KiwiSaver makes saving for your retirement easy. Contributions are deducted directly from your pay before you even receive it, so you aren’t faced with the temptation of spending money you could be saving.

The KiwiSaver contributions you’ll build up mean that when you retire you should have a tidy nest egg investment to help you enjoy your post-working life. You can access your KiwiSaver savings once you reach NZ Superannuation age (current age is 65) or after five years in the Scheme (the later of the two). 

KiwiSaver comes with some great benefits and incentives, including:

• a $1,000 “kick-start” from the Government

• a tax credit of up to $20 a week (a maximum of $1,042.86 per year)

• compulsory employer contributions have doubled to 2% of gross salary/wages on 1 April 2009

• you may be able to use part of your KiwiSaver savings to provide a deposit on your first home (or in cert ain circumstances, your subsequent home)

• you may be eligible for a first-home deposit subsidy of up to $5,000 (conditions apply)