You can change how your future KiwiSaver contributions are invested without affecting your existing investments.
Why have we introduced the ability to change your future KiwiSaver plan?
In the past if you wanted to change or rebalance your KiwiSaver investment you had to change your entire KiwiSaver portfolio, including existing funds as well as any future contributions. We introduced the choice to change your plan for only future contributions so you can avoid having to sell your existing investments if you don’t want to. This is just another way we’re giving you more choice and control in building your wealth!
How to change your future KiwiSaver contributions plan
Follow these steps to change your future KiwiSaver contributions:
Step 1: Log into your Kernel account.
Step 2: Navigate to your KiwiSaver portfolio.
Step 3: Select 'Edit plan' at the bottom of the page.
Step 4: Select the 'Only future contributions' option.
Step 5: Select your desired KiwiSaver Plan for your future contributions.
You won’t be able to select the same KiwiSaver Plan you’re already in, as this would result in no change to your future contributions.
When choosing the option 'Custom plan', you are able to update specific percentage allocations to each fund in your KiwiSaver investment strategy. Naturally, the total allocation will need to equal 100%.
You cannot select specific dollar amounts of your KiwiSaver balance to invest in funds, only percentage amounts. This is because, hypothetically, if a member were to select dollar amounts instead of percentage allocations, they could be left with excess unallocated cash sitting in their KiwiSaver balance, if they got the allocation amounts wrong.
Step 6: Confirm your KiwiSaver Plan for your future contributions.
What happens after the change is confirmed?
Once you have submitted the change in plan for your future KiwiSaver contributions, the change will apply to your next contribution when it is received.
Changing your plan during future contributions rebalance
Decided on a different KiwiSaver plan? No problem! While your KiwiSaver future contributions change is in progress, you can update your plan right up until the moment new funds land with us.
Why does my KiwiSaver performance graph still look the same after changing my future contributions plan?
Your KiwiSaver performance graph won’t change immediately following your future contributions plan change because it only reflects your existing investments. It will update once your next contribution is invested under your new plan.
Does rebalancing my future contributions sell my current investments?
No, rebalancing your future contributions does not sell or change any of your existing KiwiSaver investments.