The Government wants to give you an extra $521.43 every year into your Kiwisaver for FREE! It’s called the annual Government Contribution.
If you’re eligible, for every $1 you put into your Kiwisaver, the government will contribute $0.50 up to a maximum of $521.43 each year. If you do not contribute $1042.86 in the year, the government will still contribute 50 cents for every dollar you save. For example, if you contribute $50 you will get a government contribution of $25.
If you tick every eligibility box on this list for the year 1st July to 30th June, you’ll automatically receive the full contribution;
- You’re a member of a Kiwisaver Scheme,
- You’re 18 years or older,
- You mainly live in New Zealand,
- You can’t make Kiwisaver retirement withdrawals yet, and
- You’ve contributed at least $1042.86 into your Kiwisaver account.
If you turn 18 during the year, become eligible for retirement withdrawals or join KiwiSaver part way through a year, you’ll still earn the annual Government contribution for the days that you’re eligible.
There is no application needed, no paperwork, no process. Your Kiwisaver provider will make the claim on your behalf, and the contribution will appear in your Kiwisaver account within a month.
By making sure you contribute at least $1,042.86 into your Kiwisaver account each year you could be looking at up to an additional $20,000 for your retirement!
Invest in your future TODAY, by setting you and your family up for Kiwisaver.
Check your contributions by visiting your “MyIR Login” here https://www.ird.govt.nz/kiwisaver