Now’s the time to ensure you’re getting the most out of your KiwiSaver account. You are eligible to receive up to $521* in Government Contributions for 2017/18 if you have contributed $1,042.86 into your KiwiSaver account before 30 June.

If you are a regular contributor there’s a good chance you have already reached, if not exceeded, your contribution requirement. Not sure? simply take a closer look at your contributions, for example:

If you’re earning at least $35,000 a year and contribute the minimum 3% for the whole year, you should receive the full $521.43*.

If you earn less than $35,000, you’re self-employed or you’ve taken a contribution holiday, you might like to think about making a voluntary lump-sum contribution so you can receive the Government Contribution.

If you don’t already look after your KiwiSaver account with help from an AdviceFirst Adviser who specialises in KiwiSaver, get in touch and one of our team would be happy to help make any of the complicated KiwiSaver stuff easier to understand.

 

*The Government makes an annual contribution of up to a maximum of $521.43 a year to your KiwiSaver account provided you are a contributing member aged 18 or over and have not yet reached your Qualifying Date.

Qualifying Date means the date you qualify for New Zealand Superannuation (currently age 65); or if you joined after age 60, after five years’ membership of a KiwiSaver scheme or a complying superannuation fund. You will need to reside mainly in New Zealand unless you are a Government employee living overseas or you are volunteering (or working for token payment) for specified charitable organisations.

The KiwiSaver Government contribution year runs from 1 July to 30 June. If you join a KiwiSaver scheme or turn 18 years old part-way through a KiwiSaver tax year (1 July to 30 June), you’ll receive the Government contribution on the number of days in the year you’ve been an eligible member. This may mean you might not receive the maximum $521.43.

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