The best time to start saving for retirement isn’t when you’re old, it’s when you’re young.
The earlier you start saving, the better off you’ll be.
There’s a reason why Albert Einstein described compound interest as the Eighth Wonder of the World.
To help give our tamariki a hand, we’re removing the annual membership fee of $27 p.a. for minors. So if you’re under 18, regardless of your account balance, from Oct.1st, we’ll no longer charge the membership fee, which is normally deducted from your account on a monthly basis.
For those with balances under $1,000, we’ll continue to waive the membership fee as well. The management fee (which varies according to your fund type) remains unchanged.
KiwiSaver isn’t just for retirement. It can also be used for a deposit on a first home, which is why many parents choose to enrol their children. It also makes a great gift from grandparents or family members who want to help build up those nest eggs.
Find out everything you need to know on MoneyHub’s Definitive Guide to Kids and KiwiSaver, sponsored by CareSaver.
Opening a child’s KiwiSaver account takes only a few minutes.