What is KiwiSaver?

KiwiSaver is a Government initiative that provides incentives for eligible New Zealanders, including government contributions and employer contributions, aimed at helping you save for retirement.

You can join KiwiSaver if you are:

  • a New Zealand citizen, or entitled to live in New Zealand indefinitely, and
  • living or normally living in New Zealand (with some exceptions).

You are unable to join the Scheme if you are:

  • holding a temporary, visitor, work or student permit,
  • living overseas, unless you're a government employee:
    • serving outside New Zealand, and      
    • employed on New Zealand terms and conditions, and
    • serving in a jurisdiction where offers of KiwiSaver scheme membership are lawful.

If you are employed you can contribute 3%, 4%, 6%, 8% or 10% of your before tax salary or wages. The rate is nominated by you. The default rate is 3% if you do not choose a rate. You can change the rate at which you contribute to the Scheme. You can also take a ‘savings suspension’. 

If you are self-employed (and don’t pay PAYE), aged over 65, or a non-worker you can decide how much you contribute into KiwiSaver.

In most cases your employer will be required to contribute as well (minimum 3% of your gross salary or wages).

If you are Employed

If you are 18 or over and under age 65, you will automatically be enrolled in KiwiSaver when you start a new job. Your employer will deduct contributions from your pay, unless you decide to opt out. You can do this within a certain timeframe and your contributions will be refunded.

If you are already in a job, you can join through your employer by asking for a KiwiSaver employee information pack (KS3) and completing a KiwiSaver deduction form (KS2). You can also join directly with the KiwiSaver provider of your choice by reading their Product Disclosure Statement and completing the application form. When you have been a member for 12 months or more you can take a break from making KiwiSaver contributions (a saving suspension). Your saving suspension can last between 3 months and 5 years. There is no limit to the number of times you can take a saving suspension.

If you are Self-employed/ Non-employed

As someone who is self-employed you can make payments directly to your KiwiSaver provider.

You can decide when and how much you want to contribute. If you meet the eligibility criteria you may want to contribute at least $1,042.86 each year (1 July to 30 June) to ensure you take advantage of the maximum government contributions. This is currently up to $521.43 per year. To read more about government contributions please read the Other Material Information.

As a self-employed person you are not eligible for the employer contribution (since you are your own employer).


You can join KiwiSaver even if you are not employed. To ensure you receive the maximum government contributions you will need to contribute a minimum of $1042.86 each year. The Government will then give you a tax credit of 50 cents for every dollar you contribute (up to $521.43) per year if you meet the eligibility criteria.

Under 18

Enrol your children into KiwiSaver as this is a great way to start saving for their future.

As a minor and non-working, there are no requirements around an initial contribution or minimum annual contribution. However, a working minor must make KiwiSaver employee contributions, until they are eligible for a saving suspension. Employers are not required to make compulsory employer contributions on behalf of a minor. You can make voluntary contributions to your children's KiwiSaver accounts at any time. Minors are not eligible for government contributions.

As legal guardian, you will be able to instruct across your child’s KiwiSaver until they turn 18 years of age.

Why QuayStreet KiwiSaver?

QuayStreet KiwiSaver Scheme is actively managed by our experienced team of investment specialists, with the aim to provide investors with investment returns above the fund benchmarks.

You can choose from a range of Funds to create your own KiwiSaver portfolio suitable for your needs, your timeframe and your risk/return appetite.

You are able to view your holdings on demand and download your quarterly reports via our online Client Portal. The latest and historic fund updates are also available – view now.

If you need help our Service Team is just a phone call away, call 0800 782 900 or alternatively email info@quaystreet.com.

You can change the composition of your portfolio as your circumstances change by contacting our Service Team or by completing an Investment Direction & Switching Form.

The QuayStreet KiwiSaver Scheme is a KiwiSaver scheme registered under the Financial Markets Conduct Act 2013.

The Scheme is designed to help you save for your retirement. The Scheme is a trust governed by a trust deed between us and The New Zealand Guardian Trust Company Limited (as Supervisor).

