Contributions holidays

Contributions holidays allow you the flexibility to stop your contributions made through your salary or wages when you need to. Find out more about when you can do this below.

You can apply for a contributions holiday at any time after 12 months of contributing to KiwiSaver. To do this you need to apply to Inland Revenue but there are no restrictions on approval. Contributions holidays can be for a period of between three months and five years and you can re-apply for another contributions holiday when one contributions holiday finishes.

In circumstances of financial hardship, you may apply for a contributions holiday earlier as long as Inland Revenue have received at least one contribution from you. If Inland Revenue approves your application then your contributions holiday will usually be for a maximum of three months.

To apply for a contributions holiday, complete an application form available at www.kiwisaver.govt.nz and send to Inland Revenue or your employer. Remember, while you are on a contributions holiday, your employer contributions and member tax credits will stop. While you are on a contributions holiday, you can receive member tax credits by making a lump sum contribution direct to your KiwiSaver scheme (if you are eligible). Contact us for more details on 0800 ASB RETIRE (0800 272 738) or retire@asb.co.nz

Self-employed or not employed

If you are self-employed or not employed you may stop and start any regular contributions you are making to the ASB KiwiSaver Scheme at any time by contacting us.