The Government contributes towards your KiwiSaver account too, but only if you do.

Whether your immediate future is buying a house, or you’re looking to the long term and thinking about your retirement savings, having the Government contribute another 50% on top of what you save (up to a maximum of $521.43) is a great opportunity, and could help you reach your goal.

Now is the time of year to check your contributions and make any top ups so you get the full annual Government contribution. We’ll need to receive your extra contributions by 27 June to make sure they’re in your ASB KiwiSaver Scheme account by 30 June.

To receive the maximum $521.43 you need to have contributed at least $1,042.86 between 1 July 2016 and 30 June 2017, and:

• Aged 18 or over.
• Live mainly in New Zealand.
• Not yet eligible to make retirement withdrawals.

If you earn $34,762 or more per year and you contribute at least 3% out of your pay, you’re likely to have contributed enough to get the full $521.43. If you’re not sure how much you’ve contributed, here’s how you can see if you’re on track to contribute $1,042.86 between 1 July 2016 and 30 June 2017:

• If you’re an ASB KiwiSaver Scheme member, log in to FastNet Classic internet banking to review your voluntary contributions.
• Use IRD’s My KiwiSaver service to find out how much you’ve contributed from your salary or wages.
• Check your payslips to see how much you’ve contributed from your salary or wages.

If you’re already on track to contributing $1,042.86 between 1 July 2016 and 30 June 2017, there’s nothing else for you to do. But if you haven’t, there’s still time for you to contribute more.

• Make a lump sum payment by 27 June using FastNet Classic internet banking or the ASB Mobile app or by going into an ASB branch.
• Transfer your True Rewards Dollars to your ASB KiwiSaver Scheme account before 9pm on 25 June.

The great thing is that putting away even an extra $20, could get you $10 from the Government.

If you don’t think your salary or wage contributions will be enough to get you the maximum annual Government contribution in the coming year, you could start making regular extra payments from 1 July 2017 to make this time next year easier for you.

If you’re an ASB KiwiSaver Scheme member you could:

• Set up an automatic payment in FastNet Classic to contribute a set amount each week.
• Fill out this direct debit form and drop it into your nearest ASB branch (you’ll need to bring your ID and proof of address).
• Increase your employee contribution from 3% to 4% or 8% by speaking to your employer.

Read more about making extra contributions to the ASB KiwiSaver Scheme.

We need to have received your direct ASB KiwiSaver Scheme contributions by 27 June 2017 so we can ensure they are in your ASB KiwiSaver Scheme account by the end of June. You’ll need to transfer any True Rewards Dollars by 9pm on 25 June to ensure they are processed by the end of June.