The Scheme has 10 funds which invest in turn into the corresponding QuayStreet Funds. The QuayStreet Funds are managed by QuayStreet Asset Management Limited.

Your contributions to the Scheme and contributions made by your employer and the Government are credited to a Scheme account in your name. Your contributions are pooled with the contributions of other members and invested in the Fund(s) selected by you and held through the Scheme.

The value of your Scheme investment at any time will reflect the value of the underlying assets in the QuayStreet Fund(s) which you have selected (less fees and taxes) and is represented by the value of your Scheme account.

The Scheme operates as a single fund, so all of the assets of the Scheme are attributable to meet liabilities of the Scheme.

The key benefits of investing in QuayStreet KiwiSaver are:

  • Flexible choice of 10 Funds - The QuayStreet Funds have been designed to enable you to choose a Fund that best suits your investment objectives your timeframe and your risk/return appetite. As your circumstances change you can adjust your Fund selection to suit your needs.
  • Sector-specific Funds
  • Experienced team of Investment Managers
  • A Craigs Investment Partners Adviser is available if you need advice
  • Access to view your holdings and reports online via our Client Portal.

How do I join QuayStreet KiwiSaver?

1. Read the QuayStreet KiwiSaver Scheme Product Disclosure Statement. 

2. Click here to go to the QuayStreet KiwiSaver online application form.

To be eligible to join the Scheme you must be:

  • Transferring from an existing KiwiSaver scheme; or
  • A non-KiwiSaver investor who is:
    • a New Zealand citizen or entitled to permanent residence in New Zealand;
    • living in, or normally living in, New Zealand (subject to certain exceptions for state services workers).

There is no Crown guarantee in respect of any KiwiSaver Scheme or investment product of a KiwiSaver scheme.

What can I invest in?

QuayStreet KiwiSaver scheme offers a range of 10 investment Funds. Each QuayStreet Fund has a different mix of asset class and investment range which deliver different risk and return profiles.

The QuayStreet Funds that have more defensive assets (fixed interest and cash) are likely, over time, to provide a lower return but with smaller variations in that return.

The QuayStreet Funds that have more growth assets (shares and property) are likely, over time, to provide a higher return but with greater fluctuations in returns from year to year.

View our Funds >

We measure the performance of each QuayStreet Fund against benchmarks that are most relevant for the asset classes or markets of that QuayStreet Fund.

How is socially responsible investing considered?

QuayStreet offers a Socially Responsible Investment Fund managed in line with the QuayStreet Socially Responsible Investment Policy and Criteria.

View the Socially Responsible Investment Fund >

View the process and criteria for the Fund >

What are the risks of investing?

Our Product Disclosure Statement outlines general investment risks, other specific risks, and a risk indicator for each Fund. To help you clarify your own attitude to risk, you should seek financial advice.

More information relating to risk associated with the Scheme is also available within the Other Material Information document and on the offer register; business.govt.nz/disclose.



Can I change my KiwiSaver investments?

Can I change my investment direction or switch funds?

You can change your investment direction for future contributions at any time by contacting our Service Team by email info@quaystreet.com and completing a Change of Investment Direction Form.

Can I withdraw my investments?

The nature of a KiwiSaver Scheme means your savings are locked in until the later of the dates:

  • You are eligible for NZ Superannuation (currently 65); or
  • You have been a member of a KiwiSaver scheme or a complying superannuation fund for at least 5 years* (if you joined over the age of 60).

* If joining KiwiSaver from 1 July 2019, there will be no compulsory five-year lock-in period for members aged 60 and over.  From 1 April 2020 anyone who was over age 60 and joined prior to 1 July 2019 will be able to opt-out of the 5 year lock-in period by notifying us and withdraw their funds when they turn 65. 

You may be able to make an early withdrawal of part (or all) of your savings under the KiwiSaver rules if you satisfy certain criteria. There are rules around when each of these withdrawals can be made and how much of your account can be withdrawn.

The table below summarises the permitted withdrawals from the Scheme.


withdrawals table

Visit Documents and Forms for all relevant withdrawal forms.

