KiwiSaver benefits



A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life.

Member Tax Credit:
This credit depends on how much you deposit into your account each year. The government will pay 50 cents to every dollar up until you’ve reached the maximum government payment of $521.43.The government will help you save by making an annual contribution to your account as long as you fit their guidelines.

  • You are 18 years or older
  • Mainly reside in New Zealand (exceptions for government employees serving overseas, regulated volunteer work or meets requirements under the Student Loan Scheme Act 2011)

Compulsory employer contributions:
Provided you are a member making contributions from your pay, your employer has to put money in, equalling 3% of your pay. Since 2012, employer contributions have been liable for tax, meaning their additions may be reduced.

KiwiSaver HomeStart Grant:
Having contributed to your account for three to five years, you could be entitled to the HomeStart Grant. There are two types of grants available:

  • When purchasing an existing home, a grant can be between $3,000-5,000 based on $1,000 each year of membership
  • When building/purchasing a new home or land on which to build a home, a grant can be doubled to $2,000 each year of membership, making the maximum amount $10,000.

Whilst eligibility criteria applies, if you have owned a home before you may still qualify under certain circumstances. Housing New Zealand would be the ones to determine if you are eligible to receive funding.

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