Fisher Funds KiwiSaver Plan

Contributions

Employer & government contributions

If you’re aged between 18 to 65 years old, working and contributing to KiwiSaver, your employer must contribute at least 3% of your pre-tax salary or wages.

You may receive a government contribution of up to $260.72 a year (25 cents for every $1 you contribute up to a maximum of $1,042.86) if you meet all of the following criteria.

• You're a member of a KiwiSaver scheme
• You're between the ages of 16 and 65
• You mainly live in New Zealand
• You have a taxable income of $180,000 or less per annum
• You haven't made a life-shortening congenital condition withdrawal.

If you meet the eligibility criteria for part of the KiwiSaver year, your government contribution will be pro-rated.

Your contributions

• If you’re working you can choose to contribute 3%, 4%, 6%, 8% or 10% of your pre-tax salary or wages. If you don’t choose a contribution rate, the default rate is 3%. Money will automatically be deducted from your pay and sent to Fisher Funds via Inland Revenue.
• If you’re self-employed or not working, you can contribute directly. With Fisher Funds, you can make direct contributions through internet banking, bill payment or direct debit of any amount.
• If you’re self-employed and pay yourself through the PAYE system you'll be treated as an employee and must make employer contributions.
• All investors can also make voluntary lump sum or regular contributions at any time.

Getting your money out

When you turn 65

You can get your money out when you reach 65. See the Fisher Funds KiwiSaver Plan Product Disclosure Statement for more information about withdrawals over at fisherfunds.co.nz.

Before you turn 65

Your KiwiSaver investment is generally locked in until you turn 65, but there are limited circumstances where you may be able to withdraw some or all of it before then:

• Buying your first home
• Serious illness, including injury, illness or disability that results in you being totally and permanently unable to engage in work for which you're suited by reason of experience, education or training, or any combination of those things; or that poses a serious and imminent risk of death.
• Significant financial hardship
• Life shortening congenital condition
• Permanent emigration
• If you’ve transferred money from an Australian complying superannuation scheme, when you reach age 60 and satisfy the Australian ‘retirement’ definition.

Depending on what type of withdrawal you're making it generally can take between 10 – 15 working days to process.

When a KiwiSaver member dies

If you pass away while you're a member of a KiwiSaver scheme, upon application to that scheme, your full account balance will be paid to your estate.