FAQs

  • Who can enrol in the Kiwibank KiwiSaver Scheme?

    You can enrol in the Kiwibank KiwiSaver Scheme either directly or indirectly through your employer if you’re:

    • aged below the standard qualifying age for New Zealand superannuation (currently 65); and
    • living or normally living in New Zealand; and
    • a New Zealand citizen (or entitled to permanent residence in New Zealand); and
    • if we agree, where you want to enrol by contracting directly with us.

    You may also be eligible to enrol in the Kiwibank KiwiSaver Scheme if you’re an employee of the State services serving outside New Zealand, employed on New Zealand terms and conditions and in a jurisdiction where offers of membership in the Kiwibank KiwiSaver Scheme are lawful.

    You can only be a member of one KiwiSaver scheme at a time.

  • How much do I pay?

    If you’re employed, you can currently choose to contribute 2%, 4% or 8% of your before-tax salary or wages. You must contribute at least at the 2% rate. The Government may change the contribution rates from time to time. Your employer will deduct your contributions from your after-tax salary or wages and pay them to Inland Revenue. Try the Sorted calculator for more detail.

  • Can I make voluntary contributions?

    You can choose to make additional voluntary contributions to the Kiwibank KiwiSaver Scheme on a regular or lump sum basis.

    Additional regular contributions or additional lump sum contributions must be at least $20 and can be made to the Kiwibank KiwiSaver Scheme by:

    • direct debit on a weekly or fortnightly basis (on a Thursday) or on a monthly basis (on the last business day of the month). You can set up a direct debit by completing the direct debit form at the back of the investment statement and sending it to us;
    • bill payment. You can set up a bill payment with your bank or, if you’re a Kiwibank customer, via internet banking;
    • personal cheque, payable to Trustees Executors Superannuation Limited on a/c of Kiwibank KiwiSaver Scheme. You can drop your cheque in to your local Kiwibank, or send it to us;
    • cash deposit, payable at your local Kiwibank; or
    • transfer via internet banking.

    If you’re employed, you can also make additional regular and lump sum contributions of $20 or more to Inland Revenue at any of their offices or by way of an internet banking payment.

  • What are the charges?

    See the fees page for full details on the Kiwibank KiwiSaver Scheme charges.

  • When can I get my money?

    Unless you satisfy the early withdrawal criteria, you may not make a withdrawal from the Kiwibank KiwiSaver Scheme until the later of:

    • the date you become eligible to receive New Zealand superannuation (currently 65); or
    • the date on which you have been a member of any KiwiSaver scheme (and/or Complying Superannuation Fund) for five years.

    After that date, you can withdraw all or part of your entitlement at any time.

    There are some circumstances in which you can apply to withdraw your entitlement early. Please see the KiwiSaver website for details www.kiwisaver.govt.nz.

  • Can I change my contributions?

    If you’re employed, you can change your required contribution rate between 2%, 4% and 8% of your before-tax salary or wages at any time by notifying your employer of your new contribution rate. You can’t change your required contribution rate more often than every three months unless your employer agrees. Your new contribution rate will apply to the next salary or wage payment after your employer receives your instruction.

    If you’re self-employed or not working, you can make lump sum contributions or change your regular contribution amount. Regular and lump sum contributions must be at least $20.

  • How do I change funds or investment options?

    Making changes is easy. You can change funds or investment options via Kiwibank Internet Banking, by calling us on 0800 11 33 55, or at your local Kiwibank. After the first two changes, a switch fee may apply.

  • Who do I contact with inquiries about my investment?

    Inland Revenue

    You can visit the Inland Revenue’s website at www.ird.govt.nz/kiwisaver/ for more information on KiwiSaver schemes generally, or you can call Inland Revenue on 0800 549 472 (or +64 (4) 978 0800 from overseas).

    You’ll need to contact Inland Revenue if you need information about your contributions during the first three months after you enrol, and if you want to apply for a contributions holiday.

    Housing New Zealand

    You can visit the Housing New Zealand website at www.hnzc.govt.nz for more information on the first home withdrawal and first home purchase subsidy, or you can call them on 0800 801 601.

    Your employer

    You’ll need to notify your employer if you want to change your required contribution rate between 2%, 4% and 8% of your before-tax salary or wages.

    General enquiries

    For other enquiries, contact us.

    Kiwibank Investment Management Limited

    Level 1, New Zealand Post House
    7–27 Waterloo Quay
    Wellington

    Postal address:

    Kiwibank Investment Management Limited
    Level 1, New Zealand Post House
    7–27 Waterloo Quay
    Wellington 5045

    Telephone: 0800 11 33 55
    From overseas: +64 (4) 473 11 33
    Fax: (04) 462 7996
    Email: service@kiwibank.co.nz

    Complaints

    Any complaints or problems with Kiwibank KiwiSaver should be directed to us.

    If you’re not satisfied with the outcome of your enquiry to us, you can contact the Trustee.

Conditions

A disclosure statement required under the Financial Advisers Act 2008 is available, free of charge, from your Kiwibank Wealth Adviser or on request by calling 0800 529 325. The issuer of the Kiwibank KiwiSaver Scheme is Trustees Executors Superannuation Limited and the promoters are Kiwibank Investment Management Limited, Kiwibank Limited and their directors. Units in the Kiwibank KiwiSaver Scheme do not represent deposits or other liabilities of Kiwibank Limited. Download the pdfInvestment Statement (PDF 2.3 MB) for the Kiwibank KiwiSaver Scheme or pick up a copy from your local Kiwibank.