Should I choose KiwiSaver or an investment fund for my kids?
Should I choose KiwiSaver or an investment fund for my kids?
We offer both KiwiSaver and Investment Fund accounts for children. Diversified funds in both schemes currently have the same management fee.
You can view the KiwiSaver performance table hereand the Investment Fund performance table here.
KiwiSaver: Savings are generally locked in until first home purchase or retirement (and other circumstances under strict criteria). Under 16s don’t receive government or employer contributions. After turning 16, young people contributing to KiwiSaver may qualify for government and employer contributions.
Investment Funds: Investment Funds offer more flexibility than KiwiSaver. You can invest across multiple funds (for example, the Unhedged Global Share Fund and Cash Fund), and withdrawals can be made at any time. Once we receive a withdrawal request through your online account, the money is usually paid into your nominated bank account within 3 - 4 working days.
For a more in-depth discussion about investing for children, check out episode #22 of our Money Made Simple podcast.
To join our Investment Funds scheme, please complete this online form. It takes a few minutes to complete. Make sure you follow the instructions and complete all the fields. You can save your application progress as you go and submit when you're ...
No. With Simplicity, your KiwiSaver account can only be invested in one fund at a time. Our KiwiSaver funds are already broadly diversified, and many of the investments across the funds overlap. For most people, KiwiSaver has one long-term purpose, ...
KiwiSaver is designed as a long-term investment, so the money is typically "locked in" until you reach the qualifying age of 65. However, there are a few specific situations where you can access your funds earlier, such as if you're purchasing your ...
The investments within the Simplicity KiwiSaver Funds are taxed based on the tax regime that relates to each of them. So, for example, there is no tax paid on capital gains from New Zealand and Australian shares; only on dividends. International ...
You may be eligible to withdraw most of your KiwiSaver savings to help buy your first home, if you meet all of the following criteria: You’ve been a KiwiSaver member for at least three years You’re buying a house or land in New Zealand You intend to ...