Saving for retirement when you're self-employed

KiwiSaver provides a flexible retirement savings option for people who are self-employed.

Did you know self-employed KiwiSaver members may also be eligible for the KiwiSaver benefits? These include the annual Government contribution, (also known as member tax credit) and the KiwiSaver first home withdrawal which can help you get into your first home sooner.


Why invest in the ASB KiwiSaver Scheme?

Low cost

KiwiSaver is a relatively low cost way to invest; the fees are usually lower than other professionally-managed investment funds, so more of your money stays invested.

Range of funds to choose from

The ASB KiwiSaver Scheme gives you access to professionally managed funds with options ranging from the NZ Cash Fund (with low risk returns) to the Growth Fund (potential for higher total returns).

Use our tools

You can use our Help me choose tool to find a fund that may suit the type of investor you are. You can also use our KiwiSaver calculator to work out how long your savings could last you in retirement.


Make the most of the annual Government contribution

As a KiwiSaver member, you may be eligible for the annual Government contribution, also known as the member tax credit.

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.

Your contributions don’t need to be regular, which might suit you, as self-employed incomes can vary throughout the year. You can maximise your eligibility by contributing around $21 each week.


Two ways to contribute

Do you draw from your business account to pay yourself?

  • You can make voluntary contributions whenever you like.
  • You can contribute any amount – there’s no maximum or minimum.
  • Set a retirement savings target for yourself, like $50 a week.
  • Set up an automatic payment to ensure it always goes through.

Do you pay yourself a PAYE salary?

  • You pay KiwiSaver contributions of 3%, 4% or 8% like a regular employee.
  • You'll also need to make employer contributions to your KiwiSaver account.

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.


Use KiwiSaver to help get into your first home

If you meet the eligibility criteria, you’ll be able to use your KiwiSaver savings to put towards the purchase of your first home. You'll need to leave a minimum balance of $1,000 in your KiwiSaver account and you cannot withdraw any amount transferred from an Australian complying superannuation fund.

Even if you've owned property before, you may still be eligible to withdraw your savings if Housing New Zealand Corporation decides you’re in the same financial position as a first home buyer.

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 for retirement when you’re self-employed