{"id":417,"date":"2019-04-03T22:27:08","date_gmt":"2019-04-03T22:27:08","guid":{"rendered":"https:\/\/nestegginvestments.co.nz\/?p=417"},"modified":"2020-11-17T03:42:20","modified_gmt":"2020-11-17T03:42:20","slug":"kiwisaver-update","status":"publish","type":"post","link":"https:\/\/nestegginvestments.co.nz\/index.php\/2019\/04\/03\/kiwisaver-update\/","title":{"rendered":"KiwiSaver Update"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"250\" src=\"https:\/\/nestegginvestments.co.nz\/wp-content\/uploads\/2019\/04\/kiwisaver.png\" alt=\"\" class=\"wp-image-419\" srcset=\"https:\/\/nestegginvestments.co.nz\/wp-content\/uploads\/2019\/04\/kiwisaver.png 450w, https:\/\/nestegginvestments.co.nz\/wp-content\/uploads\/2019\/04\/kiwisaver-300x167.png 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/figure>\n\n\n\n<p>KiwiSaver,\nwhich began in 2007, is undoubtedly a NZ retirement success story, having grown\nto around $50 billion invested in the 12 years since its inception.<\/p>\n\n\n\n<p>There are many\naspects of KiwiSaver which make it a no-brainer for most people, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>deductions\nthat happen automatically (before you have a chance to miss the money)<\/li><li>the\npayment from the Government each year (free money)<\/li><li>matching\nemployer contributions up to 3% (free money)<\/li><li>a\ngood range of different KiwiSaver providers and different investment approaches\n(choice)<\/li><li>the\nability to use your KiwiSaver to fund a first house purchase or for financial\nhardship (flexibility)<\/li><\/ul>\n\n\n\n<p>There are\nalso several changes that came into effect on 1 April this year which are worth\nnoting:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>a\nbroader set of contribution rate options, now 3%, 4%, 6%, 8% or 10%, although\nnote that most employers will still only match your contribution up to 3%<\/li><li>a\nbreak from contributing to KiwiSaver is now called a Savings Suspension, not a\nContribution Holiday (which sounded too positive!)<\/li><li>the\npayment from the Government is now called a Government Contribution, not a\nMember Tax Credit<\/li><li>People\nover the age of 65 can join KiwiSaver (from 1 July), and there is no lock in\nperiod before they can make withdrawals.<\/li><\/ul>\n\n\n\n<p>The last\npoint is significant as it will open the door to some KiwiSaver products which\nare great for over 65s, but to date have been inaccessible if the person wasn\u2019t\nalready a KiwiSaver member.&nbsp; For example,\nthe <a href=\"https:\/\/simplicity.kiwi\/our-funds\/\">Guaranteed Income KiwiSaver\nFund<\/a> offered by Simplicity, which provides an ongoing annuity payment, and\nis a good way to generate a regular income stream from your retirement savings.<\/p>\n\n\n\n<p>Dean\nEdwards<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KiwiSaver, which began in 2007, is undoubtedly a NZ retirement success story, having grown to around $50 billion invested in the 12 years since its inception. There are many aspects of KiwiSaver which make it a no-brainer for most people,&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-417","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/posts\/417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/comments?post=417"}],"version-history":[{"count":2,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/posts\/417\/revisions"}],"predecessor-version":[{"id":420,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/posts\/417\/revisions\/420"}],"wp:attachment":[{"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/media?parent=417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/categories?post=417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nestegginvestments.co.nz\/index.php\/wp-json\/wp\/v2\/tags?post=417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}