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KiwiSaver members may need to contact you to:
Existing employees can join KiwiSaver either through their employer or by contacting you directly. Self-employed people, beneficiaries and people under 18 can only join by contracting directly with you.
For members who earn salary or wages, the minimum contribution is 3% of their before-tax pay. They can choose to save 4%, 6%, 8% or 10% instead, and can switch between these rates. Members who contract with you directly and who do not earn salary or wages need to agree their contribution rate with you. If they go on to earn salary and wages they will then have contributions deducted from their pay.
People who don't have contributions automatically deducted, such as self-employed people, can make regular contributions, at a rate agreed with you.
Employees can choose to contribute more than 10%, although amounts above this are not covered by the government guarantee.
Employees can also make one-off lump sum contributions directly to you or through Inland Revenue as a voluntary contribution in addition to their usual salary or wage deductions.
People on an income-tested benefit will not have KiwiSaver contributions deducted from their benefit. They can choose to make voluntary contributions to Inland Revenue or direct to you.
KiwiSaver members who receive weekly compensation from ACC will be able to choose whether to have KiwiSaver contributions deducted from their payments.
Generally, KiwiSaver members can't access their savings until they're 65.
There are special circumstances when they may be able to make an early withdrawal. These include:
If a member withdraws all of their accumulated contributions, excluding the government contributions, their account remains open for future contributions.
A member ceases to be a member when their accounts have a nil balance and you give notice that their membership is terminated. This can occur when: