KiwiSaver is a great way to save for your first home or for retirement and offers a range of generous membership benefits to encourage you to save. These include:

• Government contribution of $521.43 – for every $1 you contribute up, the Government will contribute 50 cents up to a maximum of $521.43 per year (equivalent to $10 per week) for each KiwiSaver year if you are aged between 18 and 65.
• Compulsory employer contributions of 3% – if you are employed, aged between 18 and 65, and contributing to KiwiSaver through your wages, your employer has to match these contributions by 3%.
• Help to buy your first home – if you’ve been contributing to KiwiSaver for 3 years or more, you may be able to withdraw nearly all of your savings to put towards a first home deposit. Plus, you may be eligible for a First Home Loan, from as little as 5% deposit. First Home Loans are supported by Kainga Ora - Homes & Communities.

^{^}To receive the full Government contribution you will need to be over the age of 18 and contribute at least $1042.86 towards KiwiSaver between 1 July to 30 June each year.

For more information, watch the KiwiSaver 101 video below.

You can choose to contribute 3%, 4%, 6%, 8% or 10% (your choice) of your gross pay (that’s your pay before tax). These contributions will be paid into your KiwiSaver account automatically by your employer.

If you’re self-employed, unemployed or under 18 (and not working) you can choose to put in as much or as little as you like. That’s when you like, and with no minimum payment required.

To receive the full Government contribution you need to be over the age of 18 and contribute at least $1042.86 towards KiwiSaver between 1 July to 30 June each year.

Anyone can make contributions into another person’s KiwiSaver account. It’s a great way to help family and friends to make the most of KiwiSaver.

First home buyers

To be eligible to withdraw from your KiwiSaver account to purchase your first home, you must:

• Have invested in KiwiSaver for at least three years
• Leave $1,000 in your KiwiSaver account as a minimum
• Be a first-home buyer or landowner
• Purchasing within New Zealand
• Live at the property (as opposed to renting it out)
• Not have withdrawn from your KiwiSaver before

Retirement

You can access your KiwiSaver funds once you reach the age of eligibility for New Zealand Superannuation. That age is currently 65.

Limited exceptions

Early withdrawals may be permitted for significant financial hardship, serious illness or permanent emigration other than to Australia (terms and conditions apply). In the event of your death before retirement, your KiwiSaver balance will be paid to your estate.

You can join KiwiSaver if you are:

• A New Zealand citizen, or have permanent residency; and
• You live, or normally live, in New Zealand

Different joining criteria applies for under 18 year olds joining KiwiSaver.

• Free KiwiSaver advice – receive free personalised financial advice about KiwiSaver and real-time customer service to help you reach your retirement goals.
• Ethical investing – choose from a range of certified socially responsible investment funds, so you can align your investments with your personal values.
• Free Accidental Death cover – receive free Accidental Death cover up to $100,000.*
• Help with planning and budgeting – access an extensive range of online planning and budgeting tools, to help you keep on track.
• Choice of funds – choose from a comprehensive range of KiwiSaver funds.
• Investing back into New Zealand – invest back into New Zealand through Booster’s specialist funds; Tahi, the Private Land & Property Fund and the Booster Innovation Fund.
• Government-appointed default KiwiSaver provider – Booster was appointed in 2014 and is now one of only six government-appointed default KiwiSaver providers.
• NZ-owned and operated – Booster has been helping Kiwis to build a better future for more than 20 years.

*Terms and conditions apply. To find out more visit www.booster.co.nz.

For more information on KiwiSaver, or to join or switch to Booster, simply choose from any of the options below. We’re here to help.