KiwiSaver is a voluntary long term savings scheme designed to encourage New Zealanders to save for their retirement. It is open to all New Zealand citizens and permanent residents aged up to 65.
The Government will contribute up to $5,000 to an account holder’s first home purchase. If you are over 18 the Government will also match your KiwiSaver contributions up to $10 p.w.
Employers are obliged to automatically enrol all new employees who are:
- Between 18 and 65 years of age
- New Zealand citizens or permanent residents
- Employed for more than 28 days
- Not already a KiwiSaver member.