From start to finish, we’ll help you through the entire journey to finding your perfect KiwiSaver scheme. All you need to do to use our KiwiSaver comparison tool, is to choose what fund type best suits your needs and we’ll show you the best results based on that, so that you can make an informed decision.
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The process of comparing KiwiSaver schemes is made simple with CompareBear. It’s extremely easy to use and you’ll be able to find the right KiwiSaver scheme and fund for you in just a matter of minutes. Stop spending hours searching through different websites to find the right KiwiSaver scheme, and instead compare with CompareBear.
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Start saving for the future. Whether you’re saving up for a first home, or for your retirement, you can maximise the return you get on your KiwiSaver investment by comparing KiwiSaver schemes with CompareBear. Our comparison tool is also 100% free to use, so make the most of it!
Types of plans
1. Cash
The Cash Plans is the most conservative plans that you’ll be able to invest in. Its income allocation is 100% cash, meaning there’s little to no risk with this fund. While this may sound good on the surface, bear in mind that this also means there is less potential for higher returns. This plan is suited for KiwiSaver members who are near their retirement or near the point of buying their first home so that there is a smaller chance of them experiencing a big drop in their investment right before they’re wanting to withdraw the funds.
2. Conservative
Conservative Plans are suited to people who have less of an appetite for risk, but still bears more risk than the Cash Plan. The Conservative Plan holds 10% to 34.9% in growth assets and it aims to provide a safe investment with little growth. If you’re enrolled in KiwiSaver with a default provider, you’ll automatically be put in this plan.
3. Balanced
Known as the “middle of the road plan,” this plan aims to strike a balance between growth and income assets and as to take on a medium amount of risk with the prospect of average potential returns. These plans are suited to KiwiSaver members who are willing to experience a few ups and downs with their investment from time to time for a greater long term return.
4. Growth
Growth Plans hold a larger proportion of growth assets as they’re considered an “aggressive” plan. When you invest in these plans, you’ll generally have higher potential returns but you’ll also take on more risk - meaning you can expect plenty of ups and downs in your investment. These plans are best suited to members who are still young and have plenty more years before they wish to withdraw their KiwiSaver plans.
5. Aggressive
The KiwiSaver Aggressive Plan is the most aggressive plan available for members. Because it holds a large proportion of growth assets (at least 90%), this plan has the highest potential returns, but it also carries the highest risk along with that. This plan is best for thrill seekers, with an extremely high risk appetite, who are fine with experiencing many ups and downs. The Aggressive Plan is usually used for a long term investment rather than short, due to how volatile it can be.
Frequently Asked Questions
If you’re a KiwiSaver member and you’re an employee working somewhere in New Zealand, your KiwiSaver account will receive three types
of contributions being your own contribution, your employer’s contribution and a government contribution. The default rate for your
own contributions out of your salary/wages is 3%, but you can choose to contribute 4%, 6%, 8% or 10%. Your employer also has to contribute
at least 3% of your gross pay. The government will also contribute 50c for every $1 you contribute, up to a maximum payment of $521.43.
Most KiwiSaver providers will allow you to withdraw your KiwiSaver savings for purchasing a first home and for members’ retirement.
You may also be able to withdraw some of your KiwiSaver savings if you meet the requirements for significant financial hardship.
You can also withdraw if you attain a serious injury or illness that could affect your ability to work and lastly, if you have moved
overseas for over a year.
In a nutshell, your KiwiSaver savings are a combination of member contributions, employer contributions and government contributions.
These contributions are invested in a plan of your choice from a provider that you will choose. These plans will give you positive returns
or negative returns depending on which one you have chosen and you will have to pay fees which are dependent on the provider. You are generally
able to withdraw your KiwiSaver plans to fund your first home and for your retirement.
You may only be able to opt out of your KiwiSaver scheme depending on what stage you are at in the system. There is a very limited time
frame to opt out using a KiwiSaver opt out form, as if you’ve been automatically enrolled in a KiwiSaver scheme, you can only opt out after
2 weeks of being in your job and before 8 weeks. After the 8 week mark, you can apply for a late opt out or an early contributions holiday.
Once you’ve been a KiwiSaver member for 12 months or more, you may be able to apply for a savings suspension, which is formerly known as the
KiwiSaver contributions holiday. This can be provided for people that want to take a break from investing into your KiwiSaver account from your
own salary/wages. This period can last between 3 months and a year, and you don’t need to provide a reason to get it.
The KiwiSaver HomeStart grant is a grant awarded to KiwiSaver members to help fund the purchase of a first home. You are only eligible for this
HomeStart grant if:
- You’ve been contributing the minimum amount to your KiwiSaver for 3 years.
- You’re 18 or older, if you’re purchasing or building a first home.
- If you meet the household income requirement.
- Have a 10% deposit of the purchase price.
- You are planning to live in the house for at least 6 months from the settlement of the property.
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