What you need to know about KiwiSaver
With KiwiSaver you could get...
KiwiSaver provides a range of incentives to
members. You'll receive a $1,000 government kick-start to your
first KiwiSaver Scheme. You'll receive this three months
after IRD receives notification of your membership.
You could also be eligible for member tax credits of up to $1040
per year from the government and contributions from your employer
of 2% of your gross salary or wages. You may also be able to access
some of your savings to help buy your first home, provided you've
been making contributions for at least three years.
However, you'll only be able to withdraw the contributions you (or
your employer) have made - not the $1,000 kick-start or member tax
credits.
KiwiSaver for children
When your child starts working, they will have to make
contributions to their KiwiSaver Scheme from their wages or
salary. The minimum contribution is currently 2%.
It's possible to apply for a 'contributions holiday' (where they
won't have to make contributions), after they have been a member of
a KiwiSaver Scheme for 12 months.
Watch the video
Click here
to watch Rae, Nicci and
Marina talk about how they're achieving their goals.
Talking Money Sense: How can I achieve my
goals?
Nicci's guide to setting goals
Find out how Nicci is saving for bills, travel and her
first home deposit
Marina: How setting goals early can lead to big
rewards
Marina shares her tips on how to get kids excited about
saving
How much will $120 be worth in 20-30 years'
time?
Get a grip on how compound interest works.
Why aren't my pennies piling up?
Are your finances in a mess? Check out the TMS tips
on how to gain control of your money
How Westpac can help you and your kids save
Find out how Westpac can help both kids and adults save,
including KiwiSaver options, savings games and online
calculators.
The content of Talking Money Sense is general in nature, is
designed for information purposes only and is not intended to
constitute financial or other advice. Information is subject to
change. Terms, conditions, fees and charges apply to Westpac
products and services. See
www.westpac.co.nz or call into your nearest
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