Cave Financial Services

KiwiSaver

KiwiSaver is a work-based savings scheme intended to help members build up their savings through regular contributions, taken directly from their pay, making saving easy and accessible.

KiwiSaver comes with a range of benefits, including employer and government contributions. In 2019, a number of positive changes have been made to the scheme, including 2 new contribution rates (6% and 10%) meaning there are now even more options for you to choose an affordable amount and give you the best chance of maximising your savings. Despite the amount you contribute, your employer must also contribute at least 3% to your fund, and you could even receive a further $521 from the government.

Whilst it's important to remember that the purpose of KiwiSaver is to build your retirement fund, there are a number of circumstances in which you can withdraw your funds for other reasons. You can also take a savings suspension for up to one year, however it is difficult to compensate for those lost contributions, and pausing your investments can have a detrimental effect on your overall fund.

Evidently there are a huge number of benefits to investing in a KiwiSaver fund, however too many Kiwi's are missing out on the full potential of their retirement savings. Joining KiwiSaver and making regular contributions is a great first step, however it's just as important to review your fund regularly. Like any investment, your KiwiSaver needs will change depending on your age and life stage. It's worth looking at the balance of your funds at lest annually to make sure you have the right investment mix.

One of our qualified financial advisors can help you get the most from the scheme, so you can just watch your savings stack up.


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"I am thrilled with the advice and service Michael provided me for financial planning and for personal insurance. Trustworthy and a very nice chap! I highly recommend his services."
Andrew Malmo

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