For every $20 you save into your KiwiSaver account, the government could contribute $10, up to a maximum of $521.43 each KiwiSaver year (from 1 July to 30 June). So make sure you get your share!
Who is eligible to receive the government contribution?
To be eligible for the government contribution, you must:
be a KiwiSaver member
be 18 years of age or older
not yet be entitled to withdraw your KiwiSaver for retirement
live mainly in New Zealand
If you turned 18, reached retirement age or joined KiwiSaver part-way through the KiwiSaver year, you’ll be eligible for a portion of the contribution. What you get depends on how long you were eligible.
The government contribution is not just for employees. If you’re self-employed or not in paid employment you’re still eligible – you just need to put money into your KiwiSaver account yourself. There’s information about how to make contributions here.
How to find out if you’ve contributed enough
You can log in to your online account and check our handy government contribution tracker.
If you are an employee you can find out how much you’ve contributed since the start of the KiwiSaver year (1st July each year) by logging in to your myIR account.
Once you're logged in you’ll see a link to view your ‘Contributions Summary' in the KiwiSaver section. Make sure you have selected 'Government contribution year' in the drop-down menu, and you’ll be able to see your total employee contributions for the year as ‘Deductions from salary/wages’.
Remember, any additional voluntary contributions made directly to your KiwiSaver scheme may also count towards any government contribution you’re eligible for, however any employer contributions will not.
You can also contact us to find out how much you have contributed, and whether you need to top up your account to receive the full government contribution.
How do you claim your government contribution?
Fisher Funds claims the government contribution on your behalf following the end of each KiwiSaver year (30 June). Inland Revenue is required to process the claim within 30 days of receipt. There is nothing more you need to do once you have made the necessary contributions. If you are eligible to receive it, you can expect your government contribution to be paid directly into your KiwiSaver account by the end July or early August.
If you’ve got any further queries about the government contribution, please get in touch, and we’ll be happy to help you out.