KiwiSaver

Comprehensive details about how KiwiSaver works can be found at www.kiwisaver.govt.nz, however, here is Stewart Group's summary:
 

• $1,000 free kick-start;
• Up to $521.43 pa member tax credit (if over 18);
• If you are an employee, contributions are automatically deducted from your pay;
• Compulsory minimum contribution from your employer of 2%, increasing to 3% from 1 April 2013;
• Those under 18, self-employed or not employed can contribute the amount they choose;
• Access to a first-home deposit subsidy (qualifying conditions apply);
• Ability to withdraw some of your balance for a first home purchase (click here to see one of Stewart Group's team talking about her personal experience of the KiwiSaver First Home Withdrawal process);
• An easy way to start saving for your retirement and get saving;
• Accessible to funds if you really need to (ie financial hardship or serious illness); and
• Ability with some KiwiSaver providers to transfer your overseas pension/superannuation fund into your KiwiSaver fund (click here to see one of Stewart Group's team talking about his personal experience of transferring his overseas pension into KiwiSaver).