Already saving

If you're already saving for retirement you may wish to compare your existing savings scheme with KiwiSaver before deciding whether to join.

If your existing savings plan is a complying fund (see below) you'll find that its benefits and rules are already very similar to those of KiwiSaver.

If your employer makes contributions to your other scheme, this can affect the amount of compulsory employer contribution they are required to pay, so you may not be entitled to another employer contribution to your KiwiSaver scheme.

Ask your employer or existing superannuation provider for more information, and consider discussing your options with a financial advisor.

Complying fund

A "complying fund" is a superannuation scheme that has membership criteria similar to KiwiSaver, such as your savings being locked in until the age of eligibility for NZ Super. You should ask your provider if you're unsure whether your scheme is a complying fund.

Members of a complying fund are entitled to receive the member tax credit.

If you belong to KiwiSaver and another superannuation scheme which is a complying fund, your member tax credit entitlement will be paid to the fund that applies first. Any remaining member tax credit entitlement will be paid to the other fund when they apply.

State Sector Retirement Savings Scheme

If you're a member of the State Sector Retirement Savings Scheme, you can find out more information about what KiwiSaver means for you.