Rebuilding KiwiSaver after buying your first home

26 February 2025

Tips to get your retirement savings back on track.

New home, next steps

Buying your first home is a huge milestone. Like thousands of Kiwis, there’s a good chance you used your KiwiSaver savings to help with the purchase. But with that now ticked off your bucket list, it’s easy to put your KiwiSaver into the too hard, let’s think about it another day basket – especially when retirement feels like it’s decades away. 

Don’t make that mistake. Once your house and mortgage payments are sorted, it’s important to get into the habit of making steady contributions to rebuild your retirement savings. The earlier that begins, the better you’re able to take advantage of compounding returns over time. 

Here are three important things to consider to get you on the right track.

1. Set goals and regrow your savings

You’re in – the place is yours to call home and your goal of buying a home is officially achieved. It’s time to set new KiwiSaver goals – namely, saving for retirement. We may not always be able to rely on NZ Super – that it will be enough, or there at all, so having a plan for your savings can help ensure you have a comfortable nest egg.

Here are some ways to build your savings back up:

  • Increase your employee contributions: If you can afford to, consider increasing your regular contributions. A good time to do it is if you get a pay rise at work – that way you may not even notice it. Even a small increase – say, from 3% to 4% - can make a big difference over time.
  • Make voluntary contributions: Made some extra cash from your side hustle? You can pay additional lump-sum or regular voluntary contributions into your KiwiSaver account anytime. This is especially useful if you’re self-employed.

By taking these steps, you'll be well on your way to regrowing your KiwiSaver savings and setting yourself up for a comfortable retirement.

2. Maximise the benefits

Saving for your retirement is a journey, and every little bit counts. With that in mind, make sure you’re taking advantage of employer and Government contributions. 


Employer contributions

If you're employed, your employer is required to contribute at least 3% of your pre-tax salary or wages to your KiwiSaver account. Make sure you're taking full advantage of this by contributing at least 3% yourself. Even after tax, that’s still nearly a 100% return on your contribution - you’re unlikely to get that kind of return with any other investment. 

Also check to see if your employer offers a higher match – for example, some employers offer to contribute 4% or higher if you do the same.


Government contributions

The Government contributes 50 cents for every dollar you put in, up to a maximum of $521.43 each year. To get the full amount, you need to contribute $1,042.86 by the end of June. 

If you're not on track to meet this amount, consider setting up a regular automatic payment. Just $21 a week (or $87 a month) can ensure you receive the full Government contribution. Keep tabs on how you’re tracking to receive the maximum amount in ANZ goMoney or Internet Banking.

3. Check you’re in the right fund

Being in the right KiwiSaver fund for your circumstances is crucial for growing your savings. Even a small increase in the average annual return on your savings over many years can make a big difference to the amount of money you have when you retire. It’s important to check whether you’re still in the right fund for you. The fund that was best for buying your first home might not be suitable now that you’re settled in.

For example, you might have had your KiwiSaver savings in a lower risk fund so that you had more certainty about the amount you could withdraw for your home. But now that you’re saving for retirement, a higher risk fund might make more sense. That's because higher risk funds like our Growth or High Growth Funds will generally provide higher returns over the long term. There’s also a good chance you  now have a longer investment timeframe and the ability to ride out any ups and downs in your balance along the way.

Important information

ANZ New Zealand Investments Limited ('ANZ Investments') is the issuer and manager of the ANZ KiwiSaver Scheme. Download the guide and product disclosure statement from our documents and forms page or ask at any branch.

ANZ Investments is the issuer and manager of the ANZ Default KiwiSaver Scheme. The scheme is no longer a default scheme and is closed to new members. Important information about the ANZ Default KiwiSaver Scheme is available at Documents and forms and by searching ‘ANZ Default KiwiSaver Scheme’ on the offer register at disclose-register.companiesoffice.govt.nz.

ANZ Investments is not an authorised deposit taking institution (ADI) under Australian law and investments in the ANZ KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme (together, the 'schemes') aren’t deposits in or liabilities of ANZ Bank New Zealand Limited, Australia and New Zealand Banking Group Limited, or their subsidiaries (together ‘ANZ Group’). ANZ Group doesn’t stand behind or guarantee ANZ Investments. Investments in the schemes are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group won’t be liable to you for the capital value or performance of your investment.

Past performance does not indicate future performance. The actual performance any given investor realises will depend on many things, is not guaranteed and may be negative as well as positive.

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 736 034, or for more information about ANZ’s financial advice service, see our financial advice provider disclosure statement (PDF 39.9KB).