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Options for employees

If you’re an employee, there are a few straightforward options to consider if you want to make the most of KiwiSaver.

Your contribution options

Unless you choose a different rate of contribution, your employer will deduct the minimum rate of 3% of your before-tax salary or wages. You can choose to contribute at 4%, 6%, 8% or 10% of your before-tax salary or wages instead of the minimum rate of 3%. 

If you have a total remuneration employment agreement, your employer doesn't have to contribute to KiwiSaver on top of your pay. Under these agreements, your employer's contributions will come out of your total remuneration. If you are unsure whether this applies to you, talk to your employer.

Your employer takes your KiwiSaver contributions from your pay each payday and sends them to Inland Revenue each month. Inland Revenue then send them to us to put into your KiwiSaver account. It’s worth checking your payslip, and your KiwiSaver account, to make sure your employee and employer contributions are being deducted and transferred correctly.

For the first three months after you first join KiwiSaver, Inland Revenue will hold all contributions to your KiwiSaver account in a tax-free holding account and will pay interest on those amounts. After this time, Inland Revenue will transfer all contributions to us.

If you’d like to track your contributions with Inland Revenue during this period, you can visit the Government’s KiwiSaver site and register for ‘My KiwiSaver’.

How to change your contribution rate

You can change your contribution rate once every three months, unless your employer agrees to let you change more often, by completing a KiwiSaver deduction form (KS2) and giving it to your employer.

If you change employers, make sure you tell your new employer you are a KiwiSaver member. Your KiwiSaver deductions will go back to the minimum rate unless you tell your new employer that you’re contributing at a different rate. So, if you change jobs, it’s also a good idea to complete a new KS2 form.

How to restart your contributions

If your employee and employer contributions are not being deducted you can restart KiwiSaver deductions from your salary or wages at any time. Simply complete a KiwiSaver deduction form (KS2) and give it to your employer – they’ll take care of the rest.

Making voluntary contributions

At any time, you (or anyone else) can also make voluntary contributions to your account. 

Government contributions

Make the most of the annual Government contributions

If you earn less than $35,000 a year (before tax) and contribute 3% to a KiwiSaver scheme, the contributions from your pay may not be enough to qualify for the maximum annual Government contribution of $521.43 to your KiwiSaver account per year (from 1 July to 30 June).

Learn more

Need a break from contributing?

Savings suspensions can be for between three months and 12 months, unless Inland Revenue agrees to a longer period. 

You can apply to Inland Revenue for a savings suspension: 

  • if 12 months or more have passed since your first KiwiSaver contribution was paid to a KiwiSaver manager or Inland Revenue, or
  • if 12 months or more have passed since you joined a complying superannuation fund, or
  • any time after your first contribution if you are in, or are likely to be in, financial hardship.

You can take an unlimited number of savings suspensions, but this will affect how quickly the savings in your KiwiSaver account grow.  

Visit the Government’s KiwiSaver site to find out more about KiwiSaver saving suspensions.

For further information, please see the relevant guide and product disclosure statement:

The guide and product disclosure statements are available by calling 0800 736 034. The ANZ KiwiSaver Scheme guide and product disclosure statement are also available from any ANZ branch.

Issuer and manager: ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme.

Investments are not deposits in ANZ Group: Investments in the ANZ KiwiSaver Scheme or the ANZ Default KiwiSaver Scheme are not deposits in ANZ Bank New Zealand Limited,  Australia and New Zealand Banking Group Limited, or their subsidiaries (together 'ANZ Group'), nor are they liabilities of ANZ Group. ANZ Group does not stand behind or guarantee ANZ Investments. Investments are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group will not be liable to you for the capital value or performance of your investment.

No guarantee: Investments in the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme are not guaranteed by ANZ Group, any of its directors, or any other person.

For information only: This website has been provided for information purposes only and is subject to change. The content of this website is intended to be of a general nature and does not take into account an investor’s, or potential investor’s, financial situation, investment objectives, or risk tolerance.

Not investment advice: This website is not intended to constitute, does not constitute, and should not be construed as constituting, investment advice nor is it a substitute for commercial judgment or other professional advice. Investors, or potential investors, should: (i) conduct independent due diligence on any investments; and (ii) obtain independent investment and professional advice, including tax advice, prior to acting in reliance on this website.

For specific investors only: This website is intended for investors who understand the investment risks referred to on it. Some, or all, of the investments mentioned on this website may not be suitable for certain investors. Investors, or potential investors, should consider whether: (i) an investment is appropriate for their risk profile; and (ii) they will meet the suitability requirements relating to those types of investments.

Speak to a financial adviser: This website is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult a financial adviser, please call us on 0800 269 238 and we will provide you with the contact details for a financial adviser in your area. A financial adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008.

Past performance: Past performance does not indicate future performance. The actual performance any given investor realises will depend on many things, is not guaranteed and may be negative as well as positive.

How performance is calculated: Except for in the quarterly KiwiSaver fund updates (in which investment performance is calculated after fees and at a 28% prescribed investor rate), performance is after annual fund charges, and before tax and membership fees. The funds in respect of products mentioned on this website are portfolio investment entities (PIEs). Performance for funds operating before they became PIEs on 1 October 2007 has been recalculated to be on the same (pre-tax) basis. Returns for all periods longer than 1 year are annualised.

Unit prices: The unit price is calculated in accordance with the applicable governing document (each as amended, added to or replaced) for the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme. The actual unit price that applies at the time a transaction request is received and accepted may differ from the unit price shown.