OneAnswer KiwiSaver Scheme

When can you withdraw your KiwiSaver savings?

You can withdraw savings from your KiwiSaver account when you’re 65 or older and you’ve been a member of KiwiSaver (or a complying superannuation fund) for at least five years.

In limited circumstances, you may be able to withdraw some, or all, of your savings early. See accessing your savings in retirement for more information.

What are the fees and costs?

When it comes to fees, we have a straightforward approach. You pay fees in two ways – and these cover everything that’s involved in the management of your investment.

Membership fee: This is a flat $2 a month (or $24 a year) and it helps to pay for the day-to-day administration of your KiwiSaver account. It’s deducted from your KiwiSaver account every month.

Annual fund charge: This is a percentage amount based on the fund (or funds) you’ve chosen to invest in. Importantly it pays for the investment management of that fund – that is the skills and expertise of our investment team who carefully manage the money you have invested. It also pays for the supervision of our scheme by an independent third-party, and our regular communications to you.

You can see both your annual fund charge and your membership fee on your account statement. For more information see our online statement guide or find out more about our fees and costs.

What are the risks?

Like any investment, KiwiSaver involves taking some risk. Your investment in the OneAnswer KiwiSaver Scheme might not do as well as expected and you may not receive back the full amount you contributed to your KiwiSaver account.

The level of risk will vary depending on the fund your savings are invested in. You need to decide how these risks apply to your personal circumstances. Find out more about investment risks.

Watch our video to find out more about the differences between savings accounts and KiwiSaver and managing your risk.

Are you prepared for market volatility?

Investment market volatility is part of investing and does not have to be a cause for concern. Find out how you can be prepared for market volatility.

What if you want to stop contributing?

You can apply to stop contributions from your pay if you need to - but not until at least 12 months after your first KiwiSaver contribution is paid to Inland Revenue. This is called a contributions holiday. See your contributions for more information.

What if you don’t want to stay in the OneAnswer KiwiSaver Scheme?

You may have been automatically enrolled in the OneAnswer KiwiSaver Scheme because it’s your employer’s chosen scheme. If you were automatically enrolled and you decide KiwiSaver isn’t for you, you have between 14 - 56 days from, and including, the day you start your new job to opt out of the OneAnswer KiwiSaver Scheme.  To opt out, you will need to send an Opt-out Request Form (KS10) to Inland Revenue or your employer.

What if you're already in KiwiSaver?

Please compare your current scheme and consider any benefits you currently receive before switching schemes.

Before you join the OneAnswer KiwiSaver Scheme, we recommend you seek financial advice from a financial adviser.

What if you're already a member of the OneAnswer KiwiSaver Scheme?

If you’re a current OneAnswer KiwiSaver Scheme member, see the Make the most of KiwiSaver and Managing KiwiSaver sections to find out how to make your KiwiSaver account work for your retirement.