You may apply to us to make a one-off withdrawal from the Scheme to help pay for the purchase of your first home or to help pay the initial deposit, if you meet the following requirements:

  • You have been a KiwiSaver member or a member of a complying superannuation fund for a combined period of at least three years;
  • the home you are purchasing is, or is intended to be, the home you and your family will mainly reside in; and
  • you have not previously owned property (as defined under the KiwiSaver rules).

Any first home withdrawal must be paid into your solicitors trust account and must be paid prior to settlement. In some circumstances you may still be able to make a withdrawal if you have owned a home before. You must retain a minimum balance of $1,000 in your KiwiSaver account.

You may also be entitled to a KiwiSaver HomeStart grant. See hnzc.co.nz for more information.

You may apply for a withdrawal on the grounds of serious illness if:

  • You have an illness, injury or disability that results in you being totally and permanently unable to work in the job that you are suited by reason of experience, education or training; or
  • you have an illness, injury or disability that poses a serious risk of you dying soon.

We will require medical evidence (including a declaration from your medical team) before being able to request a withdrawal determination from the Scheme supervisor.

You may apply for a withdrawal on the grounds of significant financial hardship. The sorts of circumstances where that may be available include:

  • If you are unable to meet minimum living expenses; or
  • if you are unable to meet mortgage repayments on your principal family residence resulting in the mortgagee seeking to enforce the mortgage on the residence; or
  • meeting the costs of modifying your home to meet your, or your dependent family member’s special needs; or
  • meeting the cost of your, or your dependent family member’s, medical treatment for an illness or injury; or
  • meeting the cost of your, or your dependent family member’s, palliative care; or
  • meeting the cost of a funeral for a dependent family member.

We will require evidence of your financial position together with a statutory declaration of your assets and liabilities and income and expenditure before being able request a withdrawal determination from the Scheme supervisor. The Supervisor may limit a withdrawal to an amount that, in the Supervisor’s opinion, is required to alleviate your hardship.



You can transfer your Scheme balance to an Australian complying superannuation scheme following your permanent emigration to Australia.

We will require evidence that you have permanently emigrated, including a statutory declaration. You can transfer everything including your contributions, your employer’s contributions, the $1,000 kick-start (if you were eligible) and government contributions.


After one year you may apply for a withdrawal on grounds of permanent emigration. We will require evidence that you have permanently emigrated, including a statutory declaration. You can transfer everything including your contributions, your employer’s contributions and the $1,000 kick-start (if you were eligible), but you cannot withdraw any Australian superannuation sourced funds. Government contributions are refunded to the IRD.

If you permanently emigrate to New Zealand from Australia, you may transfer your Australian complying superannuation scheme to the Scheme.

You may make a withdrawal of an amount equal to the amount transferred (excluding any gains or losses on that amount) from your Australian superannuation scheme when you attain the age of 60 and satisfy the ‘retirement’ definition in the Australian legislation.

If you die while you are a member of the Scheme, your interest in the Scheme will be paid to your estate or, if your balance does not exceed the prescribed amount (currently $15,000) and other conditions are met, we may pay your balance to an eligible claimant under the Administration Act 1969.

We will require a certified copy of the death certificate, or probate, or where there is no Will, a Letter of Administration.

Withdrawal to meet tax liability on foreign superannuation withdrawal

If you have transferred savings from a foreign superannuation scheme to a KiwiSaver scheme, you may be able to make a withdrawal to pay tax or make a student loan repayment owing as a result of the transfer.

We will require evidence of the tax liability, including a statutory declaration, and the withdrawal will be paid direct to the IRD on your behalf.

Release of funds required under other enactments

In accordance with the KiwiSaver Act 2006, we must comply with any enactment requiring the release of funds from the Scheme. That can include releasing funds if ordered by a Court (including under the Property (Relationships) Act 1976).

If you wish to withdraw funds from the Scheme you must give written notice using our withdrawal request forms. A withdrawal request cannot be withdrawn once given.

For more information on withdrawals go to the offer register; business.govt.nz/disclose

What fees will I be charged?

You will be charged fees for investing in QuayStreet KiwiSaver Scheme. Fees are deducted from your investment and will reduce your returns.

