How to make the most of KiwiSaver

13 May 2015 / Published in Your Money

KiwiSaver can be a great way to save for retirement and there’s a lot of information available about it to take in. Here’s the simple overview of how KiwiSaver actually works and how you can make the most of it.

How KiwiSaver works

  • If you’re employed, you can choose to make contributions of 3%, 4% or 8% of your before-tax salary or wages.
  • If you’re eligible, your employer will generally top up your KiwiSaver savings with at least an extra 3% of your before-tax salary or wages.
  • You can also make voluntary contributions, no matter what your employment status is.

How to make the most of KiwiSaver

  • Get ahead and start today. The earlier you start, the more opportunity there is to maximise your KiwiSaver savings over time.
  • Contribute at least $1,042.86 each year yourself (between 1 July and 30 June) and you may be eligible for the maximum annual Government contribution of $521.43.
  • Find out what type of investor you are to help you choose the best fund for your objectives. This is really important as everybody’s personal situation is different when it comes to investment decisions. You can learn more in the video below.
How to make the most of KiwiSaver
00:01:57 Play video icon

Remember if you meet certain criteria, KiwiSaver can help you buy your first home.

Now is a good time to check if you’re on track to receive the maximum annual Government contribution this year.   If you’re eligible, for every dollar you contribute, the Government will contribute an extra fifty cents, up to a maximum of $521.43. Your contributions are calculated between 1 July and 30 June annually. You can find out more about the Government’s contribution to your KiwiSaver account.

We’ve also got lots of great ways you can manage your ASB KiwiSaver Scheme account online:


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