it can go up and down in value, so you can lose money. That said, particularly because of all the money going into the fund from you, your employer and the government, it would be very difficult to lose all your money in Kiwi Saver. It's designed to keep growing
How does Kiwi Saver Work?
Kiwi Saver is a voluntary savings scheme set up by the government to help New Zealanders to save for their retirement. You can choose to contribute 3%, 4%, 6%, 8% or 10% of your gross (before tax) wage or salary to our Kiwis saver account. … Your savings are invested on your behalf by the Kiwi Saver provider of your choice.
What Happens if you retire
Many Kiwi Saver providers will let you remain in their Kiwi Saver Scheme and continue to manage your money for you even if you are eligible to withdraw – so although you won't receive any member tax credits, you can continue to save. … You may also be able to consolidate any other retirement savings into the same account.
Time Frame to their retirement
You can access your Kiwi Saver savings at the age of 65. Once you’ve reached the age of 65 you can opt out of this requirement and make a partial or full withdrawal, however if you do so you will forego your entitlement to the Government contribution and compulsory employer contributions.
How much Money to invest
When you join Kiwi Saver, you either pick a fund you want to invest in, or if you can't decide, the IRD picks one for you. After that, your employer must contribute the value of 3% of your gross salary into your Kiwi Saver fund. You will also have to contribute at least 3% of the gross amount.
Key Takeaways. The average fee for a financial advisor's services is 1.02% of assets under management (AUM) annually for an account of $1 million. An actively-managed portfolio usually involves a team of investment professionals buying and selling holdings–leading to higher fees.
