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 scheme 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.
- An annual Member Tax Credit contribution of 50 cents for every dollar you save, up to a maximum of $521.43 (if eligible)
- Compulsory contributions from your employer (if eligible)
- Help with buying a first home
- Flexibility to respond to changes in your situation
Your employer and Government contributions work with your own contributions to boost your savings. That’s why KiwiSaver may be more effective than a regular savings plan in helping you meet your retirement savings goals.