Self-employed people are also able to join KiwiSaver. However, if you are self-employed you will need to familiarise yourself with how KiwiSaver works in order to determine whether the scheme will suit your retirement savings strategy. You may also want to work out how much you will save for your retirement if you decide to join KiwiSaver.

As a KiwiSaver member you’re entitled to a $1,000 kick-start payment from the Government as well as an annual tax credit to your KiwiSaver account of up to $20 per week (approximately $1,040 per annum). The Government will also make a yearly contribution of $40 towards scheme fees. Your savings will be locked in until you reach the age of eligibility for New Zealand Superannuation (currently 65), or five years from when you start making contributions, whichever is later. However, if you suffer significant financial hardship or serious illness or emigrate permanently you may be able to access your money sooner. Similarly if you die your money will be made available to your estate.

As a self-employed person, you can determine the frequency and value of your contributions to your KiwiSaver account in accordance with the requirements of your scheme’s provider.

Please contact one of our specialist KiwiSaver advisers to find out more about Kiwisaver and how to join a scheme that suits you.