What should I do with my KiwiSaver as I approach retirement?
As retirement nears, two things matter most: making sure your fund’s risk still fits your shorter timeframe, and planning how you will actually draw the money. You do not have to take it all at once, and for many people KiwiSaver keeps working for years into retirement.
Review your fund’s risk
A fund that suited a 30-year horizon may carry more ups and downs than you want when you are about to start drawing on it. As your timeframe shortens, a steadier fund can reduce the chance of a badly timed dip. Check whether you are in the right fund.
When you can withdraw
You can generally start withdrawing your KiwiSaver from age 65. You do not have to stop contributing or withdraw it all at once, and you can keep it invested and draw it down gradually.
Plan the drawdown
Think about how KiwiSaver fits alongside NZ Super and any other savings, and how long the money needs to last. Keeping some of it invested can help it keep growing through a long retirement. To sense-check your balance, read how much should I have in KiwiSaver by age.
Keep an eye on costs
Fees and your contribution rate still matter right up to retirement. See KiwiSaver contribution rates explained.
Compare KiwiSaver funds and fees on Kāhu.
Frequently asked questions
When can I withdraw my KiwiSaver?
Generally from age 65. You can withdraw it gradually rather than all at once.
Should I change my fund near retirement?
Many people move to a steadier fund as their timeframe shortens, but the right choice depends on when you will spend the money and your comfort with risk.
Can I keep my KiwiSaver invested after 65?
Yes. You can leave it invested and draw it down over time, which can help it last through a long retirement.
Kāhu provides general information, not personalised financial advice. Kāhu is a KiwiSaver comparison and switching platform operated by Financial Advice NZ Limited, a licensed Financial Advice Provider (FSP1009051). The figures here are general and current as at June 2026. For advice on your situation, speak to a licensed financial adviser.