Why Should I Join KiwiSaver?
KiwiSaver is an attractive long-term savings scheme for your retirement. The additional incentives from the Government will help your investment grow and the sooner you begin investing into KiwiSaver, the more you will have at retirement.
KiwiSaver incentives grow your investment faster
If you join KiwiSaver you will…
- Receive a one-off $1,000 kick-start from the Government
- Receive up to $521.43 pa in member tax credits from the Government if you make a contribution of $1042.86 or more each year.
And if you’re an employee…
- You will have your contributions matched by your employer up to a maximum of 2% of gross pay (subject to agreement with your employer, your employer may elect to contribute above 2% of your gross pay). The Government has announced a proposal in the 2011 Budget that the compulsory minimum employer contribution rate will rise from 2% to 3% of the employee’s gross salary or wages with effect from 1 April 2013. Find out more
Or if you’re self employed or a non-worker…
- You can decide how much you contribute into KiwiSaver (certain conditions may apply), see our Investment Statement for details
- The graph below demonstrates how much better off an employee could be at retirement by joining KiwiSaver sooner rather than later
- The graph is an illustration using an average investment return of 5% pa (after fees and taxes) and does not represent any indication of future performance.
Please note: the Government has proposed changes to KiwiSaver which will become law if the National Party is re-elected at the General Election in November 2011.
Find out more
This graph assumes starting salaries rise steadily at 3% per annum until age 65 and employees contribute 2% of their salary to their KiwiSaver Scheme, which is matched by their employer. This graph includes the $1000 kick-start and member tax credit (Government incentives of KiwiSaver). All value amounts are shown in today’s dollar terms. The graph above is an illustration using an average investment return of 5% pa (after fees and taxes) and does not represent any indication of future performance.
Can you afford KiwiSaver?
Use the table below to gauge how much you will need to contribute to your KiwiSaver scheme.
| Your contribution per month |
| Annual salary |
2% |
4% |
8% |
| $10,000 |
16.67 |
33.34 |
66.67 |
| $20,000 |
33.33 |
66.67 |
133.33 |
| $30,000 |
50.00 |
100.00 |
200.00 |
| $40,000 |
66.67 |
133.33 |
266.67 |
| $50,000 |
83.33 |
166.67 |
333.33 |
| $60,000 |
100.00 |
200.00 |
400.00 |
| $70,000 |
116.66 |
233.33 |
466.67 |
| $80,000 |
133.33 |
266.67 |
533.33 |
| $90,000 |
150.00 |
300.00 |
600.00 |
| $100,000 |
166.67 |
333.33 |
666.67 |
The above figures are based on gross pay and rounded to two decimal places.
If your financial circumstances change you also have the option of applying for a contributions holiday from the Inland Revenue Department.
If you have all the information you need to make an informed decision on KiwiSaver and you are ready to join, find out more about Craigs Investment Partners kiwiSTART® schemes.
The Government has announced a proposal in the 2011 Budget that the minimum employee contribution rate will rise from 2% to 3% with effect from 1 April 2013. This will also be the new default rate. Find out more
|
To view the PDF files on this site, you will need a copy of Adobe Acrobat Reader®.
This can be downloaded for free from the Adobe website.
|