KiwiSaver is a work-based savings scheme designed to help you save for your future

In New Zealand, many of us like to live for the present. So, compared to other developed countries, we don't tend to be good savers. Therefore, the KiwiSaver incentives may well be the motivation you need to plan ahead and save for your retirement.

Investing in a KiwiSaver scheme could offer a lot of 'up-side'

Benefits include‡:

• A one-off Government kick-start of $1,000 and a fee subsidy of $40 a year.
• A tax credit to match your savings, up to $20 per week (approximately $1,040 a year).
• Matching contributions from your employer, of 1% from 1 April 2008, increasing to 4% by 2011.
• After three years’ KiwiSaver membership, savers can apply to withdraw their contributions to buy a first home (excluding the kick-start of $1,000 and any tax credits received). After three years’ saving, savers may be eligible for a first-home deposit subsidy from Housing New Zealand Corporation of up to $1,000 for every year of saving, up to $5,000 towards your first home; some conditions apply.
• The option to divert up to half of your member contributions towards paying off your mortgage (mortgage diversion), once you’ve been a member for 12 months.

The nuts and bolts of KiwiSaver

Here’s how it works:
• Employees choose to make KiwiSaver contributions of either 4% or 8% of their gross salary/wages.
• Contributions are generally ‘locked in’ until you reach the age of entitlement for New Zealand Superannuation (currently 65) or until you have been a member of a KiwiSaver scheme for at least five years, whichever is the later.
• Early withdrawals are allowed in special circumstances, for example: purchasing a first home, significant financial hardship, serious illness and permanent emigration‡.
• Once you have been investing in a KiwiSaver scheme for 12 months, you can take a ‘contributions holiday’, that is, stop making payments to your KiwiSaver scheme for a period of time.



ING’s KiwiSaver schemes are a simple yet effective way to save for your retirement


The SIL KiwiSaver Scheme, an ING KiwiSaver offering, provides you with 12 funds to choose from. You can make an active decision about where your money is invested, which will often be determined by how much risk you are prepared to take, as the graph below demonstrates. Or you can simplify your investment decision process by selecting our Lifetimes option. The process that is best for you will depend on your particular situation, stage of life and financial goals.






A kick-start for kids


KiwiSaver is a great way to initiate savings habits for those under the age of 18 years, and regular investments can generally be made to suit individual circumstances. If the child becomes an employee, contributions will then start to be deducted from their salary or wages. Once the individual turns 18 years of age, other KiwiSaver benefits may apply such as mortgage diversion and first-home buyer subsidy.
The Government will kick-start your child’s first KiwiSaver account with a tax-free contribution of $1,000 and will pay the Government fee subsidy of $20 into the KiwiSaver account twice a year (a total of $40 per year) to help off-set the cost of the fees charged by the scheme provider.


So, you’re not earning a wage or salary


You may be self-employed or not currently earning an income - for example, you may be a stay-at-home parent. KiwiSaver is an excellent option for saving for your retirement, with benefits such as: the $1,000 kick-start from the Government; the $40 fee subsidy each year; and a member tax credit to match your contributions to the Scheme of up to $1,040 paid into your KiwiSaver scheme each year. Because you don’t have an employer, you will not be automatically enrolled in a KiwiSaver scheme. Therefore, if you would like to invest in KiwiSaver, you can join directly with ING through a solution such as the SIL KiwiSaver Scheme.


Transferring your KiwiSaver to ING


You can easily transfer from your existing KiwiSaver scheme provider to an ING KiwiSaver solution. Your entire account needs to be transferred, as you can only belong to one KiwiSaver scheme at a time. Simply fill out the application form in the SIL KiwiSaver Scheme Investment Statement and send it back to us at ING. We will then arrange for the transfer of your funds to be made to your new SIL KiwiSaver Scheme.


Our SIL KiwiSaver Scheme pack contains more detailed information about all the investment options available to you. Order a SIL KiwiSaver Scheme information pack.


Lifetimes option


The Lifetimes option adjusts your levels of growth and income assets based on your specific length of time to retirement. By investing in the Lifetimes option, you will automatically transition through the various multi-sector funds when you reach certain age milestones.






SIL KiwiSaver Scheme Multi-sector Funds


Our five multi-sector funds (funds investing in a mix of asset types) range from a Conservative option (lower risk/lower return) to a Growth option (higher risk/higher return). You can select where your money is invested, which will often be determined by how much risk you are prepared to take. This will also have a bearing on your potential return.


SIL KiwiSaver Scheme Single-sector Funds


You also have the option of choosing from our seven single-sector funds. As the name suggests, each fund invests in just one sector, e.g. cash, fixed interest, property or shares, here or overseas.


For further details of our SIL KiwiSaver Scheme, download the Investment Statement. Or alternatively, order a copy of the SIL KiwiSaver Scheme information pack. You can also call us on 0800 108 685.


Click here to download the SIL Sustainable Growth Fund Responsible Investment Policy


If you’re not sure which investment fund is right for you, talk to your financial adviser.



‡ Certain eligibility criteria apply

The information contained on this website is general in nature and does not constitute financial advice. It may not be relevant to individual circumstances. Before making any investment decisions, you should consult a professional adviser. ING (NZ) Limited (INGNZ) is the administration and investment manager and promoter of the SIL KiwiSaver Scheme and the ING KiwiSaver Superannuation Scheme (the Schemes). The trustee and issuer of the SIL KiwiSaver Scheme is Superannuation Investments Limited (SIL) and the trustee and issuer of the ING KiwiSaver Superannuation Scheme is The New Zealand Guardian Trust Company Limited (NZGT). None of INGNZ, SIL, NZGT, any of their related companies, their directors, the Crown or any other person guarantees the Schemes, any investment in the Schemes, or any returns on an investment in the Schemes. For further information about the SIL KiwiSaver Scheme, please refer to the SIL KiwiSaver Scheme Investment Statement or call toll free on 0800 108 685 for a copy of the prospectus. For further information about the ING KiwiSaver Superannuation Scheme, please refer to the ING KiwiSaver Superannuation Scheme Investment Statement or call toll free on 0800 108 685.