Should You Have Your KiwiSaver with Your Bank?
I recently had a great question come up during one of our KiwiSaver financial literacy sessions, and I wanted to share it with you — because chances are, you've wondered the same thing.
"Is it risky to have your KiwiSaver invested with the same bank you bank with?"
It’s a common concern, and totally understandable. The thinking goes: if something happened to your bank (say Westpac, ANZ, etc.), would your KiwiSaver be at risk too?
So I decided to take a deeper look — and the results might surprise you!
🧐 What I Found
Using the tools at Sorted.org.nz, I pulled up the Westpac Conservative KiwiSaver Fund to see exactly what it’s made up of.
And here’s what stood out:
- ✅ Exposure to Fisher & Paykel Healthcare: 0.73%
- ✅ Exposure to Microsoft: 0.69%
- ✅ Exposure to Nvidia: 0.64%
- ✅ Exposure to Westpac (across bonds and notes): just 0.66% total
That’s right — if you’ve got $100 in a Westpac Conservative KiwiSaver fund, only 66 cents of it is actually exposed to Westpac itself.
The rest is spread across global bonds, government notes, and shares from both NZ and around the world.
🧠 So What Does This Mean?
It means you’re not taking a big risk by keeping your KiwiSaver with your bank.
These funds are designed to be diversified, which helps spread risk and protect your money — even if something were to happen to one provider or the local market.
If you’ve been hesitant or unsure about whether to stick with your bank or switch, this is a great example of why digging into the facts matters.
🎓 Want to Learn More?
I’m running a free upcoming KiwiSaver education session, where we’ll cover:
- 🧭 How to choose the right fund for your age + goals
- 🔍 Where your money actually goes
- 📊 How diversification protects you
- 🤯 Common KiwiSaver myths that confuse even smart people!
📅 Wednesday, 25th June, 1pm
📍 Online – attend from anywhere
🎟️ Free to attend – limited spots
👉 Click here to register or reply to this email with “KiwiSaver” and I’ll send you the link.
If you’ve ever felt unsure about your KiwiSaver, you’re not alone — and I’d love to help you feel more confident and informed.
Warm regards,
Kara Northcott
Independent Financial Consultant & Financial Literacy Facilitator
📞 027 666 6784
📩 kara@financialconsultant.co.nz
🌐 kara-northcott-financial-consultant.kit.com
