Set yourself up for financial growth in 2024



Generate contributor


Grow your KiwiSaver balance in 2024!

As we settle back into routines after the Christmas break many of us will start to think about how we can achieve the goals we’ve set for the year, and work out what needs to be done to set ourselves up for a positive year. 

If any of your 2024 goals relate to setting yourself up for financial success – make sure to consider your KiwiSaver account as part of this! Your KiwiSaver investment shouldn’t always follow a “set and forget” strategy – in fact we recommend checking-in on your account setup every year, or sooner if your employment situation or savings goals change.

A few tweaks to your KiwiSaver account now could make a huge difference to your savings in the long-term – and it doesn’t take long to review your account!

First – use our KiwiSaver Calculator and see how much money your KiwiSaver account is currently on track to save by the time you need it.

Find our KiwiSaver Calculator here

Now let’s consider ways to help boost your projected balance! 

1- Consider increasing your KiwiSaver contributions.

If you are employed and contribute to your account via your wages or salary, you have the option of contributing 3%, 4%, 6%, 8% or 10% of your income to your KiwiSaver account. While the difference between these contribution rates isn’t much, increasing your contribution by just 2 or 3% could make a significant difference to your savings over the long-term. 

To see how much more, you could save for retirement if you increased your KiwiSaver contribution rate, try adjusting your contribution rate in our KiwiSaver calculator.

If you are self-employed or unemployed your contributions are completely up to you. Consider preparing a budget or talking to a financial adviser to see how much money you can afford to contribute to your KiwiSaver account.

2-Check that your KiwiSaver fund type suits your goals. 

If your current KiwiSaver goal is to save for a comfortable retirement and that’s still at least 10 years away, a fund focused on growth is could be a good option for you. At Generate we have two fund options in this category, our Growth Fund and our Focused Growth fund. These funds have the potential to earn more over the long-term, but they could experience more up’s and down’s along the way, which is why they’re generally recommended for those with a long-term savings goal, rather than someone who plans to withdraw their money soon.

If you do intend to use your KiwiSaver savings soon – perhaps for your first house or if you’ll reach retirement in the next few years, then our Conservative or Defensive Funds could be more appropriate, as these funds are generally more stable in the short-term.

Depending on your savings goals and investment timeframe, it might be worth changing your current KiwiSaver fund type. We recommend talking to a KiwiSaver adviser before changing your fund type, as in some situations there are good reasons not to change your fund type.

To talk to a Generate KiwiSaver Adviser, call us on 0800 855 322.

3- Make sure you don’t miss out on the extra $500 from the Government.

Every year KiwiSaver members between 18 and 65 years can get an extra $521.43 from the Government. To be eligible, you need to make sure you contribute at least $1,042.86 to your KiwiSaver account between July 1 and June 30 every year. 

Download the Generate app or log in to your Generate account online to see how much you’ve contributed since the 1st of July 2023 and make sure you’re on track!

Eligibility does apply read more here:

4- Don’t underestimate the value of advice.  

Research shows financial advice adds long-term value to your savings.

More than two thirds of advised New Zealanders say that advice has led to outcomes such as a better understanding of the risks of their financial plan (77%), a better understanding of how to achieve their financial goals (74%), and they are better equipped to actually stick to these financial plans (70%)^.

Our KiwiSaver advisers take pride in providing simple, straightforward KiwiSaver advice to help Kiwis make smart investment choices. We have advisers right across the country available to help you with your KiwiSaver savings goals for 2024 - get in touch to talk with one today. 

We are here to help you set up your KiwiSaver account goals for 2024, you can contact us on 0800 855 322 or email us at


How a KiwiSaver account can kick start your child's financial future



Generate contributor


Should I set up a KiwiSaver account for my child?

When it comes to setting up your kids for a strong financial future, the earlier you can get started, the better.

While many parents and guardians are well aware of savings accounts and the habit of popping a bit of money away for their child each year, we often get asked whether it’s a good idea to set up a KiwiSaver account for children too.

A KiwiSaver account is not just a savings account; it’s an investment which if nurtured well, can grow into a very helpful chunk money by the time the child is ready to buy their first-home.

However, KiwiSaver has strict rules – particularly around withdrawals, so it’s important to understand both the benefits and limitations on how KiwiSaver works for children before deciding if it’s right for your family.

Benefits of setting your children up with a KiwiSaver account:

1. Paves the Way for Homeownership:

New Zealand's housing market doesn't come cheap, and let's face it – many parents might still be chipping away at their own mortgage when their kid is ready to jump into the housing game. It can be a bit overwhelming! 

That’s where a KiwiSaver account can help. Setting your child up with a KiwiSaver account early and investing a bit of cash into their account each year, could help their balance reach a healthy bump, by the time they are ready to buy their first home. 

2. Unleashing the Power of Compound Returns:

The magic of compound returns is a key feature of having a KiwiSaver account. Starting early allows contributions to benefit from ‘a long-time in the market’ and their funds and any returns benefit from the compounding effect each year.

"Time in the market" refers to the concept that the longer an investor stays invested in the financial markets, the greater the potential benefits over time. Longer investment periods allow for compounding returns. Over time, earnings on an investment generate additional returns, and these returns, in turn, generate more returns. Compounding can significantly boost the overall growth of an investment.

3. An introduction to investments:

Introducing children to the concept of KiwiSaver can provide valuable financial education and instil good savings habits. As your child gets older, they can learn about important investing concepts and risk and reward to help set them up for success. 

4. Encouraging Family Financial Collaboration:

Having a KiwiSaver account is not just an individual endeavour; it's an opportunity for family collaboration. You, Grandparents and/or other members of the family can contribute to your child's KiwiSaver account, creating a collective effort that accelerates their savings journey and emphasizes the importance of financial support within the family.

