Frequently asked questions

Any person under the New Zealand Superannuation qualification age (currently age 65) who is entitled to permanently reside in New Zealand and is living in New Zealand (subject to some exceptions).^*

You don't need to be a current ANZ customer to join the ANZ KiwiSaver Scheme (which is managed by OnePath (NZ) Limited, as Scheme Provider, and distributed through ANZ).

No. KiwiSaver is a voluntary savings initiative.

However, apart from certain exceptions, if you are aged between 18 and 65 and start a new job, your new employer will automatically enrol you in a KiwiSaver scheme. You then have up to eight weeks to decide if you want to stay in the scheme or "opt out".

If you are not automatically enrolled (as detailed above) and are eligible for KiwiSaver, you can choose to "opt in" to KiwiSaver, or not. It's up to you.

If you don't choose your own KiwiSaver scheme and your employer has a preferred scheme, you will be automatically allocated to that scheme. If your employer doesn't have a preferred scheme, Inland Revenue will allocate you to one of six default schemes.

No. You can join any registered KiwiSaver scheme by reading your chosen KiwiSaver scheme's investment statement and completing the application form. If you don't choose your own scheme, you will be automatically enrolled in your employer’s preferred scheme.

If your employer doesn't offer a preferred scheme, and you don’t choose your own, Inland Revenue will automatically allocate you to one of the six default schemes.

If you are under 18 and start a new job you will not be automatically enrolled. 

If you are under 18 you may opt in at any time, whether you are working or not. If you are 15 or under, all your guardians will need to give their consent, and you can’t enrol yourself. If you are 16 or 17 you may apply jointly with one of your guardians, or under certain circumstances you may apply directly.

You can change KiwiSaver schemes at any time, but you can only be a member of one KiwiSaver scheme at a time.

You can elect to contribute an amount equal to 2%, 4% or 8% of your salary or wages before tax. It’s proposed the minimum member contribution rate will rise to 3% of your gross salary or wages from 1 April 2013.

You can also make lump-sum contributions at any time.

Use our ANZ KiwiSaver Scheme calculator to give you an idea of what you could potentially save with KiwiSaver!

If you are working your contributions will be automatically deducted from your salary or wages by your employer. You can also make additional contributions directly to your KiwiSaver provider or via Inland Revenue.

If you are not employed (or your salary or wages are not subject to PAYE) you can choose to make regular or lump sum contributions directly to your KiwiSaver provider or via Inland Revenue.

If you are self-employed you can join KiwiSaver. You can make lump-sum contributions (PDF 71kB) at any time or make regular payments by direct debit (PDF 283kB).

If your business is a separate entity from yourself and you pay yourself a salary, you may be able to take advantage of the tax-free employer contributions. However, the tax-free status of these contributions will be removed from 1 April 2012.

In most cases you won't have access to your savings until you reach the age of eligibility for New Zealand Superannuation (currently age 65) or until you have been a member of a KiwiSaver scheme for five years, whichever is the later (this is your "End Payment Date").

In certain circumstances (such as serious illness or significant financial hardship) you may be able to withdraw your savings before your End Payment Date. See the question "What if my circumstances change?" below.

After three years have passed since Inland Revenue received the first KiwiSaver contribution in respect of you, you may also be eligible to withdraw some of your savings to use towards your first home^*. See the ANZ KiwiSaver Scheme Investment Statement for more details about accessing your benefit.

In certain circumstances you may be able to withdraw your KiwiSaver savings before your End Payment Date. For example:

• If you are suffering, or are likely to suffer, significant financial hardship
• If you suffer a serious illness
• If you emigrate permanently to certain countries.

See the ANZ KiwiSaver Scheme Investment Statement for more details about accessing your benefit.

Your KiwiSaver scheme will automatically follow you from one job to the next. That means you only need one KiwiSaver account over your entire working life.

Yes. 12 months after your first contribution to Inland Revenue or a KiwiSaver scheme, you can apply to take a "contributions holiday". This means you can generally stop making contributions for a period of between three months and five years. At the end of the period, your contributions will resume unless you reapply to Inland Revenue to renew the contributions holiday.

If you are suffering, or likely to suffer, financial hardship, you can apply for a short contributions holiday of three months (or more if Inland Revenue agrees) at any time after you've made your first contribution.^*

If you've been a KiwiSaver member for three years or more, for the purposes of purchasing your first home, you may be able to:

• apply for a Government "first home deposit subsidy". The subsidy is administered by Housing New Zealand Corporation - to find out more about eligibility criteria and the application process, visit the Housing New Zealand website or phone 0508 935 266.
• apply to make a one-off withdrawal from your KiwiSaver account. Please contact us on 0800 736 034 if you'd like to find out more about eligibility criteria and the application process for this one-off withdrawal.
• if you qualify for a subsidy or withdrawal, the funds will be paid directly to your solicitor for the purpose of settling your house purchase.

If you're buying your first home, the Government may provide a "first home deposit subsidy" of up to $1,000 for each year you've been saving through a KiwiSaver scheme, up to a maximum of $5,000 for five years.

However, if your partner is also saving through a KiwiSaver scheme, you can combine your subsidies. You can apply for this subsidy after you've been saving through KiwiSaver for three years or more.

The subsidy is administered by Housing New Zealand Corporation - to find out more about eligibility criteria and the application process, visit the Housing New Zealand website or phone 0508 935 266.

