COVID-19 and the effect it’s having on my Kiwisaver
MY KIWISAVER IS DROPPING, WHAT SHALL I DO?
COVID-19 has also has an effect on many peoples Kiwisavers.
You must remember that Kiwisaver Funds are a long term investment and COVID-19 will only be temporary. While your Kiwisaver may have reduced, these are only unrealised losses and the Contributions that you have been making are guaranteed by the Government.
As a general rule of thumb, anyone under 50 years of age should have their Kiwisaver in a growth fund, 50 – 60 years old should have a balanced fund and anyone of 60 should be in a conservative fund. Contact your Kiwisaver provider to find out which one you are in.