As we reach retirement, financial stability becomes a focal point of our planning. For many Kiwis, KiwiSaver has been the silent partner throughout their working life, building a nest egg for the golden years. But what happens with KiwiSaver after the age of 65? How do you optimise this resource when you need it most?

Continuing Contributions

Even beyond the age of 65, the option to add to your KiwiSaver remains open. Although you no longer receive government contributions at this stage, if you’re employed, your employer might still contribute to your fund. It’s worth discussing with your employer, as continued contributions can significantly enhance the growth of your retirement savings.

Strategic Withdrawals

Once you stop working, the way you interact with your KiwiSaver changes. It’s not just about accumulation; it’s about strategic withdrawal. Should you make regular small withdrawals to complement your New Zealand superannuation? Perhaps a partial withdrawal to pay off a debt or invest in a reliable car? Or even a full withdrawal to clear a mortgage? These decisions should be tailored to your personal circumstances and retirement goals.

Aligning with Retirement Goals

When you begin to draw from your KiwiSaver account, it’s important to think about how this fits with your overall retirement plan. Your KiwiSaver is one piece of the puzzle, complementing other income streams such as New Zealand Superannuation, other savings, or part-time work. The idea is to have a balanced mix of income that provides stability and reliability.


As you transition to a potentially more conservative investment approach with KiwiSaver, it should be with the intention of receiving a steady flow of income that helps cover daily expenses and maintain your lifestyle without eating into your principal too quickly. Getting to know how to use your KiwiSaver effectively is key to really making the most of your later years.


Emergency Planning

KiwiSaver can also serve as an emergency fund. Ad hoc partial withdrawals are possible for unforeseen expenses like a major home appliance breaking down or even a dream holiday. If you’ve had a significant emergency and need to do a full withdrawal, this typically takes between 10 to 15 working days, depending on the provider and the circumstances of the withdrawal.


Debt Management

Heading into retirement debt-free is the best scenario; however, if you find yourself with outstanding debts, your KiwiSaver funds could be a resource to help reduce this financial load. It’s beneficial to tackle any debts before retiring to avoid the stress of repayments when your regular income may decrease.


Seeking Financial Advice

As you navigate these options, seeking personalised financial advice is essential. A professional can help you align your KiwiSaver with your retirement plans, ensuring you maximise this vital asset.


In conclusion, KiwiSaver after 65 is not a one-size-fits-all scenario. It requires a strategic approach that considers continued contributions, withdrawal strategies, investment management, emergency planning, and debt management. With the right advice and planning, your KiwiSaver can effectively support your retirement, allowing you to enjoy the lifestyle you’ve worked so hard to achieve.