Savings suspension process

Your savings suspension begins on the date Inland Revenue approves it.

Note: Prior to 1 April 2019 a savings suspension was called a contributions holiday.

Your savings suspension begins on the date Inland Revenue approves it.

You'll receive a savings suspension notice confirming the start and end dates for your savings suspension - you need to keep this notice.

Your employer will continue making deductions until they have seen this notice. If you've lost your savings suspension notice you can get a replacement notice through your myIR account or by contacting Inland Revenue.

Notifying your employers

The fastest way to stop deductions from your pay is to show your savings suspension notice to your employer as soon as you receive it.

If you nominate your employer(s) when you apply, Inland Revenue will advise them to stop:

  • deductions from your pay, and
  • employer contributions.

Changing jobs during your savings suspension

If you change jobs while you have a saving suspension, you'll need to show your new employer your notice.

Restarting contributions early

You can restart your contributions before your savings suspension expires, just ask your employer to restart deductions from your pay.

Deductions made while you're on a savings suspension

If a notice was provided to your employer and they didn’t stop deductions, you may contact Inland Revenue to have the amount refunded. If a refund is approved, your employer can also choose to have their compulsory employer contributions refunded to them.

When your savings suspension is nearly over

When your savings suspension has one month left Inland Revenue will send you a reminder. If you wish to you can apply for another savings suspension.

When your savings suspension expires

When your savings suspension expires, Inland Revenue will ask your employer(s) to start deducting KiwiSaver contributions from your pay and start making employer contributions.