Offering more than other investments
KiwiSaver is a savings initiative to help set you up for your retirement. Most members will build up their savings through regular contributions from their pay. It’s a voluntary, work-based savings initiative to help you with your long-term saving for retirement.
When you join you will receive:
A 3% Contribution from your Employer
If you’re contributing to KiwiSaver from your salary or wages, your employer is required to put in a minimum of 3% of your Before Tax Pay (less employer’s superannuation contribution tax).
Member Tax Credits of up to $521.43 every year
For every $1 you put into your scheme account, the Government will put in 50 cents up to a maximum of $521.43 per year, if you’re 18 or over. This is called a Member Tax Credit.
First Home Withdrawal
If you’ve never owned a home, and you’ve been a member for at least three years, you can take out all of the money both you and your employer have put in, as well as all of the investment returns, to help buy your first home – *conditions apply, for more information visit the Housing New Zealand website for conditions.
Up to $10,000 HomeStart Grant
On top of the first home withdrawal, if you’re eligible, you may also receive up to $10,000 as a HomeStart grant from the Government towards your first home.
Your Money is Held in Trust
Whether you are with a big Aussie bank or a New Zealand owned specialist, the KiwiSaver Act requires your investments to be held by a licensed trustee and not the scheme provider. This means you can focus on selecting the fund that’s right for you knowing your investments are being held and supervised by an independent trustee.
It’s up to you who you invest your money with and you can change your provider or scheme at any time.
If you need to know more about the scheme, call us on 0800 2 APPLY (22 77 59) or complete the form below and one of our team will be in touch with you.