How does KiwiSaver work?

Your KiwiSaver savings are made up of contributions to your account, plus or minus investment returns, minus any withdrawals, fees and taxes.

Contributions are paid to your KiwiSaver provider, where they are invested in the scheme of your choice
Contributions are paid to your KiwiSaver provider, and are invested in the scheme of your choice...

Add or subtract your investment returns which can go up or down over time
...add or subtract your investment returns, which can go up or down over time...

Take off any withdrawals (like the first home withdrawal), fees and taxes
...subtract any withdrawals (like the first home withdrawal), fees and taxes...

And you're left with your retirement savings. Most people become eligible to get their money when they qualify for NZ Super (currently 65).

...and you're left with your retirement savings.

 

Most people become eligible to get their money when they qualify for NZ Super (currently 65).

The Sorted website has a calculator that estimates what your savings may be worth when you become eligible to withdraw them.