Changes to your work situation
Changes to your work situation include stopping work, starting a new job and working multiple jobs.
If you leave a job - voluntarily or involuntarily, then your employer will stop:
- deducting contributions from your pay, and
- making compulsory employer contributions to your KiwiSaver account.
You don't have to do anything else to stop contributions from that job or employer.
If you would like to continue to contribute, you can contact your KiwiSaver provider to see if you can keep your contributions going. Or you can make voluntary contributions at any time.
If you're no longer eligible to be a member with your current KiwiSaver scheme provider, then you'll move to a new scheme.
Effect on member tax credit
Stopping work may affect the amount of member tax credit that you get paid. To receive your full member tax credit for the year you need to have contributed at least $1,042.86 yourself to your KiwiSaver account.
If you make regular contributions directly to your KiwiSaver provider and you stop working, you'll need to check with your provider to see if you can stop your contributions.
Starting a new job
|If you ...||then ...|
|still earn a salary or wage in your new job||
you'll need to fill out a KiwiSaver deduction notice (KS2) and give it to your new employer, so that:
|become an employee and start earning a salary or wage||
If you don't tell your employer what your preferred rate is, the default rate will be used . You should also contact your KiwiSaver provider to let them know.
|stop earning a salary or wage - for example, you become self-employed||you'll need to talk to your KiwiSaver provider about arranging payments.|
If you work in a state or integrated school the Board of Trustees is your employer for the purposes of KiwiSaver. If you change schools, you're treated as starting new employment and will be automatically enrolled even though you stay on the same payroll.
Working multiple jobs
If you're a KiwiSaver member and you start working a secondary job:
- contributions will also be deducted from any new jobs you start, and
- you'll receive compulsory employer contributions from all your employers.
Twelve months after your first contribution is received you can apply for a contributions holiday and apply it to any or all of your jobs.