If you are under age 65, are entitled to stay in New Zealand indefinitely (i.e. you are a New Zealand citizen or hold permanent resident) and normally reside in NZ, you can join KiwiSaver. There is no minimum eligibility age.
Therefore eligible employees, the self employed, stay-at-home spouses, beneficiaries and children can join.
Joining
The best way to join is to opt in. However, if you are an employee and you start a new job you may be auto-enrolled.
Employees under 65: Opt-in
Any eligible employee under 65 can join KiwiSaver, by opting in. If you choose to opt-in, you must contribute at least 3% of your total before-tax taxable pay for one year and you do not have the option to opt-out. If you wish to stop contributing to KiwiSaver, after one year, you can choose to go on a contributions holiday.
People who are not employees: Opt-in
If you are not an employee (e.g. you are a stay home spouse, a beneficiary, self-employed, or a child and are eligible to join), you join KiwiSaver by applying direct to a KiwiSaver provider. Non-employees are not required to save. However, if you wish to make regular savings you will also need to complete a direct debit form.
New employees: Auto-enrolment
If you are between 18 and 64 and are not in KiwiSaver, when you start a new job you will be auto-enrolled into KiwiSaver if you are eligible to join. You must save a minimum of 3% of your total before-tax taxable pay. Your 3% savings apply from your first pay day.
If you do not want to be a member, you may “opt-out”. You can “opt-out” after two weeks (day 14 of your job) and before the end of eight weeks (day 56). In exceptional circumstances you can opt-out after 8 weeks. If you do not opt-out, you are required to save at least the 3% minimum for one year. To opt-out you complete the IRD form KS10 and give it to your employer or the IRD.
In most cases, when you are auto-enrolled you will be assigned to a default KiwiSaver provider unless your employer has a chosen provider. However, you have the option of choosing a provider, or changing your provider if you have already been assigned one.
Transferring to Another KiwiSaver Provider
If you are already a member of KiwiSaver and wish to transfer your membership to another provider, you need to complete a membership form or enrol online. IRD will then advise your provider of your previous provider and we will contact them to arrange the transfer.They have a time frame of 35 days to complete the transfer from when you enroll to a new provider.
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