ANZ KiwiSaver

Outstanding Value Award Winner

ANZ is one of the largest banks in New Zealand, offering bank accounts, credit cards, insurance, loans, savings accounts and investments.

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If you’re considering opening a KiwiSaver fund with ANZ, check out Canstar’s latest Star Ratings for its products. The following table is a snapshot of ANZ KiwiSaver products for a Balanced fund with a $50k balance:

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Types of ANZ KiwiSaver funds

ANZ offers six different KiwiSaver funds, each targeted to the needs of different life stages. The funds contain varying mixes of Income assets, such as cash and fixed-interest bonds, and Growth assets such as real estate and equities. The key stats for each fund option are as follows:

Fund Typical Age Asset Allocation Annual Fee
Growth Under 35 80% Growth, 20% Income 1.13%
Balanced Growth 36 – 45 65% Growth, 35% Income 1.08%
Balanced 46 – 55 50% Growth, 50% Income 1.03%
Conservative Balanced 56 – 60 35% Growth, 65% Income 0.98%
Conservative 61 – 64 20% Growth, 80% Income 0.98%
Cash 65 + 100% Income (Cash) 0.44%

Your KiwiSaver account also incurs a membership fee of $2 per month, which is deducted from your account with the highest current balance.

Eligibility to open an ANZ KiwiSaver account

You are eligible to join the KiwiSaver scheme if you are:

  • Younger than the qualifying age for New Zealand superannuation (currently age 65)
  • Over the age of 18
  • Living or normally living in New Zealand
  • A New Zealand citizen, or entitled to live in New Zealand indefinitely

How to open an ANZ KiwiSaver account

If you’d like to open a new ANZ KiwiSaver account, you can apply online on the ANZ website, or call ANZ on 0800 736 034 during business hours from Monday to Friday.

ANZ KiwiSaver FAQs

Yes. You can log in to your ANZ account using the link on the ANZ website, where you can manage your investment portfolio, monitor your balance, invest money or apply for a withdrawal.

Your money is invested using the six different investment portfolios outlined above. You can either choose a fund yourself, or pick ANZ’s Lifetime option which automatically reallocates your investments to different funds as you get older.

Since KiwiSaver is an initiative of the New Zealand Government, your funds are held by the New Zealand Guardian Trust Company (a government-owned company) on your behalf. ANZ functions as the administration manager and investment advisor for your KiwiSaver fund.

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You can transfer all of your existing KiwiSaver balance into your new ANZ account. Once you open an ANZ KiwiSaver account, ANZ will automatically transfer your balance from your old provider to your new account. Your old scheme provider may charge you a transfer fee – contact your previous provider for further information.

The main purpose of the KiwiSaver scheme is to save for retirement, so you are able to withdraw money once you reach the KiwiSaver retirement age of 65 years. There are also several circumstances when you can withdraw money earlier, which are:

  • Buying your first home
  • Permanently moving to another country
  • Experiencing or are likely to experience significant financial hardship
  • Having a serious illness or injury

Australia and New Zealand (ANZ) Bank is one of the largest financial institutions in New Zealand, and a major part of the nation’s economy. Nearly half of all Kiwis use services provided by ANZ brands, and nearly 20% of all employees in the finance sector work for ANZ – around 9,000 people. The company finances roughly a third of all homes in New Zealand, and accounts for roughly 1% of the nation’s economy just by itself.

ANZ’s size also means a large degree of corporate responsibility and activity in local communities. The company’s volunteering program saw over 16,000 hours of employee volunteering in 2016-17, and the company commits sponsorship funding to several major organisations, including NZ Cricket, Premiership Netball, the NZ Olympic Committee and the Cancer Society’s Daffodil Day.

ANZ also has comprehensive sustainability policies to reduce its carbon and environmental footprint, in both its everyday operations and supply chain. The bank reduced its Australian carbon emissions by 17% in 2016, and provided more than $2.5 billion in finance to sustainable energy production.

ANZ KiwiSaver Scheme - Cash Fund

Canstar Research
Award: 5 Star Rating KiwiSaver Fund

Written by: Sam Bloom | Last updated: April 16, 2018