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%, 6%, 8% or 10% 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 up to a maximum of $521 per year, if certain contribution levels are met.

From 1 July 2019, KiwiSaver is now open to all ages, including those over 65. New members (from 1 July) who join KiwiSaver between the ages of 60 – 64, will no longer be subject to a five year lock in period and will be able to withdraw their KiwiSaver funds from age 65.

Joining KiwiSaver is your first decision. However you then need to choose a provider and then decide on the best investment options for your savings. We can assist you with that process. If you do not make these important decisions then you will end up with default providers and default funds which can impact on your long term retirement funding.