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Your KiwiSaver account is an investment account. You save money into your account on a regular basis through contributions. You can choose the type of investment fund that your money gets invested in, such as a Conservative, Balanced or Growth fund.
Over time, the value of your money will increase. Regular contributions from you, plus investment returns, will continue to build your nest egg. The sooner you start contributing to your KiwiSaver account, the quicker you'll start to build up some serious savings. Every little bit makes a difference.
When you reach retirement age, you can access your KiwiSaver savings. But, sometimes life has other plans. So, you can withdraw some or all of your money early in certain circumstances: if you want to use your savings as a deposit for your first home, or if you are facing significant financial hardship or serious illness.
Once you start paying into your KiwiSaver account, you'll start to see your balance growing. If you're in paid employment, your employer contributes as well*. Contribute a minimum amount each year, and you'll also get a government contribution!
That's it. Easy as.
The earlier you can start saving for your retirement, the better. You'll be in a much stronger financial position if you contribute regular amounts for longer, even if it's just a small amount each time.
Over time, your KiwiSaver money makes money. It starts to grow. That money stays invested, and the money that it makes is invested again... over and over again... and you don't have to do anything except keep contributing.
The longer your money stays invested, the harder your money works for you!