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What is KiwiSaver?

KiwiSaver is a voluntary savings initiative designed to encourage New Zealanders to save for retirement.

What are the benefits?

  • A member tax credit of up to a maximum of $521 per year (the equivalent of $10 per week) for members who are over 18, residing in New Zealand, and not yet entitled to withdraw from KiwiSaver. This is paid at 50 cents for each dollar you contribute, so you need to contribute at least $1,042.86 per year (the equivalent of $20 per week) to receive the maximum amount. For conditions and details go to our member tax credit page. (Note that the availability of member tax credits are set by legislation and could be changed or suspended at any time.)
  • 3% compulsory employer contribution for members who are contributing through their jobs and who are over 18 and not yet entitled to withdraw from KiwiSaver. Some employers who are already paying into other eligible superannuation schemes may not be required to contribute to their employees' KiwiSaver accounts.
  • KiwiSaver HomeStart grant from Housing New Zealand. Subject to eligibility.

It’s important to note that the $1,000 kick-start payment from the government is no longer available after 21 May 2015.

Who can join?

To join KiwiSaver you must be a New Zealand citizen or entitled to live in New Zealand indefinitely, and living or normally living in New Zealand. You must also be under 65 years old.

You do not need to be working to join and benefit from KiwiSaver.

How do I join?

  • New employees are automatically enrolled in KiwiSaver by their employer and have up to eight 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 provider directly.
  • Children can join too. Parents or legal guardians can also sign their children up to KiwiSaver directly with a provider.

To find out more go to Who Can Join KiwiSaver?

You can choose your own KiwiSaver provider

You can choose your own provider and change your provider at any time.  

Joining or changing your account to the Kiwi Wealth KiwiSaver Scheme

Just complete our online application process and we handle the rest.

  • We’ll contact Inland Revenue to update your records and to notify your employer if this is your first time in KiwiSaver.
  • We’ll contact your old provider and arrange a transfer of your money.
  • We’ll set you up with an online account so you can track your contributions and your investments.

How much do I need to contribute?

Members who are employees will contribute at the minimum contribution rate of 3% or at a rate of 4% or 8% of their salary. Once you have been a member of KiwiSaver for 12 months you can apply to go on a contributions holiday. If you go on a contributions holiday you are no longer entitled to the compulsory employer contribution.

Members who are self employed or not employed can choose how much and how often they contribute.

For more information go to Making contributions.

When can I get my money out of KiwiSaver?

Savings in KiwiSaver accounts can’t be withdrawn until you reach the age of eligibility for NZ Super which is currently 65 or, if you joined KiwiSaver after you turned 60, once you have been in KiwiSaver five years.

If you are going to buy your first home, you may withdraw some of your KiwiSaver savings to put towards it. If you have owned a home before you may still be eligible to withdraw your savings in some circumstances.   

In limited circumstances, you may be able to access some of the money in your KiwiSaver account earlier.

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