Are you a First Home Buyer? - Do you qualify for Kiwisaver?
KiwiSaver is a voluntary workplace-based retirement savings initiative.
The National Bank KiwiSaver Scheme is designed to help you save for your retirement now.
Key Features
- A one-off $1,000 Government contribution when you first join a KiwiSaver scheme.**
- Member contributions will be matched* by the Government up to $1,042.86 per annum (approximately $20 per week) in the form of a member tax credit paid annually to the members KiwiSaver account**.
- You choose the contribution rate an amount equal to 2%, 4% or 8% of your gross salary or wages if you are employed**.
- You'll receive a matching compulsory employer contribution of 2% of gross salary or wages*.
- A first-home deposit subsidy for eligible investors* - after three years of contributing membership (up to $1,000 for each year of contributing membership to a maximum of $5,000).
- Contributions holiday if you're employed, you can take a Contributions holiday twelve months after your first contribution is received. Holidays can be for three months to five years, after which contributions will resume unless a further contributions holiday is applied for.
- You dont need to do anything once youve signed up - if you're employed your savings are automatically deducted from your salary or wages each payday, or the date of your direct debit if you do not earn a salary or wage.
Note: if you dont have a regular income, you can contribute directly to the National Bank KiwiSaver Scheme via a direct debit or by making a lump sum contribution. Alternatively, you can make contributions directly to Inland Revenue. If you do earn a salary or wages then a minimum of 2% will generally be deducted from your gross earnings (unless you are on a contributions holiday).
Download the National Bank KiwiSaver Investment Scheme brochure in a PDF form.
For further information for first home buyers go to the National Bank Home Buyers Centre page.
