KiwiSaver Information

What is KiwiSaver?

  • KiwiSaver is a voluntary workplace saving scheme to allow employees to save for their retirement.  KiwiSaver membership is voluntary and open to all New Zealand residents aged up to 65. A members savings will be locked-in until they reach the age of eligibility for NZ Superannuation (currently 65) or five years whichever is later. There are some exceptions - for significant financial hardship, serious illness, death, or permanent emigration. Terms and condition apply

  • It is administered by the Inland Revenue Department using the PAYE tax system

  • It is a voluntary scheme with all new employees automatically enrolled when they start a new job.  The employee may 'opt out' within eight weeks by advising the IRD. Existing employees may also opt in
  • The contribution by employees can be 2% (default), 4% or 8% of gross salary or wages

  • The Government will make a 'kick start' contribution of $1,000 to each KiwiSaver account

  • The Government will match a members contributions to KiwiSaver through an annual tax credit to the KiwiSaver account of up to $20 per week (approximately $1,040 per annum). Conditions apply 

  • Employees may take a contribution holiday after 12 months for up to five years at a time

  • Employers must make compulsory employer contributions at a rate of 2% of gross salary or wages. Employers can make additional contributions, however, all non-compulsory contributions are now subject to Employer Superannuation Contributions Tax

  • The self-employed can join KiwiSaver by contacting a KiwiSaver scheme provider directly. The self-employed are entitled to the one-off $1,000 kick-start payment..The Government will also match their contributions to KiwiSaver through an annual tax credit to their KiwiSaver account of up to $20 per week (approximately $1,040 per annum)


As an Employer

  • What are your responsibilities to your employees regarding KiwiSaver?
  • What are your responsibilities to the Inland Revenue Department?
  • How does KiwiSaver affect existing superannuation schemes?
  • What is best for your employees?
  • How do you minimise the cost and the compliance loading of KiwiSaver?
  • What are your opportunities to provide a more 'employee friendly' workplace using KiwiSaver?

If you would like to be contacted regarding the KiwiSaver scheme click here