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Finance and Insurance :: Personal Finances
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Who can join KiwiSaver
Most New Zealanders under 65 can join KiwiSaver, but you won't get employer or government contributions if you're under 18.
Joining KiwiSaver when you start work
When you start a new job, you'll automatically be enrolled in KiwiSaver if you're eligible and not a member already. You can also join through your current employer or directly with a provider.
Making KiwiSaver contributions
If you're employed, your contributions to KiwiSaver are made automatically from your pay. You can also make voluntary contributions.
Making changes to KiwiSaver
You can change how much you contribute or which scheme you belong to. Once you've belonged to KiwiSaver for 12 months, you can choose to take a contributions holiday.
KiwiSaver withdrawals before you turn 65
You can withdraw some or all of your money from KiwiSaver before you turn 65 if you're buying your first home, moving overseas permanently, develop an illness or suffer serious financial hardship.
KiwiSaver withdrawals after you turn 65
You can withdraw all your savings when you turn 65, as long as you've been a KiwiSaver member for at least 5 years.
KiwiSaver contributions if you work after 65
If you keep working after you turn 65, you can keep paying into your KiwiSaver scheme, but contributions from the government and your employer to your account may stop.
Income after you turn 65
Most people get NZ Superannuation when they turn 65, but there are other sources of income you might use to support yourself. These can affect the tax you pay or benefits you can apply for.
Getting help with your budget
In retirement, most people live on a fixed income and need to manage their money carefully. There are government-funded community services that can help you manage your finances.
If you can't get NZ Superannuation or other benefits
If you can't get any other financial support from the government, you can apply for help with day-to-day living costs and health. You can also apply for a SuperGold Card.
Help paying rent and housing costs
If you have low income or financial problems you might be able to get help with rent and other housing costs. You may be able to get an accommodation supplement or access to cheaper housing.
Government help with housing if you're over 65
You can get help with rates, rent, board, your mortgage payments, ​repairs and maintenance. If your income is low, you can apply for cheaper housing to central government or sometimes your council.
Emergency housing
Emergency housing is usually provided by local councils and charities. Financial help is also available.
Getting a rates rebate
If you have a low income and pay the rates on your home, you could get up to $630 taken off your rates bill. You can apply for your rates rebate through your local council.
Postpone or defer paying your rates
If you own your own home, many councils let you postpone or defer paying your rates. Check with your council to find out if they offer this service and whether you qualify for the scheme in your area.
Releasing equity in your home
If you own a home, you may be able to borrow money if you've paid off enough of your mortgage. The loan may cost more than a normal home loan and the type of loan you get depends on your circumstances.
Reverse mortgages
If you own your own home, you may be able to borrow money if you've paid off all or most of your mortgage. The loan doesn't need to be paid back until your house is sold, usually after you die.
