
Making the most of your KiwiSaver savings after 65
Turning 65 is an important milestone, not just in life but also in your financial journey. For Christian KiwiSaver Scheme members, it marks the point where you can access your retirement savings. However, this doesn’t mean your KiwiSaver membership has to come to an end.
Many members choose to keep their accounts open beyond 65, continuing to manage their savings in a way that aligns with their long-term financial needs. At Anglican Financial Care, we know that planning for retirement is personal, which is why we send a letter to our Christian KiwiSaver Scheme members the month before they turn 65. This is an opportunity to start the conversation about your options, ensuring you have the information you need to make decisions that are right for you.
Here are the options available to you once you reach 65:
Keeping your account open
Reaching 65 does not mean you have to close your Christian KiwiSaver Scheme account. Many of our members choose to keep their funds invested beyond this age, giving them the flexibility to access their savings when needed while continuing to benefit from our faith-aligned investment approach.
Keeping your account open also allows you to continue adding to your savings, should you wish to do so. If you’re still working, you can continue your contributions to grow your balance further.
Making regular withdrawals
If you would like to supplement your retirement income while keeping your remaining savings invested, you can set up regular fortnightly or monthly withdrawals from your Christian KiwiSaver Scheme account. This option allows you to access your money gradually, while your remaining balance continues to work for you.
- A $200 minimum applies to each regular withdrawal.
- The minimum withdrawal amount may change in the future.
This approach can provide a steady stream of money while maintaining long-term investment potential.
Occasional one-off withdrawals
If you prefer more flexibility, you can make one-off withdrawals when needed. This option allows you to leave your savings invested while accessing funds at times when you need them – whether it’s for an unexpected expense, a special occasion, or a larger financial commitment.
- A $1,000 minimum applies to each one-off withdrawal.
This option gives you the ability to manage your savings in a way that fits your lifestyle and financial needs.
Full withdrawal
If you decide to take out all of your savings, you can make a full withdrawal from your Christian KiwiSaver Scheme account. This means you will no longer be a member of KiwiSaver.
While some members choose this option, others prefer to leave their funds invested, ensuring they can access their savings gradually over time.
Making the right decision for you
Only you can decide how to manage your KiwiSaver savings after 65. Whether you continue investing, make partial withdrawals, or withdraw your full balance, it’s reassuring to know that Christian KiwiSaver Scheme gives you flexibility in managing your retirement funds.
As you approach this important milestone, we’re here to help. Our team at Anglican Financial Care is committed to supporting you in making informed decisions that align with your needs. If you have any questions about your options, don’t hesitate to get in touch.
Christian KiwiSaver Scheme is managed and issued by The New Zealand Anglican Church Pension Board (trading as Anglican Financial Care). The Product Disclosure Statement can be found here Documents | Christian KiwiSaver Scheme.