For every dollar you invest in your KiwiSaver account between 1 July 2022 and 30 June 2023, the Government will give you another 50 cents, up to a maximum of $521.43!

To get the maximum amount you need to invest $1,042.86 to your KiwiSaver account.

‍Get the full amount.

Here's how you can get that extra $521 in your KiwiSaver!

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1. Check that you're eligible:

To receive the government contribution, you must be over 18 years old, live mainly in New Zealand, and not be eligible for a KiwiSaver retirement withdrawal or be a member of a complying superannuation fund.

2. Make sure you're in a KiwiSaver scheme:

If you're not already a KiwiSaver member, you can join any KiwiSaver scheme through a KiwiSaver provider (talk to us, it's free, and we can get you set up, also for free! Book your free KiwiSaver consultation here.)

3. Make a personal contribution of $1,042.86:

You can make a one-off payment or regular payments into your KiwiSaver account to reach this amount. You can also choose to contribute more if you want to boost your savings.

4. Wait for the government contribution:

Once you've made your personal contribution, the government will automatically pay the $521 contribution to your KiwiSaver account in July or August.

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Pro-rata amounts

Note that if you don't contribute the full $1,042.86, you'll receive a government contribution proportional to the amount you contribute. For example, if you contribute $500, you'll receive a $250 government contribution. If you joined KiwiSaver after 1 July 2022, or turned 18 or 65 part-way through the year, you'll get a pro-rata amount for the days you were eligible.

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Over 65?

Individuals who are 65 years or older can still qualify for the government contribution provided they became a member of KiwiSaver before reaching 65 years of age and have a membership period of fewer than five years. Additionally, they should have enrolled in a KiwiSaver Scheme before 1 July 2019 and not made any withdrawals meant for retirement purposes.

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What does the payment go through?

The government will distribute the payments from 1st July to 31st August 2023.

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Non-working family and friends can get it too.

Are you aware that the government contribution is not exclusively for employed individuals? Even non-working individuals can be eligible for it if they satisfy the eligibility requirements and invest up to $1,042.86 into their KiwiSaver account before Wednesday, 28th June 2023.

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Need help?

Book yourself in a free KiwiSaver consultation with one of our financial advisers.

The consultation and our advice is free, and we can get you going for free with a provider too.

Book your KiwiSaver consultation online here.

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