FAQs

Why is my balance going down?

Some or a lot of your KiwiSaver money is invested in shares, in the financial markets. Shares are tiny slices of a company. The COVID-19 outbreak has caused the value of most global companies to decrease, as this happens so too does your KiwiSaver balance.

Has the government spent all my money?

No. Your KiwiSaver account is your account. It’s in your name so no one else can touch it.

All KiwiSaver providers are licensed by the Financial Markets Authority. Being licensed means they have met, and must continue to meet, minimum standards and are proactively supervised and monitored by the FMA; this is part of the terms of their licence.

All KiwiSaver providers also have a licensed supervisor. The licensed supervisor is there to ensure the KiwiSaver provider meets its legal obligations.

Has my money actually been lost?

The money that you put into KiwiSaver purchases units in the fund. We recalculate the value of these units daily based on the underlying companies that we invest in. If your KiwiSaver balance has reduced lately, that means the value of those units has gone down however you still hold the same number of units so any losses are locked in only if you withdraw your money over that time, or move it to a more conservative fund (read more about fund types here). Until then, it’s what experts call a ‘paper loss’.

Should I move my money into a more conservative fund?

If you're planning to use your KiwiSaver money in the next few years and thinking about switching due to the ups and downs, it might be a good idea to hold off for a while.

There could well be a bounce back in the market in the short term that could recover some of your losses.

If you plan to use your money in the next few months, for example a first-home deposit, you'll need to consider what feels right to you. Switching now will mean locking in any losses, but you can move forward with some certainty about what your balance will be when it comes time to settle.

You can also choose to stay in the growth fund, if you're in it already, but this could mean things get worse before they get better. And if you're relying on your KiwiSaver balance for the bulk of your deposit, this could affect the amount you are able to borrow for your mortgage.

Avoid changing your fund type because of ups and downs in the market. Think about your investment time frame, and make sure your fund reflects that.

If you are not sure what fund type is right for you, speak to your KiwiSaver provider or a financial adviser. Read our guide to fund types too.

What fund is best for me?

The best fund for your money is based on your investment time frame, and how comfortable you are with investing.

If you’re not planning to use your KiwiSaver money for at least 10 years, a growth fund could be best for you. But if you need your money sooner, a balanced or conservative fund might be better.

Also, if seeing ups and downs in your balance makes you feel nervous and stressed-out, a growth fund might not be suited to you.

If you’re not sure what fund type is right for you, speak to your KiwiSaver provider or a financial adviser. Read our guide to fund types too.

Can I take money out of my KiwiSaver account?

You can take your money out of KiwiSaver only for a first-home deposit or when you turn 65. You might be able to take your money out of KiwiSaver if you’re suffering from significant financial hardship or severe illness. If this is the case, speak to your KiwiSaver provider, they’ll be able to help you with this process.

Should I stop putting money in or reduce my contributions?

It’s best you keep up your same regular KiwiSaver payments, provided you’re still able to financially. Keeping up your same contributions will mean you’ll benefit from the bounce back, when it happens.

If you’re experiencing serious financial hardship or your job is at serious risk, you might look at reducing your KiwiSaver contributions for a while, and putting that extra money into an emergency fund. Speak to your KiwiSaver provider or a financial adviser, who can help you based on your personal situation.

Should I put more money in to take advantage of lower share prices?

You might have heard that ‘shares are on sale’ and to buy up, or contribute to your KiwiSaver account with any spare money you have. This is partly true, but there are some things to consider. Firstly, shares might have not reached their lowest price yet – it’s really hard to tell when they do. You could buy shares today and have them drop further.

Also, consider your job and income security. Once your money is put into KiwiSaver, it’s hard to get it out again. If your job’s at risk, it might be best to keep contributing the same amount to your KiwiSaver, rather than increasing.

When will the markets pick up?

This is impossible to predict because it depends on many factors, like how long the Coronavirus outbreak continues for, and its impact on economies. But what we know from previous market dips is that markets will eventually recover. It might take several years, even 10 years, but history shows they will eventually pick up again.

How can I reduce my stress about my KiwiSaver balance?

Most of us don’t like seeing our KiwiSaver balances drop. Many balances have dropped dramatically, over a short period, and it’s not a nice feeling. It’s a good idea not to check your KiwiSaver balance too often. Once every few months is a good idea. Avoid checking it every day, as it could add to the stress of it.

It could also be a good idea to limit your conversations with others, and reading about market drops. Reading about things like a recession, shares falling, and commentary and predictions can sometimes add to your stress about your investments.

How do I sign my kids up?

It’s easy to sign your kids up. All you need is:

Your child's ID in the form of a passport, driver’s licence or birth certificate.

