What is KiwiSaver?
How you contribute to your KiwiSaver account depends on whether
you are working or not.
you are working or not.
Employees
Employees can choose a contribution rate equal to either 2%*, 4% or 8% of the total gross salary or wages paid by the employer (including bonuses, commission and overtime). If no choice is made, the default rate is 2%*. Employees can also make a lump sum payment whenever they like.
* The current Government has introduced draft legislation that on 1 April 2013 the minimum employee and employer contribution rates will increase from 2% to 3% of wages.
Employers have to match their employees’ contributions to KiwiSaver as per the table below:
|
Monthly employee |
Employer |
Total employee and |
|
2 |
2 |
4 |
How much is this?
| Pre tax income |
Weekly 2% contribution |
Weekly 4% contribution |
Weekly 8% contribution |
| $20,000 |
$7.69 |
$15.38 |
$30.77 |
| $40,000 |
$15.38 |
$30.77 |
$61.54 |
| $60,000 |
$23.07 |
$46.15 |
$92.31 |
| $80,000 |
$30.77 |
$61.54 |
$123.08 |
| $100,000 |
$38.46 |
$76.92 |
$153.85 |
Self employed / not working
If you are self employed or not working it is easiest to contribute direct to Fisher Funds. You can either send us a cheque or use our direct debit facility.
Post your cheque to:
Fisher Funds
c/o Trustees Executors
P O Box 409
Wellington 6140
Fisher Funds
c/o Trustees Executors
P O Box 409
Wellington 6140
 |
Download our direct debit form |
You are not required to contribute a fixed % of your income but if you can afford to pay $20 per week will ensure you maximise the tax credits.
|
Learn more about the member tax credits here |
