Get the most out of your KiwiSaver
August 2020
As we continue to navigate 2020 and all that it has thrown at us, I'm sure like many you're starting to really think about your future and ensuring you're getting the most out of every dollar. The markets have seen some volatility in the first quarter of 2020, however, it is important to remember that this is a normal part of investing. Ups and downs in markets do happen from time to time, especially in response to such global events as Covid-19. It is good to know they have recovered and grown.
If you think it might be time to review or change your KiwiSaver provider below are some questions you should be asking before making the switch.
GET TO KNOW YOUR KIWISAVER
What are the fees?
All KiwiSaver providers charge fees, but ensuring you're not getting charged too much in fees depends on the type of fund you are with. Do you know how much you’ve been getting charged? You can check how much you are paying in fees on your KiwiSaver statement, or ask your provider.
Is the fund actively managed or passive?
A passive fund will typically have lower fees, however, it may not get as strong returns as an actively managed fund. An actively managed investment fund is a fund in which a manager or a management team makes decisions about how to invest the fund's money. A passively managed fund, by contrast, simply follows a market index. It does not have a management team making investment decisions.
What risk level should I be in for my life stage?
Your life stage will influence what type of fund your best to be in. For example, if you're pre-retirement you're probably best in a balanced or conservative fund. However, if you are just starting out on your KiwiSaver journey, growth or aggressive fund is often the best long term solution. Sorted’s Fund Finder is a great tool to help you compare fund providers, and choose the right risk level to be in for you.
Is my provider investing in funds I support
Not all providers have an ethical investing policy. An example of unethical investing is a fund that invests in such things as tobacco, guns, adult entertainment. In addition, you may want to ensure that more of your money is invested locally in New Zealand as opposed to offshore.
SWITCHING IS EASY
Whether you're joining a KiwiSaver scheme for the first time or want to switch from another provider it's easy. We can send you a link to complete yourself or all we'll need is
Your IRD Number
Current Passport or driver’s license
Current proof of address such as a utility bill, or bank statement
Want to make a plan today?
If you have any questions regarding your insurance cover or want to see how we can help with KiwiSaver, lets chat, and together we can make sure your future is protected as best as possible.