For many people, KiwiSaver will be work-based which means that your KiwiSaver contributions will come straight out of your pay.
- If you are employed and choose to join, contributions are deducted from your pay at the rate of 3%, 4% or 8% (you choose the rate) and invested for you in a KiwiSaver scheme.
- If you’re self-employed or not working, you agree with your KiwiSaver provider how much you want to contribute, and make payments directly to them. You DO NOT have to contribute if you do not wish. If you do contribute, the government will put in 50 cents for every dollar you contribute up to a maximum of $521. (So if you put in $1,043, the government will give you $521)
- Children can also join. They will start to contribute when they start to work, but are NOT entitled to the Government tax credit ($521) till age 18.