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Saving more with KiwiSaver

Are you saving enough to maintain a comfortable lifestyle in retirement or to buy your first home? Now is the time to consider putting a little more into your ASB KiwiSaver Scheme account and grow your savings faster.

01

Good reasons to save more now

Putting aside a little bit more every week can have a bigger effect over time. The more you save, and the earlier you start, the better off you could be in the future. Use our KiwiSaver calculator to see the difference this could make.

Annual Government contribution

The Government will contribute 50 cents for each dollar you contribute to your KiwiSaver account, up to a maximum of $521.43 per year. To receive the full annual Government contribution, you’ll need to contribute at least $1,042.86 between 1 July and 30 June each year and meet the eligibility criteria. You’ll be able to receive the annual Government contribution from the age of 18 up until you’re eligible to make a KiwiSaver retirement withdrawal as long as you live mainly in New Zealand.

Make a contribution

02

Increasing your employee contributions

One of the simplest ways to save more is to put more of your pay into your KiwiSaver account.

The minimum contribution rate is 3% of your before-tax salary, but you can also choose to contribute 4% or 8%. Use our KiwiSaver calculator to see how a small increase in contributions can make a big difference to how much you may have in retirement.

  • Fill out this IRD KiwiSaver deduction form and give it to your employer; or
  • Email your employer to let them know your preferred contribution rate.

03

Making voluntary contributions

There's a number of ways you can make regular or one-off contributions to your KiwiSaver account. You can use FastNet Classic internet banking, the ASB Mobile app, the online services of other banks (search 'ASB KiwiSaver' in bill payments) or download and complete our Direct Debit form.

You can also convert your True Rewards Dollars. 1 TR$ = 1 NZ$ in your ASB KiwiSaver Scheme account. See below for more details.

Or you can visit any ASB branch, remembering to bring your ID and proof of address. Check our full list of identification requirements.  

True Rewards transfers

You can use your True Rewards Dollars to top up your KiwiSaver savings. With ASB, you can transfer any True Reward Dollars you earn into your ASB KiwiSaver Scheme account. You can also use True Rewards Dollars to top up someone else's ASB KiwiSaver Scheme account.

Log in to FastNet Classic internet banking and select 'Spend rewards' next to your True Rewards Dollars balance. In the True Rewards online store, select ASB KiwiSaver Scheme from the left hand menu. You'll need your IRD number and ASB KiwiSaver Scheme member number as references.

04

Set up regular contributions

Making regular contributions to your KiwiSaver account is another way to grow your savings over time.

Automatic payments are perfect if you want to choose how much you save. Particularly if you wish to save more than 4% of your pay, but contributing 8% is too much.

Set up an automatic payment

05

Help your family save

You can also make contributions to other people’s ASB KiwiSaver Scheme accounts, with one-off or automatic payments.

It can be a good way to ensure your family members aged over 18 receive the full annual Government contribution. You could also help boost the savings of your children or grandchildren by contributing towards their KiwiSaver account.

Apply for the ASB KiwiSaver Scheme

Apply online

Ready for the next step? Apply online and start saving.

Apply online

Call us

Speak to a KiwiSaver specialist. 

0800 ASB RETIRE (0800 272 738)

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Any questions?

We’ll help with your ASB KiwiSaver Scheme query.

Ask us now

Other helpful guides

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.business.govt.nz/disclose (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Saving more with KiwiSaver