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Fisher Funds Answers: What can I use my KiwiSaver for?

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10 September, 2020

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While KiwiSaver was originally set up as a voluntary savings initiative designed to help Kiwis save for their retirement, there are many ways you can make use of your KiwiSaver savings, Sheshan Dimbulane from our Client Services team explains a few options below.

 

Retirement

This is the reason KiwiSaver exists, once you reach the age of 65 you will be able to access your KiwiSaver savings.

But, just because you are able to access your savings, doesn’t mean you have to withdraw it all in one lump sum and there are a number of options available to you. You may still be working and making regular employee contributions or voluntary contributions to your KiwiSaver. You may want to set up a regular withdrawal and use it to supplement your pension throughout your retirement or make lump sum withdrawals for any one-off expenses like cars or holidays.

Our team is here to help you with any decisions or planning, feel free to call us on 0508 347 437 or email us.

Find out more about ways to use your KiwiSaver savings in retirement below.

KiwiSaver for Retirement »

 

First home buyer withdrawal

We love helping Kiwi’s reach their goals, and if your goal is to get on the property ladder using your KiwiSaver savings, we are here to help. You can use your KiwiSaver savings towards the purchase of your first home after you have been a member of KiwiSaver for three years.

If you plan to withdraw for a first home purchase, you will have to leave a minimum balance of $1,000 in your account and you will not be able to use any funds transferred from your Australian superannuation fund. Find out more about eligibility criteria and the application process below.

First Home Buyer Withdrawal »

 

Transferring your Aussie super

If you have worked in Australia since 1992, you will likely have some superannuation funds in Australia. We can help you with the transfer process to bring those funds over the ditch into your KiwiSaver account.

There are a number of reasons why transferring your Aussie super over to your KiwiSaver account might be a good idea; you may benefit from lower fees, you will have the visibility of all your funds in one place, and you will be simplifying your investment strategy. Find out more about the transfer process and how we may be able to help below.

Transferring your Aussie Super »

 

Financial hardship and serious illness

Sometimes life doesn’t go to plan and some curveballs can be thrown your way - the COVID-19 pandemic is a perfect example of this. There are ways you can access your KiwiSaver savings in exceptional circumstances and Fisher Funds are here to help our clients through the process. If you have any questions please do not hesitate to contact us on 0508 347 437 or email us.

Click below to find out more about the criteria for significant financial hardship and illness claims.

Financial hardship and Serious Illness »

 

If you have any questions or would like to talk to someone, please contact us on 0508 347 437 or via email.

For more answers to questions like this as well as insights from our investment team, visit our video library.

Join or transfer — it's easy!

Fisher Funds KiwiSaver » or   Managed Funds »


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