Manage your investments

Manage your Westpac KiwiSaver Scheme online: you can track your investment’s performance, compare fund fees, and even change funds. 

Check you’re in the right fund

When you contribute money into your Westpac KiwiSaver Scheme investment account, it isn't held as a cash balance like a bank account. Instead, it buys 'units' within one or more funds within the Westpac KiwiSaver Scheme. These units can increase or decrease in value based on market movement.

There are 6 different funds within the Westpac KiwiSaver Scheme, each offering a different risk and potential returns. The higher the growth potential of each fund, the higher the risk that it could lose value during market downturns – bearing in mind that markets generally recover over time.

Choosing the ‘right fund’ for you depends on:

  • Your investment goals: Are you planing to use your funds to buy a first home, or for retirement?
  • Timeframes: When do you expect to access your funds?
  • Investment risk: How comfortable you are with your investment potentially losing value, or having lower than expected return?

Below is a description of your investment options:

Recommended Minimum Investment Timeframe Westpac KiwiSaver Scheme Fund Investment Objective and Overview
None Cash Fund Aims to provide stable returns over the short term
Invests in income assets of a short term nature such as bank deposits, floating rate notes and money market securities
Volatility is expected to be the lowest of the funds
Long-term returns are likely to be lower than for investments that include growth assets
3 years Default Fund Aims to provide stable returns over the short to medium term
Invests primarily in income assets but is required to have an allocation to growth assets of between 15% and 25%
Volatility is expected to be higher than the Cash Fund but lower than the Conservative Fund
Returns will vary and may be low or negative at times
3 years Conservative Fund Aims to provide stable returns over the short to medium term
Invests primarily in income assets but also has an allocation to growth assets
Volatility is expected to be higher than the Default Fund but lower than the Moderate Fund
Returns will vary and may be low or negative at times
5 years Moderate Fund Aims to provide moderate returns over the medium term
Has a higher benchmark allocation to income assets than to growth assets
Volatility is expected to be higher than the Conservative Fund but lower than the Balanced Fund Returns will vary and may be low or negative at times
7 years Balanced Fund Aims to provide medium returns over the medium to long term
Has a higher benchmark allocation to growth assets than to income assets
Volatility is expected to be higher than the Moderate Fund but lower than the Growth Fund
Returns will vary and may be low or negative at times
10 years Growth Fund Aims to provide higher returns over the long term Invests primarily in growth assets but also has an allocation to income assets
Volatility is expected to be the highest of the funds Returns will vary and may be low or negative at times


Hardship

Your Westpac KiwiSaver Scheme savings aim to provide you with money to live on during retirement, and as such withdrawing for hardship purposes should be considered only as a last resort.

If you are considering a hardship withdrawal, then it may be a good idea to switch to the Cash Fund to ensure that you have certainty around your balance for the near future.

It’s important to consider that there are several alternatives available, including Covid-19 related mortgage repayment holidays, or agreeing a solution with the Westpac Financial Solutions team.

Now you know each fund's recommended minimum investment timeframe – when should you switch?

In short, generally you should be switching funds is when changes in your life mean your savings goal or investment timeframe has changed.

You may need to consider switching if you plan to withdraw all your investment for circumstances which can include buying a home, you are at the Qualifying Age* or over and getting close to wanting to withdraw all your funds for retirement, are permanently moving overseas, suffering significant financial hardship or have been diagnosed with a serious illness.

Unless you’re a short-term investor as described above (that is, needing to access your money within the next few years), switching from a higher-risk fund to a lower-risk fund during a downturn may reduce the benefit you receive on any market recovery that may follow.

We're here to help

If you’d like personalised advice based on your current circumstances, feel free to get in touch with the Westpac Wealth Office via email or by calling 0800 942 822.

 

Change funds

Review your Westpac KiwiSaver Scheme from time to time, and make sure you’re in the right fund for your age and lifestyle.

Talk to a KiwiSaver specialist, compare funds, use the Risk Profiler, and read the Westpac KiwiSaver Scheme Product Disclosure Statement. 

Then, if you do decide to change your fund, you can do it all online without any paperwork or hassle.

Switch online

The process is easy. Just go to Westpac One online banking, log in to your account, and switch funds.

Note: Online fund switching is available for members aged 18 years and over.

Track fund performance

How’s your Westpac KiwiSaver Scheme fund performing? Read the latest updates about each Westpac KiwiSaver Scheme fund here. These are updated quarterly, and include performance and fee details.

Download the latest Westpac KiwiSaver Scheme Fund Updates: 

You might also like to look at previous fund updates.