If you’re contributing to KiwiSaver from your salary or wages, your employer is required to put in a minimum of 3% of your Before Tax Pay (less employer's superannuation contribution tax).
For every $1 you put into your KiwiSaver scheme account, the Government will put in 50 cents up to a maximum of $521.43 per year, if you’re 18 or over. This is called a Member Tax Credit.
If you’ve never owned a home, and you’ve been a KiwiSaver member for at least three years, you can take out all of the money both you and your employer have put in, as well as all of the investment returns, to help buy your first home.
On top of the first home withdrawal, if you’re eligible, you may also receive up to $10,000 as a HomeStart grant from the Government towards your first home.
Whether you are with a big Aussie bank or a New Zealand owned KiwiSaver specialist, the KiwiSaver Act requires your investments to be held by a licensed trustee and not the scheme provider. This means you can focus on selecting the fund that's right for you knowing your investments are being held and supervised by an independent trustee.