For children 16 or 17, one of their parent(s) or guardian(s) will also be required to complete the online application and verify their identity.

For children aged 15 and under, both their parents or guardians will be required to complete the online application and verify their identity.

Your child will also need to have an IRD number. Get an IRD number here.

If you’re having trouble, just contact us.

I’m a solo parent. Can I still sign my kids up?

Yes, you can sign your kids up. You might be contacted later by our customer service team, who might need more information.

How do kids grow their KiwiSaver balances when they aren’t working?

A KiwiSaver account is an investment. This means your money should get returns over the long term, based on how much money is in the account.

Parents, grandparents, family members and friends can easily deposit money into the child’s account if they want. Just use the online portal to view the details for making a deposit. Or contact us if you need help.

Do kids get the government contribution?

Unfortunately, KiwiSaver members who are under 18 don’t get the government contribution, no matter how much money is in their account.

Once they are 18, if they earn at least NZ$34,762 (before tax) and contribute the minimum of 3 per cent of their salary into KiwiSaver, they’ll automatically qualify for the government contribution.

For every dollar you contribute from July one year to June the next, the government will pay you 50 cents, up to a total of NZ$521.43.

What is a Market Index?

A market index is a metric that can help track performance. A market index contains similar assets and has similar risk to the JUNO funds, and so is a good reference point for judging performance. Every fund type is made up of a different mix of asset types.

Each asset type (equities, fixed income and cash) in each fund has a market index. So, the market index figures shown combine two or more market indices, depending on the assets in the fund. For example, the JUNO Growth Fund combines market indices for equities and cash. Finally, the combination of market indices for each fund is weighted according to its target asset mix.

For example, the market index return for the JUNO Growth Fund is 80% the return of the market index for equities and 20% the return of the market index for cash. More information about the JUNO KiwiSaver Scheme market indices can be found in the Statement of Investment Policy and Objectives (SIPO).

How do returns and fees affect my balance?

We’ve created an example below to show you the impact of fees and returns on your KiwiSaver balance.

On November 30 Emma had a balance of $20,000 in the JUNO Balanced Fund. She made no contributions or withdrawals during the month. Emma has advised us that her PIR is 28%.

Emma’s balance on December 31 was $20,311

Investment returns: $316.00
Fees: $5.00

How do I withdraw money for my first home?

If you’ve been in KiwiSaver for three years and you’re buying your first home to live in (not rent out), you might be able to withdraw some of your money.

You may be able to withdraw the current value of your contributions, your employer’s contributions, return on investments, and any Government Contributions. But you’ll need to leave a minimum balance of $1,000 in your account (as well as any Australian sourced superannuation)

You’ll need to contact us directly by phone or email to discuss your situations before you make any home purchase.

You may also be able to get a KiwiSaver First Home grant.

For more information on the KiwiSaver First Home grant go to https://kaingaora.govt.nz/

I’ve owned a home before, can I still use my KiwiSaver to purchase my next home?

If you’ve owned a home before, in some circumstances you may still be eligible to withdraw your savings to buy your home. Kainga Ora (formerly Housing NZ) will need to determine that you’re in the same financial position as a first-home buyer. Visit https://kaingaora.govt.nz/ for contact details.

I moved to Australia permanently. Can I transfer my KiwiSaver money?

If you’ve moved to Australia, you have the choice to either keep your KiwiSaver with a New Zealand provider or transfer your KiwiSaver savings to an Australian complying scheme regulated by the Australian Prudential Regulation Authority (APRA). You should check with your Australian provider first, as accepting KiwiSaver transfers is voluntary and not all Australian funds have opted to participate in the Trans-Tasman portability arrangements.

If you choose to transfer, you must transfer all of your KiwiSaver savings to Australia and you can do this at any time (there is no one-year stand-down).

You can transfer all of your savings in your KiwiSaver account, including Government Contributions and the $1,000 kick-start (if you were eligible).

Funds transferred to Australia are not eligible for a first-home purchase withdrawal.

You may not be able to access these funds until the New Zealand age of retirement.

If you choose to keep your KiwiSaver with a New Zealand provider, you won’t be eligible for the Government Contributions.

If you decide to return to New Zealand, you can re-join KiwiSaver, if you’re eligible.

I have moved overseas permanently. Can I withdraw my KiwiSaver money?

If you’ve moved overseas permanently (other than to Australia), after a year, you’re able to withdraw your money.

You may be able to withdraw your contributions, your employer’s contributions and the $1,000 kick-start (if you were eligible).

You won’t be able to withdraw any Government Contributions.

You’ll need to give us a statutory declaration stating you have permanently emigrated from New Zealand, provide evidence that you have departed (for example, your passport records), and lived at an overseas address at some time during the year after your departure.

