KiwiSaver is a Government initiative to assist NZ residents and people entitled to live here permanently, aged up to 65, save for their retirement.

There are a range of membership benefits including:

  • A tax free $1,000 kick start paid from the Government to your KiwiSaver account.
  • Regular contributions from your employer at a rate of 3% of your pay
  • Annual member tax credit paid by the Government (to a maximum of $521.43)

There are three ways to join KiwiSaver:

  1. When you start a new job, if you are not already a member and are eligible, your employer will automatically enroll you.
  2. You can contact a KiwiSaver provider directly and join.
  3. You can join through your existing employer by asking them for an employee information pack and filling in the application form.

Note: if you have been automatically enrolled when starting a new job and do not wish to join KiwiSaver you must complete an opt-out request form within eight weeks of joining.

If you choose to join KiwiSaver, the contributions are deducted from your pay at the rate of either 3%, 4% or 8% (you choose the rate) and are invested for you in a KiwiSaver scheme of your choice. Your employer is required to contribute an additional 3% of your pay if you are registered with KiwiSaver. If you are self-employed or not working and wish to join KiwiSaver, you simply agree with your KiwiSaver provider how much you want to contribute and make payments directly to the provider.

Note: to be eligible for the annual member tax credit you will need to contribute at least $1,042.86 per year.

KiwiSaver members can take a "contributions holiday" after they have been in KiwiSaver for 12 months. A contributions holiday can be for a minimum of three months and a maximum of five years. There is no limit to the number of contributions holidays a member can take.

For more information on KiwiSaver please call us or alternatively refer to the Kiwisaver website.

Employers must:

  1. Give new employees and other existing staff who are interested an Employee information pack (KS3)
  2. Pass employees' details to Inland Revenue to enable them to be enrolled
  3. Deduct contributions from employees' gross salary and pay these to IRD through the PAYE system

Further information specific to employers can be found on the IRD website