KiwiSaver is New Zealand’s voluntary, government‑supported long‑term savings scheme, mainly designed to help people save for retirement.
KiwiSaver is a workplace savings scheme where money is regularly put aside and invested over many years. It began in 2007 and is run by approved private fund providers but supported by the New Zealand Government.
You can join if you are:
A New Zealand citizen, or
Entitled to live in New Zealand indefinitely
If you’re employed:
You contribute 3.5%, 4%, 6%, 8%, or 10% of your gross pay
Your employer must contribute at least 3.5%
Contributions are taken directly from your pay
Generally, your money is locked in until:
Retirement age (currently 65), or
Buying your first home (after at least 3 years of contributions)
Other limited withdrawal situations include:
Serious illness
Significant financial hardship
Permanent emigration (excluding Australia)
Note: Employees are usually automatically enrolled when starting a new job, but they can opt out. Others (including self‑employed or not working) can join voluntarily.
For more information on KiwiSaver please refer to Inland Revenue