There's a lot happening in the world right now but it's still important to keep track of how your KiwiSaver account is going.
As life changes, your approach to your KiwiSaver account may need to be adjusted too – or maybe you want some reassurance you're on the right track to meet your retirement goals.
The BNZ KiwiSaver Scheme offers award-winning value with its strong returns, low fees, and excellent customer service. We can help you build for a better future.
It's a good idea to review how your KiwiSaver Scheme provider's funds have been performing. Some things to look out for are:
- membership fees and management fees
- how your provider's funds are set up to handle the ups and downs that come with investing
- what your provider invests in and whether this aligns with your personal views
The impact of Covid-19 is affecting returns across all KiwiSaver scheme funds and investments in general. However, our expertise, people and proven approach are helping our customers weather the storm.
Some people mistakenly believe that to get higher returns you need to pay higher fees. We know that's not true. The BNZ KiwiSaver Scheme funds have some of the lowest fees in the market and our performance has been strong compared to other providers. We have no monthly member fee and low percentage-based management fees. We're honoured to have won the 2019 Canstar Outstanding Value – KiwiSaver Scheme Provider award for our KiwiSaver Scheme.
We're also proud our scheme is committed to a responsible investment policy that excludes companies involved in the production of cluster munitions, anti-personnel mines, nuclear weapons, and tobacco or tobacco products. We've also recently excluded some oil and gas companies, some companies that extract thermal coal – and stated that we won't invest in businesses that are involved in whaling. Learn more about our approach to responsible investing.
Are you getting $521 from the Government?
We know, with the impact of Covid-19, this year might be financially difficult for some. If you can afford it, it makes sense to get as much of the Government's contribution as you can by putting a little more into your KiwiSaver account if required.
The Government contributes $0.50 for every $1 you contribute to your KiwiSaver account to a maximum of $521.43. So, if you're in a position to contribute at least $1,042.86 during the year (1 July to 30 June), and you're eligible for the full year, you'll receive the full amount. Find out more about how the government contribution works.
The right fund can change for you over time
Which KiwiSaver fund is right for you can change depending on where you're at in life – you may be nearing retirement or maybe you're looking to buy your first home. When your circumstances change, your fund choice could too. Use our tool to check if the fund you're in is still right for you.
To find out more about KiwiSaver, and the BNZ KiwiSaver Scheme, in the current environment, BNZ's General Manager of Wealth, Peter Forster, answers the most frequently asked questions we've received in response to Covid-19.
If you're interested in the BNZ KiwiSaver Scheme it's easy to join or transfer online.
