What do I need to know about KiwiSaver?

 

KiwiSaver is a voluntary work based savings scheme to help New Zealanders with their long term saving for retirement.

Employers are required to make it available to new staff aged 18 to 64 years old who are NZ residents and people entitled to live here permanently.  This excludes:

  • Casual and temporary employees employed under a contract of service that is 28 days or less
  • Those under 18
  • Election day workers
  • Private domestic workers

All other existing employees may join the KiwiSaver scheme at any time they choose to do so.

Contributions to this scheme for enrolled employees are deducted from the employees’ pay and are paid to IRD together with the compulsory employer contributions the employer is required to make to KiwiSaver for their employees.

If you have any queries whatsoever, don’t hesitate to contact your wellington accountant.

 

 

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