Saving with KiwiSaver
With KiwiSaver, a little bit of planning goes a long way. KiwiSaver is a government managed savings scheme, which you contribute to regularly out of your pay. You can contribute 3, 4 or 8 percent of your income, which is deducted from your pay by your employer.
Additionally, your employer is also required to contribute 3% of your income when you’re actively contributing to KiwiSaver. What’s more, for every dollar you contribute up to $1,042.86, the government will give you a Member Tax Credit of 50 cents – so you could get up to $521.43 extra into your account each year.
Once you’re saving, it’s really important that you choose the right fund for your needs. At Kiwi Advisers, we’ll help you work through this process, so you have confidence that your savings are working for you.
You are able to access your KiwiSaver to help with a deposit for your first home, when you turn 65, or if you suffer financial hardship.
For more information about KiwiSaver, head to the KiwiSaver website, or if you want to know what your savings might be worth, try the Sorted calculator below: