What is Kiwisaver?

KiwiSaver is a voluntary, work-based savings initiative to help you with your long-term saving for retirement. It's designed to be hassle-free so it's easy to maintain a regular savings pattern. There are a range of membership benefits to encourage you to get saving. The benefits include:

•   $1,000 kick-start, regular contributions from your employer
• An annual member tax credit paid by the Government.
• Some people may also be eligible for help with the deposit on their first home.

 KiwiSaver schemes are managed by private sector companies called KiwiSaver providers. You can choose which KiwiSaver provider to invest your money with.KiwiSaver is not guaranteed by the Government. This means you make your investment choices in a KiwiSaver scheme at your own risk.

  If you have just started a new job and you are being automatically enrolled, you will be allocated to a default scheme via the Inland Revenue. Six financial institutions have been appointed by the government to be default scheme providers. They are AMP, ASB, AXA, ING, Mercer and Tower. However all default schemes will be a 'conservative fund'. These schemes may not necessarily be the best choice for your individual needs. This is where we come in:
When you are allocated to a default scheme you will receive a letter from Inland Revenue advising you which scheme you have been allocated. You must read this carefully and make sure you understand all the rules, fees and terms associated with your default scheme.
Note: Your contributions will be held by Inland Revenue for the first three months to give you time to get financial advice and choose your own scheme if you wish - it is strongly recommended that you seek independent financial advice. Contact us today

   Choosing Your Own Scheme: How we can help you?

 Kathy Wright- St Clair an AFA Advisor,is fully conversant with the legislation pertaining to KiwiSaver and she will research the current offerings to identify those plans most suitable for you. It is important to personalise your plan rather than be satisfied with the default options provided by the IRD. Our advice is tailored to each individual situation so you can be confident that the plan we recommend for you, will meet your objectives.Kathy will meet with you either on an individual or group basis. During this meeting she will help you make 3 very important decisions that will allow you to choose your KiwiSaver Scheme provider wisely.
1. What type of Investor Personality am I?
2. What Scheme best suits my Investment Personality?
3. What benefits do I need to safe guard my financial future?
Based on your personal financial goals and aspirations, Kathy will assist you in choosing the best KiwiSaver Scheme that will suit your needs. 

 For more information on the changes proposed in Budget 2011 visit

 Inland Revenue website.