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Thread ID: 140198	2015-09-02 05:40:00	Do you have KiwiSaver?	Ninjabear (2948)	PC World Chat

Post ID	Timestamp	Content	User
1407802	2015-09-02 05:40:00	I'm thinking of joining it but then there's so many providers and I don't know which ones the best? I heard that banks don't generally look after your money if you joined them meaning they don't really care how you invest using your kiwisaver On the other hand a provider called me and wanted me to join them.. From what I know of is that you pick a provider and then you pick an investment package from a list which the provider give, Low risk, moderate , or high risk. After which you just keep checking your kiwisaver investment and you are welcome to join a different investment company for your kiwisaver if that company doesn't perform well. Is this how it works?	Ninjabear (2948)
1407803	2015-09-02 06:20:00	Basically right. Go for it, you will appreciate the savings one day that's for sure. Are you working? Talk to your employer. Otherwise just talk to your bank after doing a bit of research. I am well retired so can't join up, but I have encouraged all my family to join and have even opened accounts for grandchildren who are still in nappies. Yep, go for it.	Richard (739)
1407804	2015-09-02 06:41:00	why do you think a bank doesn't care about you as a customer and "don't generally look after your money"?	nmercer (3899)
1407805	2015-09-02 06:54:00	why do you think a bank doesn't care about you as a customer and "don't generally look after your money"? I could give a real good example of that. But it would be hijacking the thread. As for Kiwi saver - yep, you have some options, the low risk is basically just a saving, where as the high risk, while it has the chance to get higher returns it can also lose a lot as well. Best to talk to your bank or who ever you go with and get them to fully explain. If you are employed your employer also contributes to the saver, there are certain percentages, if self employed you can set the amount. I know National were removing the $1000 kick-start as of 2pm on 21 May 2015.	wainuitech (129)
1407806	2015-09-02 07:16:00	Joined straight away, used it to buy first house.	plod (107)
1407807	2015-09-02 07:32:00	why do you think a bank doesn't care about you as a customer and "don't generally look after your money"? Because banks usually earn money and wanting your profit from bank charges and interest. Kiwi saver earns them little profit so why waste the time so lets just put everyone on low risk. Thats what I got told by a provider	Ninjabear (2948)
1407808	2015-09-02 07:46:00	Been in since it started, no brainer. If your young there probably won't be an old age pension for you except Kiwisaver. Oh they make plenty from Kiwisaver don't worry about that otherwise they wouldn't offer it.	gary67 (56)
1407809	2015-09-02 09:20:00	I'm a bit too old to join it now. But i think for todays young ones starting worek in theri twenties etc it will be great for them when they retire as they will have a nci elittle nest egg. You wll be amazed how much money you need just for a few luxuries. Eg do the maths. If you have 10 grand in the bank that will earn you about $6 a week in interest after tax. So you would be able to buy a bottle of beer each week.	Digby (677)
1407810	2015-09-02 09:55:00	I've been in it 5 years since I got this job , contributing the standard amount and just with the default westpac option and it's up to $30k. I think it's worth it. Once I pay my house off I intend to increase it.	dugimodo (138)
1407811	2015-09-02 10:56:00	due to changes in work i'm also looking at this, with the possibility of opting out of kiwisaver. to me i would rather have the money go to paying off the mortgage. it makes sense to reduce debt before saving. just trying to do some sums at the moment, without the govt tax credit you would loose money putting it into kiwisaver instead of the mortage. even with the tax credit its +/- a grand or two.	tweak'e (69)
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