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How KiwiSaver works


Your role in KiwiSaver

If you're a salary or wage earner your employer enrols you in KiwiSaver when you start a new job. You can stay enrolled, or you can opt out.

If you’re already employed but not a KiwiSaver member you can join either through your employer or through a Kiwisaver provider. Once you’ve joined, you will not be able to opt out.

If you stay enrolled you'll contribute either 3%, 4%, 6%, 8% or 10% of your before tax pay. You choose the rate. You'll contribute through wage deductions.

If you're self-employed or not working, contact a provider and talk to them.

An employer's role in KiwiSaver

Employers give new employees and other staff who ask a KiwiSaver employee information pack - KS3. They send us details of new employees so they can be automatically enrolled. Employers also handle requests by new employees to opt-out of KiwiSaver.

Employers make KiwiSaver deductions from their employees’ pay. They also make a compulsory minimum contribution of 3% towards their employee’s KiwiSaver fund. An employer will also stop payments if their employee has a savings suspension, or if they’re given notice by us or their employee that contributions are to stop.

Employers cannot give you financial advice.

Our role in KiwiSaver

Employers pay employee deductions and employer contributions to us with the rest of their payroll deductions like tax.

We also manage voluntary contributions from employees, self-employed people and those not working. Any money paid to us for KiwiSaver we pass on to KiwiSaver providers. We also administer requests for opt-outs and savings suspensions.

We will allocate you to a default scheme if you don’t make a choice.

We cannot give you financial advice.

KiwiSaver providers role in KiwiSaver

KiwiSaver scheme providers invest their members’ KiwiSaver contributions to make a greater return on the savings for their retirement. They also have the main relationship with members.

KiwiSaver providers with staff who are registered financial advisors can give you advice.

The government's role in KiwiSaver

The government pays a yearly KiwiSaver contribution to members. The amount paid depends on how much a member has contributed to their fund. The maximum amount the government pays is $521.43. KiwiSaver providers apply for the government contribution for their KiwiSaver members.