KiwiSaver Considerations for People Near Retirement
As retirement approaches, some investors consider adjusting their KiwiSaver strategy. With a shorter timeframe until potential withdrawal, considerations around fund risk level and withdrawal timing become more relevant, though individual circumstances vary significantly.
Last reviewed: July 2026
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
Key Considerations for Near Retirement
- •Eligible to withdraw at age 65
- •Don't have to withdraw - can leave money invested
- •Some consider moving to lower-risk funds closer to retirement
- •No requirement to move to conservative funds
- •Consider how you'll use the funds in retirement
- •Seek advice for complex retirement planning
Fund Types Commonly Considered
Near Retirement often consider funds with risk indicators of 2, 3, 4 (on the 1-7 scale). Common fund types include: Conservative, Balanced.
Note: Fund type selection depends entirely on individual circumstances, goals, and risk tolerance. This is general information only.
Funds in Relevant Risk Categories
Example funds with risk indicators of 2, 3, 4 - for information only
| Fund Name | 5Y Return | Fees | Risk |
|---|---|---|---|
| Cash Enhanced Fund fisher-two | No 5-year average return figure held for this fund. | N/A | 3/7 |
| Conservative Fund fisher-two | No 5-year average return figure held for this fund. | N/A | 3/7 |
| Balanced Fund fisher-two | No 5-year average return figure held for this fund. | N/A | 4/7 |
| Growth Fund fisher-two | No 5-year average return figure held for this fund. | N/A | 4/7 |
| Glidepath Age 40 fisher-two | No 5-year average return figure held for this fund. | N/A | 4/7 |
| Growth Fund anz-default | No 5-year average return figure held for this fund. | N/A | 4/7 |
About “N/A” in return figures: it means no figure is held, not a return of zero. Of the 6 funds listed, 0 have a 5-year average return. Figures are drawn from fund disclosures on the FMA Disclose register, chiefly quarterly fund updates. Each fund shows the most recent figure held; the latest quarter broadly covered across all funds is March 2026. A fund too new to report a period has no figure for it; other gaps are figures not yet captured from the updates ingested so far.
This is not a recommendation. Past performance is not a reliable indicator of future returns.
Frequently Asked Questions
Should I move to a conservative fund before retirement?
Some people choose to reduce risk as they approach retirement. Others maintain growth funds if they don't need the money immediately. This depends on your personal circumstances and should ideally involve professional advice.
Do I have to withdraw my KiwiSaver savings at 65?
No. You can leave your money invested. Some people continue contributing and growing their KiwiSaver account into retirement.
How is KiwiSaver taxed in retirement?
Once you reach 65, you can withdraw tax-free. There's no additional tax on withdrawals, though the fund continues to be taxed at your PIR rate while invested.
Related Resources
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Important Information
Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
Compare every fund on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.
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The information provided on this website is not a recommendation to buy, sell, or hold any financial products. Nothing on this website constitutes financial advice for the purposes of the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider.
Investing involves risk. The value of your investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.
Before making any investment decision, you should read the Product Disclosure Statement (PDS) for the fund carefully. If you have questions or are unclear about the implications of your investment decision, you should seek advice from a licensed Financial Advice Provider.
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