KiwiSaver is a voluntary long-term savings initiative to help set you up for your retirement. Most members will build up their savings through regular contributions from their pay. Your KiwiSaver savings are made up of contributions to your account, plus or minus investment returns, minus any withdrawals, fees and taxes.

The following information is from :

If you are employed and choose to join KiwiSaver, contributions are deducted from your pay at the rate of either 3%, 4% or 8% (you choose the rate) and invested for you in a KiwiSaver scheme.

If you're a KiwiSaver member making contributions from your pay, your employer also has to put money in. This is equal to 3% of your pay.

Your employer does not have to make compulsory contributions to your KiwiSaver account if:

  • They are already paying into another eligible registered superannuation scheme for you (if your existing scheme meets certain criteria)
  • You are under 18 years of age
  • You are over 65 years of age, or have been a member of KiwiSaver for five years, whichever date is later * you are not contributing (for example on a contributions holiday or on leave without pay). 


If you are self-employed or not working, you can agree with your KiwiSaver provider how much you want to contribute, and make payments directly to them.


When you can get your money?

Your KiwiSaver savings will generally be locked in until:

  • You're eligible for NZ Super (currently 65), or
  • You've been a member for at least 5 years (if you joined over the age of 60).


You may be able to make an early withdrawal of part (or all) of your savings if you're:

  • buying your first home* moving overseas permanently
  • Suffering significant financial hardship
  • Seriously ill.


What you will get when you retire?

NZ Super provides for a basic standard of living in retirement, but it may not be enough for the kind of retirement you want. Having a KiwiSaver account doesn't affect your eligibility for NZ Super or reduce the amount of NZ Super you would be eligible for.

KiwiSaver savings will complement NZ Super to provide you with a better standard of living for your retirement.

Kiwisaver benefits:

  • Member’s Tax Credit - To help you save, the Government will make an annual contribution towards your KiwiSaver account as long as you are a contributing member aged 18 or over. From 1 July 2011 the Government will pay 50 cents for every dollar of member contribution annually up to a maximum payment of $521.43.
  • Contributions from Employer - If you're a KiwiSaver member making contributions from your pay, your employer also has to put money in. This is equal to 3% of your pay.
  • First Home Withdrawal - You may be able to withdraw some of your KiwiSaver savings (provided you leave a minimum balance of $1,000 in your account) to put towards purchasing your first home.
  • KiwiSaver HomeStart Grant - After 3 years of contributing to KiwiSaver, you may be entitled to a KiwiSaver HomeStart grant.


We are able to provide you with class advice on KiwiSaver.