Contributions from your employer
If you're eligible, your employer will also contribute to your KiwiSaver savings.
If you're a KiwiSaver member making contributions from your pay, your employer also has to put money in. This is equal to 3% of your pay.
Your employer does not have to make compulsory contributions to your KiwiSaver account if:
- they are already paying into another eligible registered superannuation scheme for you (if your existing scheme meets certain criteria)
- you are under 18 years of age
- you are over 65 years of age, or have been a member of KiwiSaver for five years, whichever date is later
- you are not contributing (for example on a contributions holiday or on leave without pay).
Tax on employer contributions
From 1 April 2012 all employer superannuation cash contributions (employer contributions) will be liable for tax. This means that the employer contributions being paid into your KiwiSaver account may be reduced.