The fees actually charged during the most recent year will be provided in your quarterly report.

The fees you pay will be charged in two ways:

  • Regular charges (for example, annual fund charges). Small differences in these fees can have a big impact on your investment over the long term;
  • One-off fees (currently none).

 Fees table

Fees are from the QuayStreet KiwiSaver Product Disclosure Statement dated 10 May 2019.

Performance Based Fees (Altum Fund only) - 

A performance fee is payable where the QuayStreet Altum Fund’s return (before tax) for the relevant period is more than the Reserve Bank of New Zealand Official Cash Rate plus 6% per annum for the same period.

15% of the amount by which the Fund’s return (before tax) for the relevant period exceeds the hurdle rate of return.

Read the QuayStreet KiwiSaver Product Disclosure Statement for more information about the fees charged.

Administration Fee and Scheme Expenses

An administration fee of up to $30.00 per annum per member and Scheme expenses estimated at approximately $15.00 per annum are also charged per member. For further information, please refer to the QuayStreet KiwiSaver Product Disclosure Statement

Members who are under 18 years old are not charged the an administration fee.

Example of how fees apply to an investor investing $10,000 into both the QuayStreet International Equity Fund and the QuayStreet Fixed Interest Fund:

Mary invests $10,000 in the QuayStreet International Equity Fund. She is not charged an establishment fee or a contribution fee. This means the starting value of her investment is $10,000.

She is charged management and administration fees, which work out to about $128.00 (1.28% of $10,000) for the QuayStreet International Equity Fund. These fees might be more or less if her account balance has increased or decreased over the year.

Over the next year, Mary pays other charges of $45.00

Estimated total fees for the first year

> Individual Action fees: $0.00

> Fund charges: $128.00

> Other charges: $45.00

See the latest Fund Updates for an example of the actual returns and fees investors were charged over the past year. If you are considering investing in other Funds, this example may not be representative of the actual fees you may be charged.

We can change the existing fees and introduce new fees, however fees and expenses must not be unreasonable. The Manager must publish a Fund Update for each fund showing the fees actually charged during the most recent year.

How we calculate fees

Methodology for calculating total fees disclosed in the QuayStreet KiwiSaver Scheme Annual Member Statements

This explains how we calculate the estimated total fees paid by a QuayStreet KiwiSaver member included in report packs under Fees and Expenses. It also includes a description of the information and assumptions used to estimate certain underlying fund charges which form part of the total fees.

Total fees calculation methodology

Total fees paid by a member for the year ended 31 March and included in the Annual Member Statement, comprise two elements:

Total Annual Fund Charge includes:

- Management Fees
- Underlying Fees and Expenses
- Performance Fees

Management Fees are calculated in each underlying QuayStreet Fund. The scheme does not charge members a separate management fee, this ensures there is no double charging of management fees for members of the scheme.

Underlying Fees and Expenses are calculated each day, by multiplying the market value of the units held in the QuayStreet Funds by the applicable management fee rate (refer the PDS for the fee rates, up to a maximum of 1.25%). The formula is:

a x b

where: a is the daily value of your holding
b is the underlying annual fund charge.

The underlying annual fund charge is prepared calculated for each QuayStreet Fund by the manager. Details of the underlying security fees are included in the Investment Options brochure.

Performance Fees are calculated for the QuayStreet Altum Fund. Details of the calculation are included in the PDS.

Estimates of certain underlying fund charges

The annual fund charges include the actual management fee, supervisor fee and expenses for each fund, as well as actual expenses and estimates of the other fees (including any performance fees). Estimates are based on historic fees and expenses data for the underlying funds. Where no historic data is available we estimate the expected fees and expenses levels using similar underlying funds. In the case of performance fees we use the estimates calculated by the relevant underlying manager. When we make estimates using historic data, we assume that ongoing charges will be at levels equivalent to the charges contained in the historic data.

Other charges includes:

- Scheme administration fee
- Scheme expenses (including audit and legal costs)

The scheme administration fee is $30.00 per annum, as described in the PDS.

Scheme expenses included audit and legal expenses. These expenses are paid by the manager and then recovered from the scheme.