KiwiSaver is a voluntary retirement savings plan set up by the NZ Government to help New Zealanders save for their retirement. We recommend KiwiSaver as a great foundation for retirement planning.
The Government has provided New Zealanders with some generous financial assistance. Some of the key features are:
- The government will match your annual contributions with a tax credit of up to $10 per week.
- Minimum contribution of 3% of salary if you are on PAYE (no minimums if you are self-employed, not working or a child).
- Your employer has to match your contributions of 3% of salary.
- First home withdrawal facility
- First home deposit subsidy.
The Inland Revenue website has a section on KiwiSaver:
Housing New Zealand administers the deposit subsidy on behalf of the Government. Here is the link to their website:
Please contact us to find out more about joining KiwiSaver.
At its simplest, good investment decisions are about getting the best return for the lowest risk.
However, the starting point for any investment decision is being clear about the goal. Whether it is to save to buy a home or create a retirement nest egg, this will be a key driver for what options will be suitable.
People want to create and manage wealth for many different purposes, such as:
- Generating an income
- Growing capital
- Saving for a specific goal
- To have a secure retirement
Here are some useful websites:
This is the website set up by the Commission for Financial Literacy and Retirement Income:
This website provides general financial information including interest rates and financial goal calculators: