What is KiwiSaver?

KiwiSaver is a voluntary work-based savings initiative that makes it easier for you to save for your future.

KiwiSaver makes it easier to save because money is put into a KiwiSaver in your name from your weekly, fortnightly or monthly pay.

Once you join KiwiSaver your savings are locked-in until you reach the age of eligibility for New Zealand Superannuation (currently 65), or for five years for people who join after age 60.

From 1 July 2019 people aged 65 and over will be able to join KiwiSaver. Also, new members will not be locked in for 5 years.

Members between the ages of 60-64 inclusive who enrol after 1 July 2019 will be able to withdraw their funds at age 65.

KiwiSaver offers a number of benefits  including:

  • An annual tax credit to your KiwiSaver account of up to $10 per week (approximately $520 per annum) if eligible
  • Contributions made by your employer if you're an employee 
  • Help with buying your first home

Who can join

You can join KiwiSaver if you’re:

  • A New Zealand citizen, or entitled to live in New Zealand indefinitely, and...
  • Living or normally living in New Zealand (with some exceptions)

You can't join KiwiSaver if you're:

  • holding a temporary, visitor, work or student permit
  • living overseas, unless you're a government employee:
    • serving outside New Zealand, and...
    • employed on NZ terms and conditions, and...
    • serving in a jurisdiction where offers of the KiwiSaver scheme are unlawful

Enrolment in KiwiSaver will be automatic for all those starting a new job (with some exceptions), although employees automatically enrolled will have the chance to opt out (within a specified timeframe). Other people can choose to opt in to KiwiSaver but can’t then opt out.

Government  contributions

KiwiSavers between the ages of 18 to 65 are elgible for the Government contribution. The Government contributes 50 cents for every $1 you contribute up to a maximum Government contribution of $521 per year. To get the maximum contribution you will have to contribute $1,042.   

If you join after 1 July 2019 you can get the Government contribution up until age 65. If you have joined before 1 July 2019 you get the Goverment contribution up until age 65, or when you have been a member for 5 years.

From April 2020 members impacted by the lock-in period of 5 years can opt out when they reach 65.

How do I join

New employees are automatically enrolled in KiwiSaver by their employer and have up to 8 weeks to opt out. Other employees can opt in to KiwiSaver through their employer or join by signing up with a KiwiSaver provider. People who are self-employed or not employed can join KiwiSaver by signing up with a KiwiSaver provider directly. Children can join also by having their parents or legal guardians sign them up direclty with a KiwiSaver provider


Call us on 03 470 1030 if you need any help or have any questions about KiwiSaver at all.