KiwiSaver is a voluntary, work-based savings initiative, created by the Government to help New Zealanders prepare financially for retirement. KiwiSaver is designed to be hassle-free, so it’s easy to keep up a regular savings habit.
To join KiwiSaver, you must meet three conditions. You must be:
KiwiSaver is an easy way to save for your retirement. If you’re in paid employment, you can choose to have contributions deducted directly from your salary or wages before tax – your 'gross' income. Contribute at a rate of 3%, 4% or 8%.
For tips on making the most of your money, please watch the Top 10 Hits recording in the More information section below.
Usually, your savings in KiwiSaver will be locked in until you meet both the following conditions. You must:
But in some cases you may be able to take out your savings earlier. For example if you're:
Other situations where your KiwiSaver money can be withdrawn early include:
Conditions apply to all of these situations so not everyone will be eligible for an early withdrawal.
If you have any queries or want to know more: