KiwiSaver

Increase your retirement savings.      Get your government and employer contributions.      Already joined a government selected default scheme and wish to control your own funds?  Self or not employed and want to pay the minimum and optimise your KiwiSaver?  Want to give a great start for your children or grandchildren? DIY on this site.

Over 1.3 million Kiwis have now joined KiwiSaver.  Here's how.

You can join KiwiSaver here online as an employee or an individual (self employed or not working or children).

 Employee  or Individual               Profiler           Apply Now 

BENEFITS:

If you are under 65, the government gives you:

• $1,000 kickstart 
• if you are over 18 your contributions will be matched by a tax credit of up to $20 per week .
• Employees can choose to contribute 2%, 4% or 8%. The default rate is 2%.
• from 1 April 2009, all employees contributions also get a matching employer contribution of 2%,
• After three years of saving, some savers that are first home buyers will be eligible for a housing deposit subsidy of $1,000 per year of saving, up to $5,000 in total.

Note: The KiwiSaver mortgage diversion facility was closed to new applicants from 1 June 2009.

See Employers and Employees pages for further details on the changes from 1 April 2009.

Also from 1 April 2009, existing employee members may choose to reduce contributions to 2%. To do this complete this form (KS2) and pass it to your employer.

In late 2009, new PIE and PIR rules were announced - see KiwiSaver and Tax.

The government also plans to remove the ostacles in transferring savings to and from Australia. See 2010 Update

After reviewing the many options, we have chosen to support the Fidelity KiwiSaver scheme as a credible, comprehensive, secure, and experienced provider, which can be expected to consistently perform over the long term. The selected scheme is well designed, portable and flexible and should meet the majority of Kiwis needs, whether you are an employer, employee, self-employed or an individual, now and into the future. Fidelity is also a New Zealand owned company and will not be subject to the decisions and vagaries of overseas owners.   

7 funds provide a wide choice. You may spread your investment over up to 4 funds. For more details see - Investment Funds  Existing members can use this form to switch funds. If you are already in a KiwiSaver scheme and wish to change to the Fidelity Kiwisaver scheme, just complete an application and we will do the rest. We will advise IRD and your existing funds and new contributions including government and employers, will be automatically forwarded to your new scheme. Just follow the process described above.

In addition the Fidelity KiwiSaver scheme offers additional benefits, which include:

• Free $10,000 "death by accident" top-up cover ($2,000 if aged under 10) for contributing members. Details here.
• Accessibility - online secure web access to your KiwiSaver member account. 

Costello Financial Services has provided investment advice to Kiwis since 1970. We are members of the Institute of Financial Advisers. We are also leaders in providing financial services online - see www.nzlife.co.nz   and  www.nzmedical.co.nz  and www.goldenlife.co.nz