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05-02-2012, 09:32 PM
#391
Member
Mary Holm has some good articles on KS in the NZ herald website.
It has been an amazing deal.
April it becomes not so brilliant as the tax free employer contibution goes.
For self employed I think the first year is good as they give you $1521 but maybe just put it on hold after that.
I think will switch back to ssrss(for govt employees pre 2008 or so) in April as will get 3% from the employer instead of 2% with KS.
I think I can still pay $1000 into KS and get the $521.
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05-02-2012, 10:03 PM
#392
Originally Posted by Blendy
ugh, Kiwisaver. I keep wondering if this is something i should do, or if i can invest better myself for the rest of my life. Or worrying that I might actually be missing out on this.
However, there seems to be so much mixed feeling from reading this thread, so I can only hope that as long as I am making an effort to invest in lieu of Kiwisaver that I will be fine.
One question - is there any actual point in kiwisaver if i am self employed?
self-employed can contribute $1,042 annually and get the $521 "tax credit" annually from the govt as well as the one off $1,000 kickstart. On top of that the return your kiwisaver provider can achieve less their fee. Downside is not knowing how future govt might change the rules (probably an annuity rather than lump sum in future years) and limits on how its invested until your 65yrs. Worth it as it currently stands IMHO.
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06-02-2012, 08:56 AM
#393
Member
Originally Posted by Blendy
ugh, Kiwisaver. I keep wondering if this is something i should do, or if i can invest better myself for the rest of my life. Or worrying that I might actually be missing out on this.
However, there seems to be so much mixed feeling from reading this thread, so I can only hope that as long as I am making an effort to invest in lieu of Kiwisaver that I will be fine.
One question - is there any actual point in kiwisaver if i am self employed?
A couple of the Kiwisaver providers allow you to select your mix of assets. I am with superlife they are fantastic. I can change my allocation online and it will be actioned withing 24hours.
I am also looking at Craigs Kiwisaver Select. Apparently you can choose from 100 nominated securities in your portfolio.
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07-03-2012, 11:37 AM
#394
Originally Posted by lou
A couple of the Kiwisaver providers allow you to select your mix of assets. I am with superlife they are fantastic. I can change my allocation online and it will be actioned withing 24hours.
I am also looking at Craigs Kiwisaver Select. Apparently you can choose from 100 nominated securities in your portfolio.
I am also considering Craigs self-selected portfolio for my non-Kiwisaver work super. As far as I can tell, this self-selected approach is broadly similar to SMSFs in Australia, but with higher fees (a disincentive: 2.5% entry and exit fees!). On the plus side, it gives the individual saver quite a bit of control over their returns. Does anyone know where I can see their list of "approved" securities online?
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10-09-2012, 11:07 AM
#395
Member
In a nutshell, for someone who is self employed or a housewife:
If you contribute the very minimum of $1,042 per year, you can enjoy the $1,000 kickstart as well as the $521 tax credit per year. You'll get them back when you retire at 65.
Do I understand it correctly? I'm totally ignorant when it comes to Kiwisaver, as I always prefer investing by myself.
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10-09-2012, 11:44 AM
#396
Yes you are right. Also anyone else can do the same but they must contribute from their wages for the first year. Then they can go on a contributions holiday and then be the same as you have described
All this is under the current rules. Future changes may alter things.
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10-09-2012, 12:11 PM
#397
Member
Thanks 777 for the confirmation. Based on the recommendation on this forum, I think I'll pick SuperLife for their low fees. (I never like funds, so a no-frill, low-fee service will suit me well.)
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19-09-2012, 07:12 AM
#398
Member
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19-09-2012, 09:24 AM
#399
Happy to be with Superlife. Very low MER. Wish they had a NZ index fund though to lower the growth MER even more. ironically their active fund has a lower MER that NZX's Smartkiwi which is an index fund (0.65% for over $30k, no fixed fee - not on the Cannex chart). No wonder Kiwis dont do index funds.
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19-09-2012, 07:28 PM
#400
Member
Yes their NZ Shares and Gemino funds are going ballistic lately about 8% in a few weeks. Plenty of FPA & PEB in both funds. I wonder if it is purely Kiwisaver & NZ super fund driving the NZX or maybe a few Australian funds are looking this way.
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