If you decide to return to New Zealand, you can re-join KiwiSaver if you’re eligible.

Can I stop contributing to KiwiSaver?

You can apply to IRD for a Savings Suspension – in most cases you will need to have been a member of KiwiSaver for at least 12 months.

Stopping contributions for a time is easy, but remember, it will cut down how much you’ll have for retirement.

You can put your contributions on hold for between three months and one year, if you really need to. Once your Savings Suspension has expired you will need to apply to IRD to have it extended.

Over that time, you won’t get government or employer contributions. You can restart at any time by asking your employer to start putting the money into your KiwiSaver account again.

What happens when I’m 65?

KiwiSaver is an investment to help fund your retirement, so you can withdraw your money when you turn 65 or make regular automatic withdrawals from your account from that age.

You don’t have to take out your money when you turn 65. You can leave some, or all, of your balance invested. But you won’t get the government money. Your employer doesn’t have to pay either, but they might offer to. What’s important to remember is that your investment could keep growing from interest.

Your balance could be a lot of money, and funding your retirement is important – the money you have saved is a big part (or perhaps the only part) of your post-work income. So, you may want or need some help with what to do with your savings.

We’ll be in touch with you before you’re 65, to find out if you want any help.

What is my JUNO investor number?

To find your JUNO investor number, log into JUNO and you’ll see your investor number next to your name. It will start JKS, followed by 5 digits, like this: JKS11111. Or call us on 0800 JUNO KS to find it out.

I’ve forgotten my password to the JUNO KiwiSaver Scheme

No worries. Go to our login page and click ‘Forgot password’. You’ll get an email with a link to update your password.

If you have any problems, feel free to contact us by phoning 0800 JUNO KS or email info@junokiwisaver.co.nz

What is a Government Contribution? And how do I get it?

You can receive an extra $521.43 a year from the government to go towards your KiwiSaver balance.

For every $1 you put in, the government gives you another 50 cents, up to a maximum of $521.43 a year. To get the government money, you need to put in at least $1,042.86 a year. That’s just over $20 a week!

To receive the Government Contribution you must be over 18. You also need to be living in New Zealand, unless you’re a government employee, working as a volunteer for a charitable organisation, or your job meets one or more of the requirements of the Student Loan Scheme Act 2011.

The government will stop contributions for the Government Contribution when you reach the age for NZ Super (currently 65).

Just a note, the Government Contribution used to be called a Member Tax Credit (MTC) until recently.

How do I change my contribution percentage?

You can change the amount you put into your KiwiSaver account easily, but only once every three months. Just let your employer know by completing the IRD KiwiSaver deduction form.

How do I change funds once I'm a JUNO member?

If you’re a member of the JUNO KiwiSaver Scheme, you can change the fund you’re in within the members area. Simply login and click ‘Change fund’ and follow the steps.

How can I check my balance?

It’s a good idea to check your KiwiSaver account regularly, or at least once a year.

If you’re with the JUNO KiwiSaver Scheme you can check your balance online by logging in. Our online members area allows you to track your balance, see performance, switch funds and make voluntary contributions on any device.

Do I pay less if my balance decreases?

Yes, our fee structure means this can happen. Your fees are based on your balance and if it moves down – or, hopefully, up – enough, you’ll pay a lower or higher fee, if you enter a new fee range.

However, whatever your balance, the fee is low relative to that balance and low compared to what other KiwiSaver providers charge for the same balance.

If my balance increases from $24,999 to $25,000, my monthly fee triples. Why is that?

While the ‘step’ in fees might seem large, the overall fee remains low relative to your balance, and low compared to what other KiwiSaver providers charge for the same balance.

We have more costs to pay when we’re looking after larger amounts of money, so we do have to charge more for larger balances. We’ve tried to make the ranges large enough that shifting up a fee level should take some time for most people.

We also think it’s important that our fee structure means you know exactly what you’ll be charged, and when, down to the month, for your JUNO KiwiSaver Scheme investment.

What is my PIR rate?

You pay tax on the money you earn from your KiwiSaver investment. The IRD calls the tax rate you pay a ‘PIR’, which is short for ‘prescribed investor rate’.

In either of the last two income tax years, was your taxable income $14,000 or less and your total income (including PIE income) $48,000 or less? Then, your PIR is 10.5%.

In either of the last two income tax years, was your taxable income 48,000 or less and your total income (including PIE income) $70,000 or less? Then, your PIR is 17.5%.

In all other cases, your PIR is 28%.

You’re required to update your PIR rate, as it changes, with the IRD. To update your PIR, you can inform us, or inform the IRD directly.

For more information, please see the IRD website on PIR rates here.

How can I get my IRD number?

