FAQs

KiwiSaver

General

What is KiwiSaver?

KiwiSaver is a government savings initiative to help you save for your retirement. It is a smart and affordable way to save for your future.

For every dollar you put into your KiwiSaver account in the “KiwiSaver year” (1 July to 30 June), the government will contribute 25c up to a maximum amount of $260.72. To qualify for the government contribution you must be 16 or older, and under 65.

If you are an employee, you will also get a contribution from your employer.

KiwiSaver is designed to help you build long-term wealth, for your retirement. It is also possible to withdraw your savings if you are buying your first home, or in cases of significant financial hardship, serious illness and permanent emigration.

All contributions and benefits payable are subject to the KiwiSaver Act 2006.

Why should I join KiwiSaver?

KiwiSaver is a savings initiative to help you save for retirement - You choose how much to contribute and your employer also makes regular contributions. You can choose to contribute at least 3% (which is lifting to 3.5% in April 2026 and 4% in April 2028) of your gross (before tax) wage or salary to your KiwiSaver account. Or you can select 4%, 6%, 8% or even 10%.
If you make contributions to KiwiSaver, your employer must also contribute at least 3% of your gross pay. This applies if you’re 18 or older (or 16 or older from 1 April 2026) and under age 65. The minimum employer contribution rate is set to increase to 3.5% in April 2026 and 4% in April 2028.
When you reach age 65 you can access some or all of your SuperLife KiwiSaver Scheme savings whenever you need it.

The government helps you to save - At the end of June each year the government will top up your KiwiSaver account by 25 cents for every $1 you save, up to the value of $260.72 (provided you are 16 or older, your primary residence is New Zealand, had an income of $180,000 or less for the year and you are not yet eligible for a retirement benefit). The maximum amount you receive will be pro-rated if you are eligible for only part of the year.
You can access your KiwiSaver savings early to purchase your first home - If you've been a member of KiwiSaver for 3 years you may be able to withdraw some of your KiwiSaver savings to put towards purchasing your first home.

What if I’m self-employed or not employed?

You can join KiwiSaver if you are self-employed or not employed.

You can make contributions directly if you’re self-employed or not currently earning either through lump sum payments or by direct debit and enjoy all of the benefits of KiwiSaver - however, you won’t receive employer contributions. These benefits include the government contribution and the ability to withdraw your savings for the purchase of your first home.

What happens if you become an employee (start earning income that is subject to PAYE)?

If you become an employee, then a different set of rules apply. The main change is that you may be required to contribute a minimum contribution rate of your taxable earnings to KiwiSaver. Your employer will need to pay on your behalf, if you are aged between 18 (or 16 from 1 April 2026) and 65.

Contributions and savings

What is the minimum contribution level for KiwiSaver?

Employees

If you are an employee you must contribute a minimum of 3% of your before tax pay. After one year you can stop contributing (i.e. go on a “savings suspension”). You can choose to increase the 3% to 4%, 6%, 8% or 10%, and to reduce it back to 3% whenever you choose.

From 1 April 2026, the default contribution rate will go up to 3.5% and then, from 1 April 2028, to 4%. For this transitional period, you will temporarily be able to opt down to the 3% rate, but may only receive employer contributions at that rate.

You can make also make regular contributions directly to your KiwiSaver account.

Non-employees (for example, self-employed, children, beneficiaries, stay-at-home spouse)

If you are not an employee, there is no minimum. You can choose not to contribute in the first year.

If you are 16 or older, saving at least $1,042.86 a year (i.e. $87 a month) until you reach your KiwiSaver retirement age maximises the government contributions.

Government contributions (GC)

What is the government contribution and how does it work?

At the end of each “KiwiSaver year” (1 July to 30 June) the government will top-up your KiwiSaver account by 25 cents for every $1 you save, up to the value of $260.72 - provided you are 16 or older, your primary residence is New Zealand, had an income of $180,000 or less for the year and you are not yet eligible for a retirement benefit.

It is up to you whether you put savings into your KiwiSaver account to get your maximum government contribution of $260.72. You can do so by making regular contributions or making a lump sum contribution before 30 June each year.

You can read more about the government contribution on the government’s KiwiSaver website by clicking here.

Where does the government contribution go?

The government contribution is paid into your KiwiSaver account and invested along with your other savings.

Do I get the government contribution in my first year in KiwiSaver?

Yes, if you are eligible. In the first year, the maximum government contribution you can receive is proportionate to the period of time you have been a KiwiSaver member. If you have only been eligible for part of the year (from 1 July to 30 June), the maximum government contribution is reduced based on the number of days you have been a member.

You must be 16 or older, have an income of no more than $180,000, and your primary residence must be New Zealand to receive the government contribution.

Do I get the government contribution in the year I turn 16?

Yes. In the year you turn 16, you will get your first government contribution. The calculation is based on the period from your 16th birthday to 30 June (which is the end of the “KiwiSaver year”). Each year after that, it will be the $260.72 maximum if you save $1,042.86 until your last year.

Do I get the government contribution in the year I turn 65?

If you reach age 65 part-way through the year, the government contribution you can receive is based on how many days in the year you have been eligible.

How can I make sure I receive the government contribution?

If you are an employee, check your payslip to see how much you are saving from your pay. If it is less than $20 a week (or $87 a month) you will not get the maximum, but you will still get a government contribution based on the amount you are saving. You can also save extra directly to SuperLife while you are saving from your pay.

If you are not an employee (for example, self-employed), you can decide how much to save and save directly to SuperLife. You get the maximum government contribution if you save $20 a week or $87 a month or $1,043 a year. You can also set up a direct debit or make a lump sum payment to save.

Accessing your KiwiSaver savings

What happens to my contributions when I reach my KiwiSaver retirement age?

When you reach your KiwiSaver retirement age:

You don’t have to contribute to KiwiSaver, but you can if you want to.
The compulsory employer contributions stop. However, some employers may choose to continue and you will need to find out if your employer will, and if yes, what the rules are.
Your contributions continue unchanged until you change them. If you are employed, you will have to tell your employer if you want to stop contributing to KiwiSaver. Otherwise, they have to keep making deductions from your pay.
If you are currently saving by direct debit to SuperLife, this will continue until you tell us to stop.

It’s important to be aware that the government contribution does not apply after your KiwiSaver retirement age. However, you are eligible for a proportion of the government contribution for the period from 1 July to when you reach your KiwiSaver retirement age. SuperLife will tell you what that entitlement is and how much you need to save to get your maximum final government contribution. These contributions need to be made before your KiwiSaver retirement age.

KiwiSaver for children under age 18

Do the government contributions also apply to children?

Government contributions do not apply to children until they turn 16.

For those 16 or older, the government pays a government contribution to their KiwiSaver account each year. The tax credit is 25 cents for each $1 of savings made that year, to a maximum government contribution of $260.72 a year.

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