KiwiSaver

All new eligible employees must be automatically enrolled in KiwiSaver unless they are:

Under 18 years of age
Casual agricultural workers or Election Day workers
Private domestic workers
Casual and temporary employees employed under a contract of service that is 28 days or less
Have completed the opt out form.

Eligible existing employees who are not already members can join the scheme at any time by notifying their employer.

Employees can elect to make contributions at either 3%, 4% or 8%. If an employee does not elect a rate then the default rate of 3% is used.

It is compulsory for employers to contribute to their employees’ KiwiSaver scheme at a rate of 3%.

Benefits of Kiwisaver are:

Government Pays annual member tax credit (for those 18 and over) of up to $521.43
Funds first home deposit subsidy through Housing NZ if the relevant criteria are met
Employer matches your contributions up to 3%.

Employers must:

Give new employees and other existing staff, who are interested, an Employee information pack (KS3)
Pass employees’ details to Inland Revenue to enable them to be enrolled
Deduct contributions from employees’ gross salary and pay these to IRD through the PAYE system.

For more information call us or refer to the KiwiSaver for Employers on the IRD website.