Nau mai, haere mai!
Ko tēnei te wiki o te reo Māori!
It is Māori language week and what better way to celebrate it than with some basic KiwiSaver knowledge and phrases in te reo that you could benefit from throughout your financial journey. Te reo Māori is one of Aotearoa New Zealand’s official languages, and this is a time for the whole country to celebrate te reo Māori and be encouraged to learn and utilize Māori phrases in their everyday life to help with the revitalization of the language. Te Reo Māori translations have been sourced from Simplicity PDS.
Ka timata tātou!
Let us begin!
Ka Tirohanga Whānui e Tātou te wa kua Hipa
Reflecting on the Past
Since the arrival of Māori, Te reo Māori was the predominant language spoken in Aotearoa. In the 1800’s The Native Schools Act 1867 was enacted and te reo was banned in schools and discouraged in public. By the 19th century English had then become the dominant language due to colonialism. From the 1970s Māori reasserted their identity and an emphasis on the language was an integral part of this. In 1985 the Waitangi Tribunal made a claim that te reo was a taonga that the Crown was required to protect under Te Tiriti o Waitangi. The Waitangi Tribunal was found in favour of the claimants and te reo Māori was made an official language of Aotearoa under the Māori Language Act 1987.
Ngā Kupu Pūtea Hou o te Wiki
New Financial Words of the Week
He aha te Pūtake o KiwiSaver?
What is KiwiSaver?
KiwiSaver is a savings scheme that was launched on 1st July 2007 to help New Zealand citizens save for their first home and retirement. Mēnā e mahi ana koe, ka tangohia ngā tāpaetanga pūtea mō KiwiSaver i tō whaipūtea (tapeke tōmua) ki te pāpātanga mai te toru paihēneti, ki te tekau paihēneti rānei. Inā kāore koe e kōwhiri pāpātanga, ka whakaritea ano ki te toru paihēneti. KiwiSaver contributions are deducted from your pre-tax (gross) salary or wages if you are employed, at a rate of 3%, 4%, 6%, 8% or 10%. If you do not select a rate the default rate is 3%. Your employer will then match your contribution (or part of it) in most cases. E āhei ana hoki ngā mema katoa te tāpae utu atu anō mā ētahi punua utunga, mā tētahi utu nui kotahi rānei. All scheme members may also make additional voluntary contributions regularly or as lump sum payments. The money is then invested on your behalf by a KiwiSaver provider into a KiwiSaver fund of your choice. Ka wātea te tīni i te pāpātanga o tō tāpaetanga, te ‘whakatārewa tāpae’ rānei, heoi, he here e hono ana ki tō pēnei. You may at your discretion change your contribution rate or temporarily opt out of making contributions by applying for a ‘savings suspension’.
Ētahi o Ngā Tahua o KiwiSaver
Types of KiwiSaver Funds
There are different types of KiwiSaver funds you can invest in varying from Cash to Aggressive. The three most common fund types are Conservative, Balanced, and Growth.
Āhea te wā pai ka Tangohia Pūtea?
When can you withdraw your savings from your KiwiSaver account?
You can only withdraw your money once you reach the age of 65 (tāokitanga) or when you would like to purchase your kāinga tuatahi. Kā wātea hoki pea te tango moatatia o ngā moni hei āwhina i tētahi whakapāwera ahumoni motuhake, tētahi tino māuiuitanga, te pūwhenua ki tāwahi (i tua atu i Ahitereiria), te utu take me te utu taurewa-ā-ākonga e hāngai ana ki ngā whakawhitinga tahua penihana nō whenua kē. He herenga e hono ana ki ēnei. Ka āhei pea te tango moatatia o te moni mēnā koe i whānau mai me tētahi hauātanga whakaheke i te roa o tō ora. Early withdrawals may be available for significant financial hardship, permanent emigration (excluding Australia), serious health issues such as being born with a condition that is expected to reduce your life expectancy, and other reasons. Before withdrawing early, seek financial advice. It is important to understand the consequences of early withdrawals.
Ko ngā Haumi Huanga Matua – KiwiSaver
The Key Benefits of Investing in KiwiSaver
Tāpaetanga i te Kāwanatanga
Government Contributions
Mēnā kua pakeke ake koe i te 18, ā, kei raro tonu i te pakeke mō te penihana (i tēnei wā ko te 65), ka tukuna (ki te māraurau) e te Kāwanatanga te 50 hēneti hei tāpaetanga ki ia tāra ka tāpaehia e koe, tae noa atu ki te $521.43 te mōrahi i ia tau (1 o Hōngongoi ki te 30 o Pipiri). Ka utu tōtika atu ki tō tahua KiwiSaver hei te takiwā o te paunga o Hōngongoi i ia tau. If you are eligible, the Government will contribute 50 cents for every dollar you contribute, up to a maximum of $521.43.
Tāpaetanga a te wāhi mahi
Employer Contributions
Inā e tāpae ana ki te KiwiSaver, ka wātea hoki ki a koe tētahi tāpaetanga i tō wāhi mahi. Ko te 3% te nui o tēnei tāpaetanga, ā, ka tangohia i te tōputanga hua ahumonio o tō whaipūtea (tōmua). If you are employed and are contributing from your pay, your employer generally has to match your contributions or has to contribute at least 3% of your before-tax pay into your KiwiSaver.
Kāinga Tuatahi
Ka māraurau pea koe ki te tango i tō haumitanga (me noho tonu te $1000 ki tō tahua) hei āwhina i tō hoko i tō kāinga tuatahi, kia hipa rā anō te toru tau i tō kuhunga tuatahitanga ki KiwiSaver. KiwiSaver can help you purchase your first home. You may be able to withdraw money from your KiwiSaver fund to put towards your first home.
Ka Timata ki hea?
Where to Start?
National Capital specializes in KiwiSaver and Investment research and is here to help you with any questions you may have regarding your KiwiSaver. We figure out which fund and provider is most suitable for your needs.
He māmā noa iho! Haere ki tō mātou paetukutuku, ki HealthCheck. It’s easy! Start your journey to financial security by completing our HealthCheck.
Kia kaha te reo Māori!
Kuputaka
Glossary
As part of the Reserve Bank’s strategic priority to broaden its engagement with its stakeholders, the Bank has established He reo whairawa – a glossary of te reo Māori financial terms and a proposed wealth & investment vocabulary.
Please note that this is not personalized financial advice and we ask that you rely on the English text if you feel that there are discrepancies between the English and Te Reo Māori translations. This blog provides you with a basic KiwiSaver understanding. You can seek financial advice based on your own circumstances and goals by submitting a KiwiSaver HealthCheck.