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.
Get set up and you’ll be able to track your savings, make contributions and update your contact details anywhere and anytime.
It’s a good idea to be specific about what kind of retirement you want, how much you can afford to save, and what you need your KiwiSaver savings to achieve.
Having a clear plan of how you’d like to enjoy retirement will help you to stay on track over the long term. Use our KiwiSaver calculator to check how your savings are tracking and how long they might last in retirement.
The great thing about KiwiSaver is you can get more than just your contributions. You may also get:
It’s important to choose a fund that matches the type of investor you are. Do you want a fund with less ups and downs that offers lower potential growth; or are you comfortable accepting higher risk with the potential for higher growth?
To find out what sort of investor you might be, use our Help me choose tool to work out which fund might fit you best. Remember to review your fund choice regularly - especially if your circumstances change.
If you’re currently contributing the 3% minimum, increasing your contribution rate to 4% or 8% 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.
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').
Paying too much tax won’t help you to reach your retirement savings goal, so it’s important to get your Prescribed Investor Rate (PIR) right. Your PIR defines the amount of tax you’ll pay on your KiwiSaver investment income – if it’s too high, you’ll be paying tax you won’t be able to claim back; if it’s too low, you’ll need to file a tax return and pay the outstanding amount.
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 'Spend rewards' next to your True Rewards Dollars balance. In the True Rewards online store, select ASB KiwiSaver Scheme from the left hand menu. You'll need your IRD number and ASB KiwiSaver Scheme member number as references.
Make sure you get the $521.43 annual Government contribution (also known as member tax credits). 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.
Usually, you’ll be able to receive the annual Government contribution from the age of 18 up until you’re eligible to make a KiwiSaver retirement withdrawal - as long as you make contributions and live mainly in New Zealand.
If you join KiwiSaver, turn 18 or become eligible for retirement withdrawals part way through the year, you’ll get an annual Government contribution proportional to the time you’ve been eligible.
Ready for the next step? Apply online and start saving.
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.business.govt.nz/disclose (search for ASB KiwiSaver Scheme).