What is Kiwisaver in New Zealand?
Kiwisaver is a nearly compulsory savings scheme through employers, to assist people in NZ to save for retirement over and above Superannuation.
Who can contribute? – Only residents, permanent residents or citizens can be part of Kiwisaver.
BONUS TIME: The taxman (IRD) contributes up to a maximum of $1 020 for every year you contribute – FREE!! See below the $1 954!
The employer contributes 3% and the employee can contribute 3%, 4 %, 5%, 8%, or 10% to assist in growing your retirement fund.
You invest in managed funds that suit your risk profile. There are many Investment funds to choose from. See an example of the growth in a Kiwisaver fund below.
Click the link below to learn more: