Welcome to the OneAnswer KiwiSaver Scheme
The information on this website, together with the OneAnswer KiwiSaver Scheme guide and product disclosure statement, explains the choices available to you.
KiwiSaver is a long-term savings initiative designed to help you save for your retirement.
What do I contribute?
The contributions you need to make to KiwiSaver depend on your personal situation.
I'm employed / self-employed
If you're employed you must contribute at least 3% of your before-tax pay each pay day.
If you’re self-employed and PAYE is deducted from your income you must contribute at least 3% of your before-tax pay each pay day. You are also required to pay an employer contribution of 3% to your KiwiSaver account.
If you’re self-employed and don’t deduct PAYE from your income you can contribute any time and for any amount.
For more information see your contributions.
I have an existing superannuation scheme
If you’re already in another superannuation scheme, it’s important you talk to your employer before joining KiwiSaver.
Joining KiwiSaver may affect the contributions you and your employer make to your existing superannuation scheme.
You can contribute any time and for any amount.
See voluntary contributions for more information.
What are the main benefits?
KiwiSaver’s main benefits are that it helps you save for retirement and could help you buy your first home. As well as your savings, you may also receive:
How do we invest your KiwiSaver savings?
Your KiwiSaver savings are invested in one or more of our 13 funds. Our funds invest in various asset classes with the aim of growing the savings in your KiwiSaver account over time.
You can choose between our range of single-asset-class funds, our Lifetimes option and our range of multi-asset-class funds. Our single-asset-class funds are designed for you to invest in on the advice of your financial adviser. This investment suite is different to other KiwiSaver schemes we manage.
See Our funds for more information.
We invest your funds responsibly.
We are committed to a responsible investing approach that aims to deliver sustainable performance in a sustainable way. As part of that we are also committed to being open and transparent about what we invest in.
View a full list of our holdings here.
What are the policy changes to KiwiSaver?
There are some changes being made to all KiwiSaver schemes this year and next year. The law updates include two new contribution rates, allowing people aged 65 or over to join KiwiSaver and changes for people aged 60-64 who are looking to join a KiwiSaver scheme for the first time.
Find out more about what's happening and why in our summary webpage.
When can you withdraw your KiwiSaver savings?
You can usually begin withdrawing your savings from your KiwiSaver account when you turn 65. If you joined KiwiSaver (or a complying superannuation fund) before 1 July 2019, a five year membership requirement also usually applies before you can begin withdrawing your KiwiSaver savings.
From 1 April 2020, you can opt out of the five-year minimum membership lock-in period. If you opt out, once you turn 65 you will not receive Government contributions and your employer can stop their contributions.
In limited circumstances, you may be able to withdraw some, or all, of your savings early. See accessing your savings in retirement for more information.
What are the fees and costs?
When it comes to fees, we have a straightforward approach. You pay fees in two ways – and these cover everything that’s involved in the management of your investment.
Membership fee: This is a flat fee of $1.50 a month (or $18 a year) for members aged 18 and over. It helps to pay for the day-to-day administration of your KiwiSaver account. It’s deducted from your KiwiSaver account every month. There is no membership fee for members under 18.
Annual fund charge: This is a percentage amount based on the fund (or funds) you’ve chosen to invest in. Importantly it pays for the investment management of that fund – that is the skills and expertise of our investment team who carefully manage the money you have invested. It also pays for the supervision of our scheme by an independent third-party, and our regular communications to you.
What are the risks?
Like any investment, KiwiSaver involves taking some risk. Your investment in the OneAnswer KiwiSaver Scheme might not do as well as expected and you may not receive back the full amount you contributed to your KiwiSaver account.
The level of risk will vary depending on the fund your savings are invested in. You need to decide how these risks apply to your personal circumstances. Find out more about investment risks.
Are you prepared for market volatility?
Investment market volatility is part of investing and does not have to be a cause for concern. Find out how you can be prepared for market volatility.
What if you want to stop contributing?
You can apply to stop contributions from your pay if you need to - but not until at least 12 months after your first KiwiSaver contribution is paid to Inland Revenue. This is called a contributions holiday. See your contributions for more information.
What if you don’t want to stay in the OneAnswer KiwiSaver Scheme?
You may have been automatically enrolled in the OneAnswer KiwiSaver Scheme because it’s your employer’s chosen scheme. If you were automatically enrolled and you decide KiwiSaver isn’t for you, you have between 14 - 56 days from, and including, the day you start your new job to opt out of the OneAnswer KiwiSaver Scheme. To opt out, you will need to send an Opt-out Request Form (KS10) to Inland Revenue or your employer.
What if you're already in KiwiSaver?
Please compare your current scheme and consider any benefits you currently receive before switching schemes.
Before you join the OneAnswer KiwiSaver Scheme, we recommend you seek financial advice from a financial adviser.
What if you're already a member of the OneAnswer KiwiSaver Scheme?
Why have your KiwiSaver savings with us?
If you have any questions about the OneAnswer KiwiSaver Scheme contact us through:
To join a KiwiSaver scheme, you must be:
To join or transfer, read the guide and product disclosure statement and then complete and return the relevant application form at the back of the product disclosure statement.
If you want to have a decent nest egg when you stop working, it's worthwhile spending some time thinking about it now.
If your employer has enrolled you in the OneAnswer KiwiSaver Scheme, you don't need to do anything to stay with the OneAnswer KiwiSaver Scheme. For the first three months after you first join KiwiSaver, Inland Revenue will hold all contributions to your KiwiSaver account in a tax-free holding account and will pay interest on those amounts. After this time, Inland Revenue will transfer all contributions (including the interest) to your KiwiSaver account.