Change your contribution rate
You can contribute 3%, 4% or 8% of your before-tax pay. Changing your rate is easy.
Employees
You can choose to contribute 3%, 4% or 8% of your before-tax pay.
The default rate is 3% and this is the minimum that you can contribute. If you already contribute this amount then you won't be able to pay less, unless you are eligible for a contributions holiday.
You can change your contribution rate once every 3 months, unless your employer agrees to a shorter timeframe. To do this you need to let your employer know in writing.
You can do this:
- by letter, indicating your new rate (3%, 4% or 8%) or
- by completing a KiwiSaver deduction form (KS2) and giving it to your employer.
Non-employees
If you're not an employee - for example, you're:
- self-employed
- a contractor
- not working
- receiving a benefit
then the contribution rate you have to pay will be set out in the contract you have with your KiwiSaver provider. There may be:
- a minimum annual sum
- specific payment periods that apply, such as monthly or quarterly.
If you want to reduce or increase the contribution you make, you'll need to talk to your KiwiSaver provider.
