KiwiSaver is a voluntary wage savings plan. Employees themselves pay a certain percentage of their wages every month, and then the employer also pays a certain amount according to the amount paid by employees. They can choose to deposit 2%, 4% or 8% of their pre-tax salary into some retirement funds approved by the government. Users of KiwiSaver can choose their own fund companies to increase or preserve the value of their pension accounts, which is also an investment.

What are the incentives for KiwiSaver?

In order to encourage residents to participate in the KiwiSaver program, the government has also introduced a series of incentives. For example:

Anyone who participates in KiwiSaver can get a reward of 1000 NZD;

If you have participated in KiwiSaver for more than one year, you can also get an annual reward of 1000 New Zealand dollars;

When KiwiSaver participants buy a house for the first time, the government subsidizes NZD 1000-5000 every year;

If the scheme participants are aged 18 or above, they can get a maximum annual tax refund subsidy of NZD 1040 and an annual subsidy of NZD 40 to cover some fees charged by the savings scheme providers.

Although I know that I have to pay the price for this, after reading so many subsidies, is there a feeling that my heart is not as good as action ~

How to join KiwiSaver?

If you want to join KiwiSaver, you need to fill out an application form for a savings plan provider, which generally refers to the relevant financial institutions registered by the government to provide KiwiSaver portfolio.

If the applicant is a company employee, 2%, 4% or 8% of his pre-tax salary will be deposited in KiwiSaver's portfolio. If the applicant is not an employee of the company, you can negotiate the specific amount of savings with the savings plan provider.

As of June 20 12,1950,000 New Zealand employees have joined the KiwiSaver savings plan.