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What do employees need to do?

You can contribute 3%, 4% or 8%. Please note that this is 3%, 4% or 8% of your pre-tax income. For example, if you earn $100,000 and choose 4%, $4,000 would be credited to KiwiSaver, but you will still pay tax on that amount. We recommend that you contribute 3%. This will ensure that you maximise both the member tax credit (depending on the level of your income) and the mandatory employer contribution.

If your income is below $34,700 and your contribution is 3%, you won’t get the maximum $520 Government contribution. So we recommend making a voluntary contribution up to $1,040 each year to ensure you get the maximum tax credit.

What do the self-employed or those currently not in the workforce need to do?

We recommend signing up directly with one of the scheme providers and contributing $20 per week. This will ensure that you maximise the member tax credit.