After three years in a KiwiSaver scheme, you may be able to make a one-off withdrawal from your KiwiSaver account to help you buy your first home. You cannot withdraw the $1,000 kick-start and the member tax credits that have been made to your KiwiSaver account.

To find out the eligibility criteria and application process please call 0800 736 034.

Yes. Your obligations are outlined below.

As an employer you must:

• provide all new employees^* with a KiwiSaver information pack (supplied by Inland Revenue) and an investment statement for your preferred provider scheme (if you have one) within seven days of starting work
• act on any opt-in request, by providing information packs (and investment statements if appropriate) to employees within seven days of them giving you a KiwiSaver deduction notice
• send all member details to Inland Revenue
• deduct KiwiSaver contributions from each member's pay and forward these to Inland Revenue once a month via PAYE
• forward any opt-out requests to Inland Revenue, and refund any contributions deducted but not yet forwarded to Inland Revenue to any employee who opts out
• act on any contributions holiday notices.

Employers are generally required to match employee contributions to a KiwiSaver scheme at a minimum of 2% of their gross salary or wages^**. It’s proposed that the matching employer contribution will rise to 3% of gross salary or wages from 1 April 2013.

No. KiwiSaver is a voluntary savings initiative. However, once employees have joined they will generally remain KiwiSaver members until they reach the age of eligibility for New Zealand Superannuation (currently 65) or have been a member of a KiwiSaver scheme for five years, whichever is later.

Only people under the New Zealand Superannuation qualification age (currently age 65), who are currently living in New Zealand and entitled to permanently reside in New Zealand can join a KiwiSaver scheme. Employees on temporary work visas cannot join.

Part-time workers can join a KiwiSaver scheme; however, staff on contracts of 28 days or less will not be automatically enrolled in KiwiSaver.

Workers aged under 18 are not automatically enrolled into a KiwiSaver scheme. They can join at any time by "opting in"; however, they will not be eligible to receive member tax credits or matching employer contributions until they turn 18. Workers aged under 18 who are not on a contributions holiday are required to contribute a minimum of 2% of their salary or wages. It’s proposed that the matching employer contribution will rise to 3% of gross salary or wages from 1 April 2013.

If you're self employed you can join a KiwiSaver scheme. If your business is a separate entity to yourself and you pay yourself a salary you may be able to take advantage of the tax-free employer contributions. However, the tax-free status of these contributions will be removed from 1 April 2012.

You must enrol eligible staff members aged 18 to 65 who are not already KiwiSaver members (unless you are an exempt employer). They then have up to eight weeks to decide if they want to remain a KiwiSaver member or "opt out".

Because KiwiSaver accounts automatically follow employees from one job to the next, new staff may already have a KiwiSaver account when they join your organisation. If that is the case, you only need to deduct contributions from their salary or wages and forward them to Inland Revenue.

Eligible employees can opt in to a KiwiSaver scheme at any time by giving you a deduction notice - or enrolling directly in a KiwiSaver scheme.

• Sign the Preferred Provider Agreement and return it to ANZ Managed Funds, Freepost 324, Wellesley Street, Auckland 1141.
• OnePath will instruct Inland Revenue that the ANZ KiwiSaver Scheme (which is offered and managed by OnePath (NZ) Limited, as Scheme Provider, and distributed through ANZ) is your preferred provider.
• ANZ KiwiSaver Scheme Preferred Provider Agreement (PDF 45kB)

You'll be sent ANZ KiwiSaver Scheme start-up packs (which include the ANZ KiwiSaver Scheme Investment Statement) for you to distribute to your staff.

No. Employees don't need to be ANZ customers to join the ANZ KiwiSaver Scheme.

If you don't offer a preferred provider KiwiSaver scheme, employees simply choose their own scheme. If an employee does not choose their own scheme, the Inland Revenue will allocate that employee to a default scheme.

Subject to the KiwiSaver Act 2006 and the KiwiSaver Regulations 2006, employers are required to make matching employer contributions to KiwiSaver schemes in respect of their eligible employees.

The compulsory employer contribution is an amount equal to 2% of an employee's gross salary or wages^**. It’s proposed that the matching employer contribution will rise to 3% of gross salary or wages from 1 April 2013.

Over and above the level of any compulsory employer contributions (currently capped at 2%, but it’s proposed that the matching employer contribution will rise to 3% of gross salary or wages from 1 April 2013) you can contribute as much or as little as you like, and set your own rules and conditions around those additional contributions you make.

Until 1 April 2012, employer contributions above the maximum of 2% of the employee's gross salary or wages will be subject to employer's superannuation contribution tax (ESCT). After 1 April 2012, all employer contributions will be subject to ESCT.

As an employer you are responsible for passing on all employee contributions to Inland Revenue as part of your monthly PAYE process.

You'll be required to keep KiwiSaver records in the same way you keep PAYE records. This includes which of your employees are KiwiSaver members, their contribution rates, and any notification of contributions holidays or opt outs.

No. Neither you nor any of your staff are expected to provide financial advice. The Inland Revenue will provide you with KiwiSaver information packs to give to your employees. These packs explain how KiwiSaver works, and tell employees how they can receive more information.

If you are only passing on information about KiwiSaver to your employees, or choosing a preferred provider KiwiSaver scheme for your employees, you will not be liable as an investment adviser or promoter.

• KiwiSaver information on the Inland Revenue website