Each year, the government will contribute up to $521.43 towards your retirement savings, when you are a member of a KiwiSaver scheme, such as the Kernel KiwiSaver Plan.
You will need to make a minimum deposit of at least $1042.86 of your own money (excludes employer contributions) between 1 July to 30 June each year, to receive the government contribution.
Am I eligible for the government contribution?
Any eligible person contributing to their KiwiSaver account is eligible for the government contribution.
You are eligible if your primary residence is New Zealand, and you are between 18 - 65 years old.
Contributions as an employee
You can contribute through your salary and wage deductions, payments to Inland Revenue or payments to your scheme provider. Your employer will process this contribution for you directly with your KiwiSaver provider, so long as you are enrolled in a KiwiSaver scheme.
Contributions as a self-employed worker
You can make a voluntary additional contribution to reach $1,042.86 as long as it is made by 30 June - remember to allow for processing time.
Read more about getting the KiwiSaver government contribution on the IRD's website.