KiwiSaver options from age 65

When you turn 65, you can choose to withdraw your BNZ KiwiSaver Scheme savings, continue growing your investment, or do a bit of both.

Continue growing your savings

Your KiwiSaver account is there to support you throughout your retirement. If you choose to continue saving, here are a few things that can help.

Review your current fund

When you reach 65, it’s important to review your fund choice to make sure you grow your savings to meet your needs when you decide to retire. Use our guide to work out whether another fund might be better suited for the future.

Read our guide to KiwiSaver funds

Withdrawing your funds

You can withdraw some or all of your KiwiSaver savings at any time after you turn 65 (the eligible age for New Zealand Superannuation). All withdrawals are tax-free. Once you reach 65, Government contributions will stop and your employer can also stop their contributions.

Regular withdrawals

This is a convenient way to manage your money and supplement any other income. You can choose an amount and a payment frequency that works best for you, subject to the minimum withdrawal amounts.

Lump sum withdrawals

Keep your money working hard in a BNZ KiwiSaver Scheme account and use it to meet any one-off expenses by making withdrawals as and when you need to.

Full withdrawal

You can withdraw all your savings including the Government contributions in one go. If you choose this option, we’ll close your BNZ KiwiSaver Scheme account after transferring the full amount to you.

How to withdraw your funds

1. Fill in the BNZ KiwiSaver Scheme retirement withdrawal application form (PDF 132KB).

2. Take the form to a Justice of the Peace, solicitor of the High Court of New Zealand, notary public, or another person authorised to complete the statutory declaration section of the form.

3. Drop the completed form into any BNZ branch or post it to:

Freepost BNZ KiwiSaver Scheme
Private Bag 92208
Auckland 1142
New Zealand

Once we receive your completed form, it can take up to 15 business days to process and deposit the funds into your nominated account.

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