Being a KiwiSaver member

Membership of KiwiSaver is voluntary, and if you've been automatically enrolled you have the right to opt out. Employers play an important role in the administration of KiwiSaver. Each pay day your contribution is deducted from your pay for investment through your KiwiSaver account. You can choose to save 4%, or 8% to speed things up. You can also choose to take a temporary break from saving, known as a contributions holiday.

Who can join?

You can join KiwiSaver if you're:

a New Zealand citizen, or entitled to live in New Zealand indefinitely, and
living or normally living in New Zealand, and
under the age of 65.

How to join

Joining KiwiSaver is easy - if you're eligible to join:

you'll be automatically enrolled when you start a new job, or
you can choose to join.

Under 18 year olds can only join by contacting a scheme provider directly.

Opting out

If you're a new employee who is subject to automatic enrolment and don't want to become a KiwiSaver member, you can choose to opt out. You can do this after you've been in your job for at least two weeks, but before your ninth week starts (from day 14 to day 56 from the day you start your new job). If you don't opt out in this timeframe you'll remain a KiwiSaver member.

Role of your employer

Employers play an important role in KiwiSaver. Your employer gives you a KiwiSaver employee information pack (KS3) and deducts your KiwiSaver contributions from your pay. Your employer also helps you save by making compulsory employer contributions to your KiwiSaver account.

Your pay and contributions

Each payday your KiwiSaver contributions are deducted from your pay. You can choose to save 4% or 8% of your gross pay. Inland Revenue ensures the safe transfer of your money to your KiwiSaver scheme provider, who invests the money for you in a KiwiSaver scheme. If you have more than one job, you can choose which of your job(s) to have KiwiSaver deducted from.

If your circumstances change

If you find it difficult to manage your KiwiSaver contributions, after a year in KiwiSaver you can take a break from saving, called a contributions holiday. In cases of financial hardship you can apply for an early contributions holiday. Other changing circumstances that affect your KiwiSaver membership include moving overseas, being declared bankrupt or your death.