You can find your IRD number

in your myIR Secure Online Services
In your current KiwiSaver statement or online account
By calling IRD on 0800 775 247.

Or apply for an IRD number today.

Does JUNO invest my money in an ethical way?

We take Environmental, Social and Governance (ESG) factors into account when we invest.

We don’t invest in companies involved in controversial weapons like cluster munitions; tobacco; firearms; gambling or nuclear explosive devices. We don’t, however, claim to be ‘ethical’. ‘Ethics’ are defined as personal beliefs and it’s very unlikely we could invest in line with all of our members’ ethics.

You can read our ESG policy here.

How do I sign my kids up?

The JUNO KiwiSaver Scheme has zero fees for kids under 18. This is a great way to set your children up for future success. See more here.

What do you need?

• Your child's ID in the form of a passport, driver’s licence or birth certificate.

• For children 16 or 17, one of their parent(s) or guardian(s) will also be required to complete the online application and verify their identity.

• For children aged 15 and under, both their parents or guardians will be required to complete the online application and verify their identity.

• Your child will also need to have an IRD number. Get an IRD number here.

How much will I pay in fees?

The JUNO KiwiSaver Scheme has an industry-first fee structure. You’ll only pay one, low monthly fee based on your balance. No more hidden percentage fees eating away at your savings and KiwiSaver goals.

To learn more about our pricing, and compare it to what you currently might be paying, click here.

What fund should I choose?

Choosing what fund your money is invested in is an important decision and will affect how much money you’ll have in retirement.

• The more time you have to invest, the better off you’re likely to be selecting a higher-risk fund.

• But if you need your money sooner, or perhaps you’re not very comfortable with investing, you’re safer in a low-risk fund.

If you need help, check out our simple guide to funds.

How safe is my money with JUNO?

Your KiwiSaver investment will be looked after by experienced and qualified fund managers at Pie Funds Management. We’re a registered KiwiSaver provider helping to protect your savings and working hard to grow them.

However, the money is not physically at Pie Funds. It’s held by a custodian who makes the investments on instruction from Pie Funds.

Can I switch my existing KiwiSaver account to JUNO?

Yes. Switching to JUNO is an easy online process and should only take a couple of minutes.

Once you’ve completed the online application, we manage the process of transferring your KiwiSaver balance across to JUNO. This can take up to 35 days.

Are you ready to switch? Click here

Make sure you know your IRD number and have a photo ID handy, such as your passport or driver’s licence. You'll also need a proof of address document, for example a bank statement or a utility bill.

Is KiwiSaver right for me?

Generally, yes. Everyone benefits from getting help to save for their retirement or buying their first home. And if you’re in KiwiSaver, your employer and the government also contribute to your account, giving your savings a boost. But not everyone has the same ability to put money into KiwiSaver, so read the section on how much you should put in.

How can I join JUNO KiwiSaver?

Joining the JUNO KiwiSaver Scheme is an easy online process and should only take a couple of minutes.

If you’re a Kiwi or permanent resident you can join, but you don’t have to sign up unless you want to.

Are you ready to join? Click here

Make sure you know your IRD number and have a photo ID, such as your passport or driver's licence on hand. You'll also need a proof of address document, for example a bank statement or a utility bill.

I’ve heard about the Government $1,000 kick-start payment, will I qualify for this?

If you joined KiwiSaver before 2pm on 21 May 2015, the Government will have given you a tax-free $1,000 kick-start for your account.

New members are no longer eligible for the Government kick-start payment.

Why do fees differ between KiwiSaver providers?

Fees always reduce your return, so there must be a good reason to pay higher fees. The best reason is that you’re regularly getting great returns. But you might also be happy to pay higher fees because you’re getting top service.

It’s important to find out what you’re paying and understand why you’re paying the fees you’re paying. It might be completely fair, or you may be getting ripped off!

What is KiwiSaver?

KiwiSaver is an investment scheme that can help you save for retirement and can also be used to help you buy your first home. Your KiwiSaver balance is made up of contributions from your salary, your employer’s contributions, and government contributions – provided you’re contributing enough.

How does KiwiSaver work?

Your KiwiSaver account is an investment, maybe your first, and it usually starts when you get your first job. Then you can start contributing from your pay packet. After many years of saving, you’ll be able to use that money to help you live when you finish work.

How much should I put in?

The more you put into your KiwiSaver account, the faster your balance should grow and the less you should need to rely on returns. But think about:

• What can you afford to lose from your pay packet?

• Does it make sense to pay off your debts first? Can you do both?

• Will it work if that money isn’t accessible? Do you have enough money set aside that can be used in an emergency?

You can contribute 3%, 4%, 6%, 8% or 10% of your pay. If you want to, you can also make extra deposits if you have spare cash.

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