A powerful way to invest in your future
We highly recommend you take advantage of the positive benefits of KiwiSaver membership.
Why? Because it’s designed to help you achieve long term saving for your retirement. How? Your contributions, plus Government contributions, plus employer contributions form your investment funds. These funds are invested by your chosen KiwiSaver Provider who will add or subtract your investment returns, and deduct any fees, withdrawals or taxes. You then have your KiwiSaver funds accumulating over time into a nest egg for your retirement.
Put simply, here’s how it works:
- If you’re an employee you can select a contribution rate of 3, 4 or 8% of your gross wage or salary to go into KiwiSaver
- Employer contributions will also be added to your KiwiSaver account
- Government member tax credits up to $521.43p.a. apply if you’re living in New Zealand and aged 18 and over
- First home buyer assistance, subject to eligibility
Your KiwiSaver Questions Answered
KiwiSaver facts: KiwiSaver started in 2007. Since then, over 2,000,000 New Zealanders have kick started their retirement or first home deposit savings with KiwiSaver. KiwiSaver offers attractive benefits, plus it’s one of the few opportunities to receive money from the Government. Combined with small regular contributions, members can benefit from the “snowball effect” of compound returns and watch their retirement savings grow over time.
Government Member Tax Credits: Joining KiwiSaver makes you a member. Members aged over 18, living in New Zealand, receive “member tax credits” from the Government. Under the current rules the first $1,042.86 (approximately $20 per week) you invest over the course of the KiwiSaver financial year (1 July to 30 June) will attract member tax credits to a maximum of $521.43. If making manual contributions, Peter can make sure you get the full benefits.
Employer Contributions: Employers are required to contribute to their employees’ KiwiSaver account.
What if I am self-employed or not currently working?: If you’re self-employed or not currently working you can make payments directly to your KiwiSaver provider and receive the Government member tax credits. Contact Peter and he will show you how easy this is to setup.
First Home Ownership Assistance: As well as being able to withdraw funds after 3 years of membership (you must leave at least $1,000 in your KiwiSaver account), KiwiSaver members may be eligible for a home deposit subsidy, subject to meeting eligibility requirements.
A powerful way to save: Small, regular contributions from your pay, along with the special incentives provided for members make KiwiSaver a powerful way to invest for your future. Don’t miss out on your opportunity to start building a nest egg for your retirement or first home deposit.
What if I am already in KiwiSaver?: Peter can provide a free review of your current KiwiSaver account. He’ll make sure the investment strategy is appropriate for you, ensure you are on the right tax rate and that you are on track to receive the maximum benefits of KiwiSaver.
We are available to be nominated as your preferred Employee Adviser. That means we’ll provide your new and existing employees with a no-obligation overview of their KiwiSaver options, so they can understand the various providers and funds available to them. This also assists you, as the employer, to meet your obligations to your employees.
Got more questions? To talk to a real person about KiwiSaver, call our friendly expert, Peter West on (04) 528 8088 or click here to email him.
Peter’s Disclosure statement is available on request and free of charge.