first home assistance
While KiwiSaver is primarily designed to save for retirement, it has the following benefits for first home buyers:
» If you’ve never owned a home before (and meet other eligibility criteria under the KiwiSaver Act), you may withdraw some or all of your KiwiSaver savings to put towards the purchase of your first home.
» If you are eligible to make a first home withdrawal, you may also be eligible for a KiwiSaver HomeStart grant. This is a tax-free government benefit that could be worth thousands towards your first home. The longer you’ve been contributing to a KiwiSaver scheme, the larger the potential benefits. Check out KiwiSaver.govt.nz for more information.
KiwiSaver is a painless way to regularly put a little aside for your future. If you’re employed, regular contributions can be deducted from your pay and while you’re contributing your employer must also make contributions to your savings.KiwiSaver is a voluntary savings scheme that will help with your long-term retirement savings. KiwiSaver is designed to be easy.
» If you’re employed, your employer contributes to your savings too.
» Your KiwiSaver contributions come out of your pay before you even see it.
» The government contributes to your KiwiSaver savings as well with an annual member tax credit (if you are a contributing member aged 18 or over) of up to maximum of $521.43 (provided you meet certain eligibility criteria).
Lifestages KiwiSaver Scheme
Funds Administration New Zealand Limited (FANZ), a subsidiary of SBS Bank, is the provider of the Lifestages KiwiSaver Scheme. FANZ also has Authorised Financial Advisers located in SBS Bank branches around the country.
The Lifestages KiwiSaver Scheme gives you control without you needing to micro manage your investments. You can choose the “Lifestages Auto” investment option which automatically changes your exposure to income and growth assets as you grow older. Alternatively, FANZ’s Authorised Financial Advisers are available to discuss your investment options, and together come up with the best way for you to save for your future. The Lifestages KiwiSaver Scheme is flexible too, so as your life and needs change, your investments can change as well.
» A knowledgeable team who will help you figure out your investment profile
» A choice of investment portfolios that meet your needs
» Access to a wide range of investments
» Lifestages Auto takes away the hassle of reviewing your investments and delivers the right investment mix for you at the right stage of life. This lets you get on with doing other things in life!
how do i invest?
You can switch from your current KiwiSaver scheme to the Lifestages KiwiSaver Scheme at any time. So today is a great time to book a free appointment with a FANZ Authorised Financial Adviser to discuss this. They’ll discuss your investment options to determine how your future income and financial needs can be met.
Click here to find the Lifestages KiwiSaver Scheme Product Disclosure Statement and how to sign up