Making a contribution.

2min read
Posted 10 April 22

If you start a job with PAYE (pay as you earn), you'll be able to choose a percentage of your gross (pre-tax) salary to be contributed to your KiwiSaver. You can select between:

  • 3%
  • 4%
  • 6%
  • 8%
  • 10%

If you don't tell your employer the rate you want to pay KiwiSaver, they'll deduct your contributions at the default 3%. 


Government contributions.

Every year, the Government will contribute 50 cents for each dollar you put in your KiwiSaver (up to a maximum of $521.43). You've got to contribute $1,042.86 a year to get that maximum. This may sound like a lot, but it averages around $20 a week — or about $2.85 a day.


Additional bonuses.

If you're contributing part of your pay to KiwiSaver, your employer also needs to pay in. By law, they've got to contribute a minimum of 3% but might agree to add in more. 


Additional contributions.

Speak to your employer to change your KiwiSaver contribution. Alternatively, flick them a completed KiwiSaver Deduction Form, which you can find on the IRD's website. You can't change your contribution rate more than once every three months unless you and your employer agree otherwise. 

You can also add money to your KiwiSaver as a once-off or set up a regular debit deposit. Recurring deposits are also a good idea if you're self-employed and don't have an employer who'll be making regular payments for you.


Stop! Disclaimer!

Info and tools on the Yonda website are to be used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.