by Inland Revenue. If it's too low, you may be required to pay the shortfall. Find out more about PIR and if you need to, update it in FastNet Classic internet banking, or by contacting us.

True Rewards transfers

You can use your True Rewards dollars to top up your KiwiSaver savings. With ASB, you can transfer any True Reward dollars you earn into your ASB KiwiSaver Scheme account. You can also use True Rewards dollars to top up someone else's ASB KiwiSaver Scheme account.

Log in to FastNet Classic internet banking and select True Rewards from your list of accounts on the main menu. Then select 'Contribute to the ASB KiwiSaver Scheme' and complete the online application. You'll need your IRD number and ASB KiwiSaver Scheme member number as references.

Other KiwiSaver benefits

Maximising your KiwiSaver benefits every year will grow your KiwiSaver savings faster.

Annual Government contribution

Make sure you get the $521.43 annual Government contribution. All you need to do to get the full amount is to contribute at least $1,042.86 between 1 July and 30 June each year and meet the eligibility criteria. To find out more about this and see if you are eligible, please visit the annual Government contribution page.

Review your KiwiSaver account every year

  • Use FastNet Classic internet banking and the ASB Mobile app to see how your ASB KiwiSaver Scheme savings are tracking.
  • Check our KiwiSaver calculator to see the impact of increasing your contributions and how long your savings could last you in retirement.
  • Revisit our Help me choose tool to check you are still in the right fund.
  • Review your contribution level or consider making a one-off contribution.
  • Make sure your Prescribed Investor Rate (PIR) is correct.
  • Make sure you’ll be eligible for the full annual Government contribution ($521.43) by contributing at least $1,042.86 between 1 July and 30 June each year.
  • Check your email address is up to date.
  • Diary your KiwiSaver account review for next year.

Join or transfer to the ASB KiwiSaver Scheme

Join or transfer

Ready for the next step? Join or transfer and start saving.

Join or transfer

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.

Find a branch

Any questions?

We’ll help with your ASB KiwiSaver Scheme query.

Ask us now

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's terms apply. ASB Rewards Programme Terms and Conditions apply.

ASB KiwiSaver Scheme Making the most of KiwiSaver