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When to Review Your KiwiSaver plan

When to Review Your KiwiSaver plan

KiwiSaver has rapidly become a "set and forget" savings strategy for many New Zealanders... they join and get the initial incentives, most contribute and enjoy the additional contributions from employers and the government... and then they forget about it.

For many though KiwiSaver will turn out to be one of the biggest contributors to self sufficiency in retirement... so it definitely should not be a "set and forget" superannuation plan.

Here are the big questions that suggest you may have fallen into the "haven't thought about it" trap. If you answer "YES" to any of the questions, then you really should review your KiwiSaver plan:

  1. Is it time yet?I don't know how my KiwiSaver fund account is performing.
  2. I don't know how much it is likely to provide in retirement.
  3. I don't know if I am getting the maximum tax incentive and employer contributions put into to my KiwiSaver account.
  4. I didn't choose any particular plan or fund – it was chosen for me.

There is already enough guess work in planning for retirement, and if you aren't thinking about how to make the most of your KiwiSaver account then you are leaving it ALL to guesswork.

If you'd like to understand your current KiwiSaver investment better, or don't have KiwiSaver and would like to discuss your options please feel free to call us on 07 578 3863 to make an appointment. The first half hour is free!

KiwiSaver is operated by Bay Financial Partners Limited  and is not endorsed by, or affiliated with, the government or Inland Revenue. Bay Financial Partners Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.


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