3 ways to make the most of your KiwiSaver


As we continue to follow official guidance to help combat Covid-19, you might find you have a bit more time on your hands, or maybe you just need a bit of a distraction.

Read on for three quick and easy ways to help make your KiwiSaver work even harder.

Are you in the right fund?


KiwiSaver members can choose which type of fund or funds they invest in. Some are considered higher risk, but often deliver higher returns over the long term. Others are considered lower risk, but generally deliver less volatile returns. Fund choice can make a big difference to your KiwiSaver balance at retirement.

For example, if you were 45 years of age, earnt $50,000 a year and invested $20,000 in a KiwiSaver Scheme, by age 65 your balance would have grown to $96,000 in a conservative fund, $108,000 in a balanced fund and $121,000 in a growth fund.¹

If you are a member of the AMP KiwiSaver Scheme you can change funds easily using our MyAMP app or you can click here to learn more about available funds. It’s always a good idea to ask for help before making decisions about changing funds, so please get in touch to discuss.

You can also use our MyAMP app to check your projected weekly KiwiSaver income at retirement, which shows how simple changes to investment decisions, including fund choice, can help to build your retirement savings.

Get your government contributions


One of the great benefits of being in KiwiSaver is that your employer generally must contribute at least 3 per cent of your gross earnings to your KiwiSaver account on top of your regular pay.

In addition, if you are eligible, each year the Government will contribute 50 cents for every dollar you put into your KiwiSaver account up to a maximum of $1,042.86.

This means that if you contribute $1,042.86 to your KiwiSaver between 1 July and 30 June, the government will contribute $521.43 to your account.

While most KiwiSaver members who are actively contributing will reach this threshold throughout the year, you can also make a one-off contribution through a payment to Inland Revenue or your scheme provider, to ensure you are entitled to the maximum government contribution.

A plan you can stick to


In order to get where you want to go, you need to define your destination – and that’s why it’s important to have a plan you can stick to.

While budgets often get a bad rap, but it’s a good place to start to help give you visibility of your spending and to ensure you’ve got the important stuff covered.

We've made it even easier for our members to manage their money life. Check out our free budgeting tool BetterMoney, which offers you a safe and secure way to get a clear picture of your finances.

We're here to help

We have a team of experienced and committed people who can support you and help you to achieve your long-term goals - please get in touch.

Important information

1. These figures are calculated using the AMP KiwiSaver Calculator. The AMP KiwiSaver Calculator takes into account a number of assumptions, including a current balance of $20,000, a starting age of 45 and a retirement age of 65, a salary of $50,000, a 3% personal contribution and a 3% employer contribution. For full details about the assumptions we have made in making these calculations, click here. These projection figures do not reflect actual returns and are not predictions of future returns. All forms of investment involve risk. None of AMP, The New Zealand Guardian Trust Company Limited or any other person or entity guarantees the performance of or any investment in the AMP KiwiSaver Scheme and New Zealand Retirement Trust (including the returns on the investment). Past performance is not indicative of future performance. Returns over different periods may differ.
While care has been taken to ensure the information in this communication is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way, including from any error or omission.
The information included in this communication is of a general nature and does not constitute financial or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your circumstances. For financial advice, we recommend you contact your Adviser. IF you don’t have an Adviser, contact us on 0800 267 5494.
This communication provides information about MyAMP, a service available to members of the AMP KiwiSaver Scheme and of the New Zealand Retirement Trust. The MyAMP registration process is based on the membership information we have in our records. If any of this information has changed or is incorrect, please notify us at the email address shown above before you register for MyAMP.
While you contribute to your KiwiSaver account, you may be eligible to receive an annual Government contribution. To be eligible, you must be aged between 18 and your qualifying date, and will need to reside mainly in New Zealand, unless you are a Government employee living overseas or are volunteering (or working for token payment) for specified charitable organisations.
If you joined KiwiSaver before 1 July 2019, your qualifying date will be the later of age 65 or five years after you first joined KiwiSaver or a complying superannuation fund (if applicable). If you joined KiwiSaver on or after 1 July 2019, your qualifying date will be age 65.
Note that if you joined KiwiSaver before 1 July 2019 and your qualifying date is linked to a five year period (described above), you can choose to withdraw your savings from the age of 65 but keep in mind that you will lose eligibility to receive the Government contribution and employer contributions. If you decide not to withdraw your savings, you are eligible to receive the Government contribution and employer contributions until you have reached the end of the five year period.
The Government contribution is calculated each year based on your contributions from 1 July to 30 June. If you don’t meet the eligibility requirements for the full year, the Government contribution amount will be based on the number of days in the year you were eligible. This may mean you might not receive the maximum $521.43.
Your use of BetterMoney is governed by our terms of use, and any personal information you share with us will be handled in accordance with our privacy policy. We work with Yodlee, the industry leader in account aggregation services, to provide BetterMoney to you. Details on Yodlee’s practices for data security, regulatory compliance, and privacy can be found here.
AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme and New Zealand Retirement Trust.
For a copy of the AMP KiwiSaver Scheme and New Zealand Retirement Trust Product Disclosure Statement and Fund Update Booklet, please visit amp.co.nz or contact Customer Services on 0800 267 005.