What is KiwiSaver?

KiwiSaver is a voluntary work-based savings initiative that makes it easier for you to save for your future. KiwiSaver makes it easier to save because money is put into a KiwiSaver scheme from your weekly, fortnightly or monthly pay.

Once you join KiwiSaver your savings are locked-in until you reach the age of eligibility for New Zealand Superannuation (currently 65), or for five years for people who join after age 60.

KiwiSaver offers a number of benefits including:

- An annual tax credit to your KiwiSaver account of up to $10 per week (approximately $520 per annum). Conditions apply
- Compulsory contributions from your employer

Who can join?

You can join KiwiSaver if you’re:

- Under the age of eligibility for New Zealand Superannuation (currently 65),
- A New Zealand citizen, or entitled to live in New Zealand indefinitely, and
- Living or normally living in New Zealand.

Enrolment in KiwiSaver will be automatic for all those starting a new job (with some exceptions), although employees automatically enrolled will have the chance to opt out (within a specified timeframe).  Other people can choose to opt in to KiwiSaver but can’t then opt out.