So you’re thinking about joining KiwiSaver, but want to know a little more first?
Why not think about joining the AMP KiwiSaver Scheme, which is currently helping over 225,000 Kiwis save for their retirement, and is looking after $5 billion worth of savings.
The AMP KiwiSaver Scheme might suit you if you’re…
- looking for flexible options for your savings
- wanting to invest in an award winning scheme
- after financial security with a company that’s been helping Kiwis for over 160 years.
Here’s what you get:
- Easy online access to monitor your savings.
- The ability to keep investing your savings through your own fund choices or our Lifesteps scheme when you retire.
- Access to New Zealand’s largest Adviser network.
Map out your first home or retirement adventure
Whether you're on a journey for your first home or retirement, we have a calculator to help you choose the right path.
How much does it cost?Show more
To be a part of the AMP KiwiSaver Scheme there are a few associated costs, which include:
- a member fee of $1.95 per month
- an administration fee and annual management fees (these vary depending on the fund you choose to invest in)
Need help choosing a fund?
It’s important that you choose the fund or funds that are right for you. This will depend on what your goals are for your savings, how comfortable you are with taking risks, and what stage of life you’re at.
How much do you need to contribute?Show more
KiwiSaver is designed to be flexible around the way and the amount you contribute, so whether you’re in a permanent job, freelancing, running your own business, or not working at all, there’ll be an option to suit the way you want to save.
You can contribute to the AMP KiwiSaver Scheme via:
- deductions from PAYE payments through your employer – at a rate of either 3%, 4%, 6%, 8% or 10% of your gross salary or wages
- regular contributions via direct debit- at a minimum of $50 per payment
- lump-sum contributions direct to AMP or via Inland Revenue- can be made at any time, but each contribution must be for at least $50.
Find out more about contributing to the AMP KiwiSaver Scheme.
When can you withdraw your savings?Show more
While KiwiSaver is designed to help you save for your retirement, it’s flexible enough to keep up with other changes that could happen in your life.
You can make withdrawals when you reach your qualifying date, however, you may also have other opportunities to use your savings before you retire. Provided you meet the criteria, this might apply to you in the case of:
- a purchase of your first home
- significant financial hardship
- serious illness
- permanent emigration (not to Australia)
- withdrawal of Australian retirement savings (from age 60 provided you have retired under Australian law).
If the unthinkable happens and you pass away before you retire, your KiwiSaver savings will be payable to your estate.
Inland Revenue has some rules about how all of these withdrawals work and which types of contributions you can withdraw for different situations.
Find out more about ways to use KiwiSaver.
Important informationShow more
AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme (the 'Scheme'). The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited.
SuperRatings does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details of its ratings criteria.