New Year's resolutions to boost your KiwiSaver savings

January 2020

The start of a new year is the perfect time to review your financial goals – like planning for the lifestyle you want in retirement. Here are some simple New Year’s resolutions to help you make the most from your KiwiSaver savings.

1. Maximise your Government contribution

If you’re eligible, the Government will contribute up to $521.43 each year to your KiwiSaver account – so it makes sense to maximise the Government contribution to help you save for your retirement.

To get the maximum amount, you need to contribute at least $1,042.86 each year (between 1 July and 30 June). If you’re employed, earning at least $35,000 and contributing at least 3% of your salary or wages, you should reach that amount automatically. If not, you can top up your contributions by either increasing your contribution rate, or making voluntary one-off or regular contributions.

2. Make sure you're in the right fund

Your fund choice can make a big difference to the amount you have when you retire. You can choose from a range of different funds – each fund has a different mix of assets and different levels of risk and potential returns. The best option for you depends on things like your age, your tolerance for risk and your individual goals, which can change over time. You can switch between funds at any time via ANZ Internet Banking, by completing our online form, or by calling us.

We recommend you review your fund choice annually to make sure it’s still the most appropriate option for you. You can find out more about our funds (including our Lifetimes option which takes the hassle out of choosing a fund). 

We can also connect you to a financial adviser who can provide you with advice tailored to your personal situation.

3. Review your own contributions

If you’re employed, the ‘default’ rate for KiwiSaver contributions from your wages or salary is 3% - but you can choose to contribute 4%, 6%, 8% or 10% instead if you want to. It’s worth considering whether you can afford to increase your contribution rate, because the more you contribute now, the bigger the impact on your savings when you retire. 

4. Track your progress

Whether your retirement goal is to travel, follow your passion, spend time with your family or something else, the key to achieving it is to regularly check your progress.

Use our KiwiSaver account calculator to help you work out how much you’re likely to have when you retire, based on your current arrangements. Then, take any actions you need to get yourself back on track.

Important information

This article has been prepared by ANZ New Zealand Investments Limited for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 736 034, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see

Past performance does not indicate future performance. Performance is not guaranteed and may be negative as well as positive.