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KiwiSaver and Retirement

What happens at retirement?

Under current legislation you can access your KiwiSaver savings when you reach the age of 65.

If you joined KiwiSaver (or a complying fund) before 1 July 2019, a 5 year minimum membership requirement applies if you were aged 60 or over when you joined. Once you’ve reached the age of 65 you can opt out of this requirement and make a partial or full withdrawal, however of you do so you will  forego your right to compulsory employer contributions and the Government contribution.

This is a long way off for many Kiwisaver members but if you're about to reach this milestone now is the time to start thinking about what you'll do with your KiwiSaver savings and how you can make the most of them in retirement along with your other assets.

What are your options in the Fisher Funds TWO KiwiSaver Scheme?

You can select the option that best suits you:

  • Keep your money in your KiwiSaver account
  • Set up a regular withdrawal* from your account to supplement your pension or other retirement income sources
  • Withdraw some or all of your funds at any time*

*Minimum withdrawal amounts and balances apply

Reasons to consider keeping your money in KiwiSaver

There are some good reasons to consider keeping your KiwiSaver account going beyond 65.

  • As you know, KiwiSaver provides an easy, transparent and very cost effective way to continue to invest (compared to other investment vehicles). It will also ensure your retirement assets are diversified rather than simply being in the bank.
  • The Fisher Funds TWO KiwiSaver Scheme provides flexible investment options covering the full risk / return horizon so that your money is invested in a manner consistent with your risk profile and investment goals.
  • Don't forget you are able to change your investment strategy at any time.

How do you make a retirement withdrawal?

You will need to complete our Retirement Withdrawal Form available here.

Please note the form requires a statutory declaration so it needs to be witnessed by a Justice of the Peace, Solicitor, Notary Public or other person authorised to take a statutory declaration.

You also will have to provide certified ID, proof of residential address and proof of bank account with your application. Please read the document checklist on page 1 of the withdrawal form for more information.

It also pays to think about the following:
There’s a good chance you’ll live much longer than 65. The current life expectancy in New Zealand is 86 years for men and 88 years for women. That’s at least another 21 to 23 years you need to plan to make your money work for you in retirement. Source: Statistics NZ, Life Expectancy Projection March 2023.

Many people don’t spend adequate time planning for their retirement. It’s important that you take stock of your situation. Will your current capital base provide the income you need to cover your expected cost of living plus the little extras like travel and treating the grandkids? A married couple who both qualify for NZ Super will receive combined $763.64 a week or collectively about $39,709* per year. I’m sure you’ll agree that’s not a lot to rely on.

Need help?

We recommend that you speak with a financial adviser to put an investment plan in place for your needs. If you don't currently have a financial adviser please call us on 0800 20 40 60 or email us and we'll put you in touch with an adviser. 

We will send you a letter in the weeks before you become eligible to access your savings.

More questions? Read our FAQ’s »


* Source: Work and Income website ( as at 1 April 2023, after deducting tax at rate ‘M’.

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