Comprehensive details about how KiwiSaver works can be found at, however, here is Stewart Group’s summary:

  • Up to $521.43 pa member tax credit (if aged 18 or over) if you contribute at least $1,042.86 each year ending 30 June;
  • If you are an employee, contributions are automatically deducted from your pay;
  • Compulsory minimum contribution from your employer of 3%;
  • Those under 18, self-employed or not employed can make voluntary contributions any time and of the amount they choose;
  • Access to a KiwiSaver HomeStart grant (qualifying conditions apply);
  • Ability to withdraw some of your balance for a first home purchase;
  • An easy way to start saving for your retirement and get saving;
  • Accessible to funds if you really need to (ie financial hardship or serious illness); and
  • Ability with some KiwiSaver providers to transfer your overseas pension/superannuation fund into your KiwiSaver scheme account.