KiwiSaver is a work-based savings scheme designed to help you save for your future.
Here’s how it works:
- As an employee, you will make KiwiSaver contributions of an amount equal to either 2%, 4% or 8% of your gross salary or wages. You may contribute more if you choose by way of lump sum or regular direct debit contributions.
- Contributions are generally ‘locked in’ until you reach the age of entitlement for New Zealand Superannuation (currently 65) or until you have been a member of a KiwiSaver scheme for at least five years, whichever is the later.
- Early withdrawals are allowed in special circumstances, for example: purchasing a first home, significant financial hardship, serious illness and permanent emigration.
- Once you have been investing in a KiwiSaver scheme for 12 months, you can take a ‘contributions holiday’, that is, stop making payments to your KiwiSaver scheme for a period of time.
ING’s managed KiwiSaver schemes are a simple yet effective way to save for your retirement
Investing made simple - the Lifetimes option.
All KiwiSaver schemes managed and administered by ING (NZ) Limited ("ING") offer the "Lifetimes" option, which effectively adjusts an investor's levels of growth and income assets based on its specific length of time to the standard New Zealand Superannuation qualification age (currently 65). By selecting the Lifetimes option, you will automatically transition through the various portfolios when you reach pre-determined age milestones.
| Age |
Portfolio |
| 0 - 35 |
Growth Fund |
| 36 - 45 |
Balanced Growth Fund |
| 46 - 55 |
Balanced Fund |
| 56 - 60 |
Conservative Balanced Fund |
| 61 - 64 |
Conservative Fund |
| 65+ |
Cash Fund |
Please note: From time to time, the age ranges applying to the various funds included in the Lifetimes option may change, and the funds related to certain age bands may be added or deleted. The Lifetimes Option has been designed on a general basis, does not constitute financial advice and does not take into account every individual’s circumstances or situation. All funds have some degree of risk. We recommend Members seek independent professional financial advice if they are unsure.
SIL KiwiSaver - experience, flexibility and choice
Experience matters. SIL Mutual Fund (“SIL”) is New Zealand’s longest-standing superannuation fund, established in 1959. SIL KiwiSaver, which is supervised by the same Trustee as SIL, is the latest enhancement to SIL. In addition, the Administration and Investment Manager of the SIL KiwiSaver Scheme, ING, is one of New Zealand’s most-awarded fund managers.
SIL KiwiSaver Scheme, brought to you by ING, offers one of the largest KiwiSaver investment choices available with 13 funds for you to choose from, including a sustainable growth option. This choice gives you the ability to make a socially conscious decision about where your money is invested. Or if you prefer, you can simplify your investment decision process by selecting our Lifetimes option. The process that is best for you will depend on your particular situation, stage of life and financial goals.
SIL KiwiSaver Scheme Multi-sector Funds
Our five multi-sector funds (funds investing in a mix of asset types) range from a Conservative option to a Growth option. You can select where your money is invested, which will often be determined by how much risk you are prepared to take. This will also have a bearing on your potential return as illustrated in the graph below.
SIL KiwiSaver Scheme Single-sector Funds
You also have the option of choosing from our eight single-sector funds (including a sustainable growth fund). As the name suggests, each fund invests in just one sector, e.g. cash, fixed interest, property or shares, here or overseas.
For further details of our SIL KiwiSaver Scheme, download the Investment Statement. Or alternatively, order a copy of the SIL KiwiSaver Scheme information pack. You can also call us on 0800 108 685.
Click here to download the SIL Sustainable Growth Fund Responsible Investment Policy
If you’re not sure which investment fund is right for you, talk to your financial adviser.
Information on the risk profiles of the SIL KiwiSaver Scheme Single-sector Funds is contained in the SIL KiwiSaver Scheme Investment Statement.
A kick-start for kids
Placing a little bit in KiwiSaver is a great way to initiate savings habits for those under the age of 18 years. In addition, the Government will kick-start your child’s first KiwiSaver account with a tax-free contribution of $1,000.If the child becomes an employee, contributions will then start to be deducted from their salary or wages. On turning 18 years of age, other KiwiSaver benefits may become available such as tax credits and first-home buyer subsidy.
So, you’re not earning a wage or salary
You may be self-employed or not currently earning an income - for example, you may be a stay-at-home parent. KiwiSaver is an excellent option for saving for your retirement, with benefits such as: the $1,000 kick-start from the Government; and a member tax credit to match your contributions to the Scheme of up to approximately $1,040 per year. Because you don’t have an employer, you will not be automatically enrolled in a KiwiSaver scheme. Therefore, if you would like to invest in KiwiSaver, you can join directly with ING through a solution such as the SIL KiwiSaver Scheme by contacting ING Client Services on 0800 108 685 or downloading and completing the Investment Statement.
Transferring your KiwiSaver to ING
You can easily transfer from your existing KiwiSaver scheme provider to the SIL KiwiSaver Scheme. Your entire account needs to be transferred, as you can only belong to one KiwiSaver Scheme at a time. Simply fill out the application form in the SIL KiwiSaver Scheme Investment Statement and send it back to us at ING. We will then arrange for the transfer of your funds to be made to your new SIL KiwiSaver Scheme.
Our SIL KiwiSaver Scheme pack contains more detailed information about all the investment options available to you. Order a SIL KiwiSaver Scheme information pack for more information.
Note: Certain aspects of the Scheme and all other KiwiSaver schemes are prescribed in the KiwiSaver Act 2006 (the “Act”). This page reflects the Act and other laws relating to KiwiSaver as at 29 November 2009. The Act and other laws relating to KiwiSaver may be amended from time to time by the Government and any such amendment may impact on the Scheme.
ING (NZ) Limited (INGNZ) is the administrator, investment manager and promoter of the SIL KiwiSaver Scheme (the Scheme). The trustee and issuer of the SIL KiwiSaver Scheme is Superannuation Investments Limited (SIL). None of ING (NZ) Holdings Limited, SIL, ANZ National Bank Limited, Australia and New Zealand Banking Group Limited, any member of their respective group of companies, their directors, the Crown or any other person guarantees (either partially or fully) the capital value or performance of any products issued or managed by it, including the Scheme. Units in the Scheme do not represent deposits or liabilities of ANZ National Bank Limited.
The information contained on this website is general in nature and does not constitute financial advice. It may not be relevant to individual circumstances. Before making any investment decisions, you should consult a professional adviser.
For further information about the SIL KiwiSaver Scheme, please refer to the SIL KiwiSaver Scheme Investment Statement or call toll free on 0800 108 685 for a copy of the prospectus.
- Last updated 01/12/2009
