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KiwiSaver Poua he Oranga

What is KiwiSaver?

KiwiSaver is a voluntary, work-based savings initiative to help New Zealanders with their long-term saving for retirement. It's designed to make it easy for people to maintain a regular savings pattern.

KiwiSaver scheme providers will offer a variety of schemes with different investment options, from conservative to growth funds.

Work-based saving

For most people, KiwiSaver will be work-based. This means they will receive information about KiwiSaver from their employer, and their KiwiSaver contributions will come straight out of their pay.

KiwiSaver in retirement

NZ Super is intended to provide a basic standard of living in retirement, but it may not be enough for the kind of retirement many people want. KiwiSaver is intended to complement NZ Super, to provide a higher level of income in retirement.

Government initiative

The Government created the framework for the KiwiSaver savings initiative, to help New Zealanders financially prepare for their retirement.

The Government will encourage people to save by offering membership benefits, including an annual member tax credit. Some people may also be eligible for help with the deposit on their first home. From 1 April 2008 members benefit from employer contributions to their savings.