You can access your KiwiSaver savings at the age of 65* if you choose to, however, your KiwiSaver investment journey doesn't have to end once you turn 65. KiwiSaver can be a great way to continue to manage your wealth throughout retirement.
Watch Senior Wealth Management Adviser Aaron Hinks explain more about your KiwiSaver options after 65.
Why keep your money in KiwiSaver?
KiwiSaver offers a range of benefits for managing your money after you’ve turned 65:
It provides diversification – spread your risk by investing across different asset classes like shares and fixed interest
It’s a cost-effective way to invest – compared to other forms of investing
There’s a range of flexible investment options – our team can work with you to get the right investment strategy in place to suit your goals
Access your money when you need it – once you’ve turned 65 your money isn’t locked in – you can make a withdrawal whenever you need it (minimum withdrawal amounts apply)
You can continue to contribute to your KiwiSaver account after you’ve turned 65 – and if you’re still working although your employer isn’t obligated to contribute after 65, some will
Your KiwiSaver options after 65
You have flexible options available for managing your money in retirement so it's worthwhile giving some thought to what might work best for your situation before taking any action. You can:
Keep your savings in your KiwiSaver account
If you don't need your money straight away that's great, you can keep it where it is and we'll continue to manage it for you exactly like we do now. Keeping your money in KiwiSaver can be a great option to help your money last through your retirement.
You can still make contributions to your KiwiSaver investment, either through employee contributions or voluntary contributions, however you'll no longer be eligible for the government contribution and your employer will no longer be obliged to make contributions.
Setup a regular withdrawal**
This is a convenient way to manage your money and supplement your NZ Super and any other retirement income sources. Keeping your money in KiwiSaver could give you a better return than a bank account, so you can continue to do the things you enjoy.
Make lump sum withdrawals at any time**
You don't have to withdraw all of your savings at once – lump sum withdrawals for one-off expenses, like a holiday or home improvements, can be made at any time. This means you can keep the money you don't currently need working hard in your KiwiSaver account.
Withdraw all of your savings
If you do have specific plans for your KiwiSaver savings, you can choose to withdraw your money in one go.
Make a withdrawal
Please note the form requires a statutory declaration which needs to be witnessed by a Justice of the Peace, Solicitor, Notary Public or other person authorised to take a statutory declaration.
You’ll also need to provide certified ID, proof of residential address and proof of bank account with your withdrawal form (unless you’ve already provided this). Please read the document checklist on the final page of the withdrawal form for more information.
Check your investment strategy
As you approach retirement it’s an ideal time to revisit your investment strategy. Completing our or our can help you choose which strategy could be best for you. If you’re still not sure, our friendly team can help you plan an investment strategy to take you through your retirement.
We can help
Whether as a sounding board, providing specific advice or simply someone to talk to, we are here to help. Feel free to call us on 0508 347 437.
*If you joined KiwiSaver (or a complying fund) before 1 July 2019, a 5 year minimum membership requirement applies if you were aged 60 or over when you joined. 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.
**Minimum withdrawal amounts and balances apply
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