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Topping up your KiwiSaver account

Annual Government contribution

KiwiSaver Bonus Season - Top up to win!If you’re eligible, you could get a boost to your KiwiSaver savings thanks to an annual contribution from the Government. For every $20 you save into your KiwiSaver account, the Government will contribute $10, up to a maximum of $521.43 each KiwiSaver year (1 July to 30 June). How good is that?

How to top-up your KiwiSaver account

By direct credit
Pay directly into the Scheme’s bank account (02 0506 0083982 00).

You can also search for “Fisher Funds TWO KiwiSaver Scheme” in the Bill Payee section of your internet banking website.

Please include your name and IRD number or member number.

By cheque
Make your cheque out to the Fisher Funds TWO KiwiSaver Scheme.

Post your cheque to:
Fisher Funds
Private Bag 93502
Takapuna
Auckland 0740

Please include your member number as a reference.

Via Inland Revenue
Log into your internet banking and simply choose the 'Tax Payment' option. You will need to select the tax or payment type as 'KSS' and enter your IRD number.

What is the Government contribution?

For every $20 you save into your KiwiSaver account, the Government will contribute $10, up to a maximum of $521.43 each KiwiSaver year (1 July to 30 June). 

Who is eligible to receive a Government contribution?

To be eligible to receive a Government contribution:

bulletpoint tick you must be 18 or older;
bulletpoint tick you must not yet be entitled to withdraw for retirement; and
bulletpoint tick your principal place of residence must be New Zealand.

A few limited exceptions apply, find out more.

How much can I get?

To receive the full amount of $521.43 from the Government, you need to save (at least) $1,042.86 into your KiwiSaver account before the end of the KiwiSaver year. Please note, employer and Government contributions do not count towards your entitlement.

If you can't afford to save the full amount, the Government will still contribute $10 to your KiwiSaver account for every $20 you save.

If you are employed and contribute less than $1,042.86 from your pay, you can make voluntary contributions into your KiwiSaver account to ensure you receive the full payment from the Government.

How do I receive my Government contribution?

There is nothing you need to do. The Fisher Funds TWO KiwiSaver Scheme claims the Government contribution on your behalf following the end of each KiwiSaver year (30 June). The Government contribution is paid directly into your KiwiSaver account in July/August and will show as a separate item on your transaction statement.

We will contact you prior to the end of each KiwiSaver year if it appears you need to top up your account, to remind you to maximise the Government contribution.

Joining KiwiSaver or turning 18 part-way through a year

If you join part-way through a KiwiSaver year (1 July to 30 June), you'll receive a Government contribution for the portion of the year that you've been a member.

Similarly, if you turn 18 during the KiwiSaver year you'll receive a Government contribution for the portion of the year that you were 18.

The table below helps give you an idea of how much Government contribution you will be eligible for.

Month Joined / Turned 18 Days in Month Eligible Days Remaining in KiwiSaver Year Max Government contribution
Jan 31 181 $258.57
Feb 28 150 $214.29
Mar 31 122 $174.29
Apr 30 91 $130
May 31 61 $87.14
Jun 30 30 $42.86
Jul 31 365 $521.43
Aug 31 334 $477.15
Sep 30 303 $432.86
Oct 31 273 $390.00
Nov 30 242 $345.72
Dec 31 212 $302.86

Reaching the age of 65 part-way through a year

If you reach the age of 65 part-way through a KiwiSaver year (1 July to 30 June), you'll receive a Government contribution for the portion of the year before you turn 65.

If you joined KiwiSaver (or a complying fund) before 1 July 2019, a 5 year minimum membership requirement applies if you were aged 60 or over when you joined. During the 5 year minimum membership period you are entitled to receive the Government contribution. From 1 April 2020 you can opt out of this requirement, however if you do so you will forego your entitlement to the Government contribution. Your entitlement will be pro-rated from 1 July in the year that you opt out until the date you opt out.

The table below helps give you an idea of how much Government contribution you will be eligible for.

Month Reached Retirement Age Days in Month Eligible Days Remaining in KiwiSaver Year Max Government contribution
Jan 31 215 $307.14
Feb 28 243 $347.14
Mar 31 274 $394.43
Apr 30 304 $434.29
May 31 335 $478.57
Jun 30 365 $521.43
Jul 31 31 $44.29
Aug 31 62 $88.57
Sep 30 92 $131.43
Oct 31 123 $175.71
Nov 30 153 $218.57
Dec 31 184 $262.86

Learn more about the Government contribution and how it is calculated »

 

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