5. Preparation for adulthood

Having a KiwiSaver account can be an early step towards financial independence. It teaches children about the importance of planning for their future and taking control of their financial well-being.

Understanding the considerations and limitations

Withdrawals and accessibility: 

The KiwiSaver scheme was designed by the New Zealand Government and has strict rules – particularly around withdrawals. Your child’s KiwiSaver savings can only be withdrawn either when they are ready to buy their first-home – or when they reach retirement. 

Both of these are likely a LONG time away for your child, and while this means the funds get the benefit of having a long time in market to grow – it’s important to remember that they are locked away and can’t be withdrawn at any time. 


It’s important to note, that while you can open a KiwiSaver account with no minimum investment, you will still be charged annual fees for an account including a $3 monthly administration fee. This is why we generally only recommend opening a KiwiSaver account for under 18’s, if you (or they) plan on regularly contributing to the account – it doesn’t have to be much, but a regular contribution of (for example, $100 per year) will help you realise the benefits of compounding returns.

You can make lump sum transfers to an account as and when you like or set up an automated direct debit.

Extra benefits not available for under 18 years:

And while KiwiSaver has some great benefits that no other investment offers – these unfortunately are not available for those under 18 years. For example, to be eligible for the annual Government contribution you must be between 18 and 65 years, and even if you have a teenager who is working, their employer is not required to contribute 3% to their KiwiSaver account until they turn 18 (although some choose to anyway – it’s worth asking the employer).

So, should you do it?

Well, if you are focused on long-term savings for your child’s future, especially for their first-home, a KiwiSaver account could be a very beneficial investment, considering potential investment growth so long as you are happy to continue contributing a small amount each year, until your child is ready to take over the account themselves.

However, we recommend talking to a KiwiSaver or financial adviser first to discuss your specific situation, goals, and the best approach for your child's financial future.

The Baby Show Prize Draw Terms & Conditions



Generate contributor


The Baby Show Prize Draw Terms & Conditions

1.  To enter a person must (as an Entrant) complete the ‘Entry Form’ and provide their name and contact details. The prize is provided by Generate Investment Holdings Limited, PO Box 91609, Victoria Street West, Auckland 1142, New Zealand (the Promoter). Each entrant can only enter once in the promotion prize draw. A valid entry cannot be a person who is ineligible to join a KiwiSaver Scheme (the Scheme).

2. To be eligible all entries must be received by the Promoter between 00:01 hours 09.03.2024 and 23.59 hours 10.03.2024.

3.  Entry is open to all New Zealand residents except for employees or their direct families of Generate Investment Holdings Limited, PO Box 91609, Victoria Street West, Auckland 1142.


4. The Baby Show prize draw will be made on or about 11.03.2024. The prize winner will be contacted by phone on the contact details provided on the entry form.

5. There is only one prize winner to be drawn. The prize winner will win a $1000 Prezzy Card

6. All completed Entry Forms will be automatically treated as valid entries and will be entered into the Baby Show prize draw. All entries will be deemed to have been received at the time of the completion of the survey.

7. If a winner cannot be contacted within 2 days using the contact information provided
in the draw entry, the prize will be declared null and void. If a prize is
declared null and void the Promoter will have the sole and absolute discretion
to draw the prize again and award the prize to a new winner.


8. Completion of the Entry form and entry into this prize draw is deemed acceptance of these terms and conditions. If a winner does not accept these terms and conditions the prize will be forfeited.

9. The Promoter reserves the right to extend, postpone, or cancel the competition and to update the terms and conditions, and the prize without notice and for whatever reason.

10. All entries become the property of the Promoter. Entry into the promotion constitutes consent by the Entrant to the Promoter to use the prize winner’s personal information for the purposes of the Promoter (or its advisers or agents) contacting the Entrant to discuss the Scheme, and for any promotional purposes connected with the prize draw (and the Entrant waives any claims to royalty, right or remuneration for such use). All entrants’ personal information will be held in accordance with the Privacy Act 2020 by the  Promoter (Level 9, Jarden House, 1 Queen Street, Auckland 1010) and the Promoter’s Privacy Statement at Generate Privacy Statement. Any requests to access, update or correct any information should be directed to the Promoter using the contact details available on the website

11. The Promoter may be required by law to disclose the personal information you provide. The Promoter will only disclose the information if it believes on reasonable grounds that it is required to do so.

12. In relation to any aspect of the promotion the Promoter’s decision is final and binding on every person who enters, and no correspondence will be entered into.

13. The Promoter reserves the right to require the prize winner to sign a declaration confirming their eligibility to accept the prize and to verify their identity.

14. The winners will be selected randomly by the Promoter.

15. The Prize is not transferable and not redeemable for cash.

16. The Promoter will be responsible for delivery of prize.

17. The Promoter, Public Trust (as Trustee of the Scheme) and their respective associated agencies, companies and employees, and the Scheme shall not be liable in any way (including, without limitation, indirect or consequential loss) or for any loss or damage or personal injury suffered or sustained by any person directly or indirectly arising out of or in connection with this promotion, except for any liability which cannot be excluded by law. The Promoter is not liable for any tax implications that may result from winning a prize package. The prizes are being provided by Generate Investment Holdings Limited and not the Generate KiwiSaver Scheme nor Public Trust.

18. Nothing in condition 17 is intended to exclude, restrict, or modify the winners’ rights under the Consumer Guarantees Act 1993.

A copy of the Generate KiwiSaver Scheme Product Disclosure Statement and FAP Disclosure Statement can be found at

The issuer is Generate Investment Management Ltd.