KiwiSaver
New Zealand's voluntary retirement savings scheme. You contribute a percentage of your salary (3%, 4%, 6%, 8%, or 10%), your employer matches at least 3%, and the government contributes up to $521/year. Money is locked until age 65 (with exceptions for first home and hardship).
KiwiSaver is New Zealand's workplace savings scheme, designed to help Kiwis save for retirement. It's voluntary but most employed New Zealanders are enrolled.
Here's how it works: you choose a contribution rate (3%, 4%, 6%, 8%, or 10% of your gross salary). Your employer must contribute at least 3%. The government adds a tax credit of up to $521.43 per year if you contribute at least $1,042.86.
Your money is invested by a KiwiSaver provider (like ANZ, ASB, Fisher Funds, Simplicity, or many others) in a fund type you choose — from conservative to aggressive growth. The fund you're in makes a big difference to your returns over time.
You generally can't withdraw until age 65, but there are two main exceptions: buying your first home (after 3+ years of contributions) and significant financial hardship.
Why this matters
KiwiSaver is the single most important financial tool for most New Zealanders. Between your contributions, your employer's match, and the government contribution, your money effectively gets an immediate return before any investment growth. If you're not maximising your employer match (at least 3%), you're leaving free money on the table.
Learn more
Read our guideRelated KiwiSaver terms
KiwiSaver First Home Withdrawal
After 3+ years of contributing, you can withdraw most of your KiwiSaver balance to buy your first home. You must leave $1,000 in the account.
First Home Grant
A government grant of $3,000-$10,000 per person for first home buyers who've been contributing to KiwiSaver for 3-5+ years and meet income caps ($95K individual / $150K combined).
PIE Tax
Portfolio Investment Entity tax. The tax rate on your KiwiSaver and managed fund returns. Your rate depends on your income: 10.5% (under $14K), 17.5% ($14-48K), or 28% (over $48K). Set it correctly to avoid overpaying.
Conservative Fund
A KiwiSaver or managed fund that invests mostly in bonds and cash. Lower risk, lower returns. Suitable if you're close to retirement or plan to withdraw soon.
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