BNZ KiwiSaver Scheme

Putting aside savings for your retirement is a big step towards being good with money. So we’ve made it as easy as possible with the BNZ KiwiSaver Scheme. Joining or transferring to the BNZ KiwiSaver Scheme is hassle-free and it’s simple to manage your account once it’s up and running.

Have you been automatically enrolled in the BNZ KiwiSaver Scheme?

If you’ve been automatically enrolled in the BNZ KiwiSaver Scheme by your employer or Inland Revenue, you can still decide how you want to manage your KiwiSaver account. Find out more

Why choose the BNZ KiwiSaver Scheme?

  • Convert your Fly Buys points^ and BNZ Advantage Cash Rewards into BNZ KiwiSaver Scheme contributions
  • Choose from six different funds to suit your saving and investment goals
  • Easily view and manage almost every aspect of your BNZ KiwiSaver Scheme account online through BNZ Internet Banking
  • By investing into underlying investment funds, we’re able to access the expertise of carefully selected investment managers in New Zealand and around the world
  • Our dedicated and specialised BNZ Authorised Financial Advisers are on hand to advise you whenever you need it
  • By choosing BNZ KiwiSaver Scheme as your employer–chosen KiwiSaver scheme, you’ll have access to our specialist resources for your business. More about KiwiSaver for employers

A fund for first home buyers

If you're planning to buy your first home in the next three to five years, and want to use your KiwiSaver account to help you save for it, our BNZ KiwiSaver Scheme First Home Buyer Fund may suit. Learn more about buying a home with KiwiSaverPDF 501KB

Convert Fly Buys points into BNZ KiwiSaver Scheme contributions

fly buys logo smallOver 2 million Fly Buys points have already been converted into BNZ KiwiSaver Scheme contributions.^

For 108 Fly Buys points you can give your BNZ KiwiSaver Scheme account a $20 boost.  Conversions must be in multiples of 108 Fly Buys points, with each bundle of 108 Fly Buys points being equal to a $20 contribution. Also: 

  • Contributions made with Fly Buys points can count towards your annual member tax credit^
  • You can convert Fly Buys points to your own BNZ KiwiSaver Scheme account or someone else’s
  • Any Fly Buys member can convert their Fly Buys points into contributions to your BNZ KiwiSaver Scheme account

It’s easy to convert Fly Buys points

Fly Buys points can be converted at the Fly Buys website.

All you need is:

  • your Fly Buys account number
  • the account number of the BNZ KiwiSaver Scheme account you want to contribute to
  • the name of the BNZ KiwiSaver Scheme member 

What kind of investor am I?

The BNZ KiwiSaver Scheme has six investment funds for you to choose from. Each fund invests your money differently and provides a different level of potential return depending on the amount of risk you are willing to take.

The funds that you can choose from are:

  • Cash Fund
  • First Home Buyer Fund
  • Conservative Fund
  • Moderate Fund
  • Balanced Fund
  • Growth Fund

We’ve created a simple tool to help you discover what kind of investor you are and which fund might suit you. It’s really important to be comfortable with your investment, so if the investor description doesn’t sound like you, read the other profiles and select the one that sounds right for you. Find out what kind of investor you are.

The information is of a general nature only and does not constitute personalised financial advice. While we have made every effort to ensure the information is accurate, you should not rely on this information to make any financial decision without first having sought advice from a financial adviser, or make an investment decision, without first having read all of the BNZ KiwiSaver Scheme Product Disclosure Statement.

Investment approach

For more information about how the BNZ KiwiSaver Scheme funds are invested, read BNZ KiwiSaver Scheme investment approach

Unit prices

Your investment in the BNZ KiwiSaver Scheme is measured in ‘units’ in the fund(s) that you choose to invest in. Your contributions to the Scheme buy units in the fund(s) you have selected at what is known as a ‘unit price’. Each unit represents a share of the fund assets.

Net balance

The net balance of your BNZ KiwiSaver Scheme account is the value of your account, at any specific date. This is based on the number of units you hold, multiplied by the unit price at that date.

Changes to the BNZ KiwiSaver Scheme — September 2016

The BNZ KiwiSaver Scheme transitioned into the Financial Markets Conduct Act 2013 (FMCA) regime on 5 September 2016 and the requirements of the FMCA apply to the Scheme from this date. Find out more about these changes

BNZ KiwiSaver Scheme Annual Report and Financial Statements




The first BNZ KiwiSaver Scheme Annual Report and Audited Financial Statements relate to the period 8 January 2013 to 31 March 2014.

Small Print

  1. Fly Buys Programme terms and conditions apply, visit for details and to convert points. It may take up to 16 days for your contributions to show in the member’s BNZ KiwiSaver Scheme account. Fly Buys points and redemption rates are subject to change without notice. BNZ (and its related companies) do not guarantee the collection or redemption of Fly Buys points.

  2. Since 17 June 2013.

  3. If you're over 18 (and below your Qualifying Age) the Government will (if you are otherwise eligible) contribute 50 cents for every dollar you put into your KiwiSaver scheme account each year (1 July to 30 June), up to a maximum of $521.43. It's called the Member Tax Credit (MTC). This means you have to contribute at least $1,042.86 each year and be eligible for the full year to maximise the credit available to you.

BNZ Investment Services Limited, a wholly owned subsidiary of BNZ, is the Issuer and Manager of the BNZ KiwiSaver Scheme. Download a copy of the BNZ KiwiSaver Scheme Product Disclosure Statement PDF 1.7MB, or pick up a copy from your local BNZ store.

Investments made in the BNZ KiwiSaver Scheme do not represent deposits or other liabilities of BNZ or any other member of the National Australia Bank Limited group, and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. None of BNZ, any other member of the National Australia Bank Limited group, the Supervisor, any director of any of them, the Crown or any other person guarantees (either fully or in part) the performance or returns of the BNZ KiwiSaver Scheme or the repayment of capital.

BNZ Authorised Financial Advisers' Disclosure Statements are available on request and free of charge.