What is KiwiSaver?

KiwiSaver is a voluntary work-based savings scheme set up by the government to encourage New Zealanders to save for their retirement.

If you're employed, you can choose to contribute 3%, 4% or 8% of your gross (before-tax) wage or salary to your KiwiSaver account. Your employer has to contribute as well – at least 3% of your gross salary. In addition the Government makes a contribution (known as Tax Credits) up to a maximum of $520 per year.

Who can join KiwiSaver

To be able to join KiwiSaver you don't have to be employed, but you do have to be:

  • A New Zealand citizen, or entitled to live in New Zealand indefinitely.
  • Living or normally living in New Zealand.
  • Be under the age of eligibility fo NZ Super (which is currently 65 years).

Benefits of KiwiSaver

You should seriously consider joining KiwiSaver because of the benefits it offers. Here are some of the reasons why:

  • If you’re employed, your employer has to contribute at least 3% of your gross wage or salary into your KiwiSaver account. That’s on top of your own contributions.
  • Your KiwiSaver contributions come out of your pay before you see it. This makes saving easy.
  • The government pays into your KiwiSaver account as well – an annual ‘member tax credit’ (if you are a contributing member aged 18 or over) of up to $521.
  • As well as saving for retirement, KiwiSaver can also help you save for your first home through a home deposit subsidy and home purchase withdrawal.
  • If you change jobs or leave the workforce your KiwiSaver account moves with you.

Choosing a KiwiSaver fund

You can choose the KiwiSaver scheme your savings are invested with or let your employer or the government choose one for you.   

Most KiwiSaver schemes have several different investment funds where you can put your money. Each fund has a different mix of things it invests in – such as bank deposits, bonds, shares and property. KiwiSaver schemes and their investment funds are not guaranteed by the government.

Your KiwiSaver scheme account should match your investor type to get the results you want. Choosing the right investment option is important as it can make a big difference in savings over the long term. We can assist you with that choice and advise on the different funds available.

Saving for Retirement

Someone once said "the best retirement savings plan is one someone else pays for". Retirement may seem a long way off for many people but it is never to early to plan. We can assist you to plan for the long term and check to see if your savings and investments will meet your long term objectives.

Saving for your first home

When you buy your first home you may be able to make a one-off withdrawal of some of your KiwiSaver savings, except the original $1,000 kick-start. (This amount generally has to stay in your KiwiSaver account until you're eligible for NZ Super.) You will need to have been a contributing KiwiSaver member for at least three years to make a home purchase withdrawal. You also may even qualify if you have owned property previously.

In addition to a KiwiSaver savings withdrawal, you may also qualify for a KiwiSaver first home deposit subsidy. If you’re eligible, the government may also give you up to $2,000 for every year you contribute to KiwiSaver ($6,000 after 3 years up to a maximum of $10,000 after 5 or more years) to go towards buying your first home.

Want to Join?

Either email/call us via the "Contact Us" page