KiwiSaver Benefits
The Benefits Can Make A Very Real Difference To Your Life
Benefits for Employees >>
- A $1,000 kick-start contribution from the government.
- If you are 18 or over, the government will currently match your contributions up to the equivalent of $20 per week ($1,042.86 per year)**. Also, if you are 18 or over, your employer must (in most cases) contribute 2% of your gross Salary or Wages while you are contributing to KiwiSaver from your Salary or Wages.**
- If you need help buying your first home, there are two big incentives:*
- the ability to withdraw all of your contributions, your employer's contributions and your investment returns to put towards buying your first home; and
- you may be eligible for a first home government subsidy of up to $5,000.
- You may also be eligible for both the subsidy and the first home withdrawal as a "second-chance" home buyer if you are in the same financial situation as a first home buyer.
* Conditions apply
** You must also be below your KiwiSaver End Payment Date (the later of New Zealand Superannuation age, currently 65, and 5 years' membership).
Benefits for Self-Employed / Not-Employed >> (18 or over and you do not receive salary or wages through PAYE)
- A $1,000 kick-start contribution from the government.
- The government will match your contributions up to the equivalent of $20 per week ($1,042.86 per year)**, so if you contribute at least this amount then you receive the most benefit from KiwiSaver. The Huljich KiwiSaver Scheme does not have a minimum contribution amount.
If you need help buying your first home, there are two big incentives:*
- the ability to withdraw all of your contributions, your employer's contributions and your investment returns to put towards buying your first home; and
- a first home subsidy of up to $5,000.
You may also be eligible for both the subsidy and the first home withdrawal as a "second-chance" home buyer if you are in the same financial situation as a first home buyer.
* Conditions apply
** You must also be below your KiwiSaver End Payment Date (the later of New Zealand Superannuation age, currently 65, and 5 years' membership).
Benefits for Minors (under 18) >>
- A $1,000 kick-start contribution from the government.
Once they turn 18, they will be eligible for all of the KiwiSaver incentives including the following:
- the government will currently match their contributions up to the equivalent of $20 per week ($1,042.86 per year);**
- if they are employed, their employer must (in most cases) contribute 2% of their gross Salary or Wages while they are contributing to KiwiSaver from their Salary or Wages**; and
If they need help buying their first home, there are two big incentives:*
- the ability to withdraw all of their contributions, their employer's contributions and their investment returns to put towards buying your first home; and
- they may be eligible for a first home government subsidy of up to $5,000.
- they may also be eligible for both the subsidy and the first home withdrawal as a "second-chance" home buyer if they are in the same financial situation as a first home buyer.
Given that there is no cost to join KiwiSaver and the Scheme does not have a minimum contribution amount, everyone under the age of 18 should consider joining. KiwiSaver is also a wonderful way to teach your children or grandchildren to save - you decide how much or how little you would like to contribute to their KiwiSaver account.
* Conditions apply
** They must also be below their KiwiSaver End Payment Date (the later of New Zealand Superannuation age, currently 65, and 5 years' membership).