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Lifetimes option



What is it?

The idea behind it

If you're young, you have a reasonably long time until retirement age. You can invest in riskier assets in the hope of receiving higher returns, and the good years should more than balance out the bad years.

This changes as you approach retirement when you're better to accept lower returns but take less risk (because you have a shorter time until retirement and less time to recover any losses).

Where your savings go

When you're young, your savings are invested mostly in growth assets (such as equities and listed property). As you get older, your savings move more into income assets (such as cash and cash equivalents and fixed interest).

The Lifetimes option might not be right for everyone

Our Lifetimes option doesn't take your personal circumstances into account, and so it might not be right for you. For example, you might have a different appetite for risk than the average person of your age or you might want to use some of your KiwiSaver savings to help buy your first home.

We recommend you seek personalised financial advice from a financial adviser. Call us on 0800 269 238 to speak with an ANZ Financial Adviser.

Choosing our Lifetimes option

Choosing our Lifetimes option can make a big difference

Anisha is 25 years old and earns $35,000 a year (before tax). She wants a KiwiSaver option that will move her from fund to fund as she gets older.

Under our Lifetimes option, her KiwiSaver savings will be invested in a fund that has an appropriate risk/return profile for her age. Even if Anisha only contributes the minimum of 3% from her pay, by the time she's 65 she could be around $87,000 better off in our Lifetimes option than in our Conservative Fund (this is around $39,000 better off when adjusted for inflation).

For background information and numbers used in this case study, see About our case studies.


For further information, please see the relevant guide and product disclosure statement:

The guide and product disclosure statements are available by calling 0800 736 034. The ANZ KiwiSaver Scheme guide and product disclosure statement are also available from any ANZ branch.

Issuer and manager: ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme.

Investments are not deposits in ANZ Group: Investments in the ANZ KiwiSaver Scheme or the ANZ Default KiwiSaver Scheme are not deposits in ANZ Bank New Zealand Limited,  Australia and New Zealand Banking Group Limited, or their subsidiaries (together 'ANZ Group'), nor are they liabilities of ANZ Group. ANZ Group does not stand behind or guarantee ANZ Investments. Investments are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group will not be liable to you for the capital value or performance of your investment.

No guarantee: Investments in the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme are not guaranteed by ANZ Group, any of its directors, or any other person.

For information only: This website has been provided for information purposes only and is subject to change. The content of this website is intended to be of a general nature and does not take into account an investor’s, or potential investor’s, financial situation, investment objectives, or risk tolerance.

Not investment advice: This website is not intended to constitute, does not constitute, and should not be construed as constituting, investment advice nor is it a substitute for commercial judgment or other professional advice. Investors, or potential investors, should: (i) conduct independent due diligence on any investments; and (ii) obtain independent investment and professional advice, including tax advice, prior to acting in reliance on this website.

For specific investors only: This website is intended for investors who understand the investment risks referred to on it. Some, or all, of the investments mentioned on this website may not be suitable for certain investors. Investors, or potential investors, should consider whether: (i) an investment is appropriate for their risk profile; and (ii) they will meet the suitability requirements relating to those types of investments.

Speak to a financial adviser: This website is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult a financial adviser, please call us on 0800 269 238 and we will provide you with the contact details for a financial adviser in your area. A financial adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008.

Past performance: Past performance does not indicate future performance. The actual performance any given investor realises will depend on many things, is not guaranteed and may be negative as well as positive.

How performance is calculated: Except for in the quarterly KiwiSaver fund updates (in which investment performance is calculated after fees and at a 28% prescribed investor rate), performance is after annual fund charges, and before tax and membership fees. The funds in respect of products mentioned on this website are portfolio investment entities (PIEs). Performance for funds operating before they became PIEs on 1 October 2007 has been recalculated to be on the same (pre-tax) basis. Returns for all periods longer than 1 year are annualised.

Unit prices: The unit price is calculated in accordance with the applicable governing document (each as amended, added to or replaced) for the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme. The actual unit price that applies at the time a transaction request is received and accepted may differ from the unit price shown.