From 1st July 2019 - people aged over 65 can join KiwiSaver and your money isn't locked in. This means that you can have access to a range of diversified low fee managed funds with flexibility. Most KiwiSaver funds can be used to pay regular income streams to you (fortnightly, monthly, quarterly), which will help you with your retirement funding planning.
Happy elderly seniors couple in park
You won't be available for the matching tax credits, and even for people who join after the age of 60 - you won't be locked in for 5 years, you will be able to access your funds from the age of 65 (but this does impact on your eligibility for the tax credits.)
This is a great option for your retirement planning if you don't have enough funds to put in place an investment portfolio. If you would like more information on how this could work for you, contact us by email at contact@moneyworks.co.nz or by phone on 0800 225 621.
