Thorners KiwiSaver Services
There’s no hurdle to joining KiwiSaver that’s too high to overcome. KiwiSaver’s a no brainer. What are you waiting for? 
- Government $1,000 kick start
- Government matching up to $1,042 p.a.
- First home buyer subsidy
- Employer contributions effective now – don’t say no to a pay rise
- Non contributory options available for certain occupations
For a simple solution call Thorners on 04 528 8088
KiwiSaver fact Nearly three years on and over 1,300,000 New Zealanders have taken advantage of the opportunity to kick start their retirement or home deposit savings with KiwiSaver. This has been due to the attractive benefits KiwiSaver has to offer as well as being only one of the few opportunities to receive money from the Government for a change. Combined with small regular contributions, members can benefit from the “snowball effect” of compound interest and watch their savings grow over time.
Starting Early – Kids Can Join KiwiSaver Too! Several providers have recognised the power of compounding returns over time and created an option for Kids. This allows you to sign up a child of any age so they can receive the Government’s $1,000 kick start payment and start earning interest from an early age, without you having to make any contributions.
Why are Kiwi’s joining KiwiSaver? All KiwiSaver members receive $1,000 from the Government into their account when they join, to kick start their savings.
Tax Credits To Match Your Savings Members aged over 18 who live in New Zealand will receive “member tax credits” from the Government to match their own contributions. The tax credits match savings up to $20/week ($1,040/year) and continue until you are able to withdraw from KiwiSaver. If making manual contributions, you need to monitor them to get the full benefit.
Employer Matching Contributions Employers are obliged to match their employees’ KiwiSaver contributions up to 2% of salary. The employer contributions are tax free for employees.
Home Ownership Assistance As well as being able to withdraw their contributions after 3 years, members may be eligible for a home deposit subsidy of up to $5,000 subject to meeting elegibility requirements.
What might it be worth to you – A Powerful Way To Save Small, regular contributions from your pay, along with the special incentives provided for members like fee contributions, make KiwiSaver a powerful way to save. This table shows the value of KiwiSaver for someone aged 30 earning $40,000 per year:
| Benefit | Value after 35 Years* | |
|---|---|---|
| Saving in KiwiSaver | Saving outside KiwiSaver | |
| Contributions at 4% of salary | $227,448 | $227,448 |
| $1,000 kick start | $7,686 | 0 |
| Contributions at 4% of salary | $115,892 | 0 |
| Employer Contributions | $152,390 | 0 |
| Tax saving on employer contributions | $75,057 | 0 |
| Total Savings | $578,473 | $227,448 |
* Assumes savings earn 6% pa after fees and tax, are matched by the employer and grow with inflation at 2%pa. Don’t miss out on your opportunity to start building a nest egg for your retirement or first home deposit. Contact us today to discuss how KiwiSaver fits into your own circumstances.
Employers
Contact us to discuss the benefits of Thorners being your preferred Employee Adviser. We offer a no obligation run through on the KiwiSaver options available to all new or existing employees so that they understand the various providers and funds available to them. This also assists you, as the employer, to meet your obligations to your employees. Employees can also benefit from a lower account fee structure and depending on the chosen provider, free life cover.
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