What fund should I be in now I’m over 65?

You’ve got access to your KiwiSaver savings – great news! But what happens now?

Just as no two people are alike, there's no one-size-fits-all way to manage your money when you retire. Now that you've hit that milestone, it's a good idea to make a plan for your retirement journey that takes your unique situation into account.

Did you know that you don’t have to withdraw your savings now that it’s available? You can leave your money in your KiwiSaver account until you decide to withdraw some or all of it.

You can even keep contributing – either through your salary or wages (if you’re still working) or by making lump sum contributions. This can be a good option if you don’t need your money right away. It also means you’ll remain invested, giving your savings a better chance at lasting longer throughout your retirement.

You can set up regular withdrawals to give you a steady stream of income while keeping the rest of your savings invested. This can be a good way to supplement your NZ Super while also keeping your savings working harder for you.

You can make lump sum withdrawals at any time, which can be helpful for one-off expenses like an overseas holiday. This means you can keep any money you don’t currently need invested and working hard for you in your KiwiSaver account. 

Or, if you have a plan in mind for your KiwiSaver savings, you can choose to withdraw all your money in one go.

We retire at different ages and stages, so there isn't a blanket rule for how you should manage your money or what fund you should be in once you're 65. The best place to start is to look at your own situation, including your needs and goals. Being in the right KiwiSaver fund can make a big difference to the amount you have available to withdraw. Here are two things to consider when choosing a fund:

1. Your time horizon – which is when you'll need the money. If you don’t need the money for a long time and want to maximise your returns, a higher risk/return fund may be more suitable as you’ll have longer to recover from any fluctuations in your balance. If you need the money sooner, a lower risk/return fund might be more appropriate to ensure your balance remains relatively stable, minimising potential losses. 
2. Risk tolerance – which is how comfortable you are seeing your balance fluctuate as markets change. If you don’t like seeing your balance go up and down, a lower risk fund which is more stable but has lower returns might be more suitable. Our Cash and Conservative Funds offer lower but more predictable returns, so your savings should remain relatively stable.