What happens when I’m 65?
You can withdraw your KiwiSaver balance from the age of 65.
You can withdraw everything then, but we recommend you take money out over time as you need to make sure that your KiwiSaver money lasts for the rest of your life.
KiwiSaver is an investment to help fund your retirement. At 65, you are free to withdraw all your money and do what you want with it. But you can keep your KiwiSaver account open and earning returns for you, as you take money out when you need it. You will no longer receive government money and your employer is no longer obligated to pay a contribution but may offer to.
We believe that for most people, it is far better to leave the money invested in their KiwiSaver plan so that it can continue to grow at a faster rate than a bank saving account. At 65, you have another 25-30 years in front of you so you can continue to invest a proportion of your funds in growth assets. kōura will take care of this for you.