Turning 18 or joining KiwiSaver during the year
Each year, the New Zealand Government will match $0.50 for every $1 you’ve contributed to your KiwiSaver account (up to a maximum), based on your employee and voluntary contributions from July of the year prior.
The government contribution is calculated in July each year. Members who join KiwiSaver for the first time, or turn 18 during the government contribution year will have a pro rata maximum amount applied. The below table outlines how this works based on when you join KiwiSaver for the first time or turn 18 during a government contribution year - from 1 July to 30 June.
The month joined as a new KiwiSaver member or when you turned 18 | Days in the month | Eligible days left in the KiwiSaver year (30 June) | Maximum government contribution (based on the full month) | Contributions required to qualify for maximum government contribution (based on full month) |
January | 31 | 181 | $258.57 | $517.14 |
February | 28 | 150 | $214.29 | $428.58 |
March | 31 | 122 | $174.29 | $348.58 |
April | 30 | 91 | $130.00 | $260.00 |
May | 31 | 61 | $87.14 | $174.28 |
June | 30 | 30 | $42.86 | $85.72 |
July | 31 | 365 | $521.43 | $1,042.86 |
August | 31 | 334 | $477.15 | $954.30 |
September | 30 | 303 | $432.86 | $865.72 |
October | 31 | 273 | $390.00 | $780.00 |
November | 30 | 242 | $345.72 | $691.44 |
December | 31 | 212 | $302.86 | $605.72 |
Reaching the New Zealand Superannuation age
The New Zealand Superannuation age is currently 65. If you reach the age of 65 partway through the KiwiSaver year, you’ll be eligible to receive a portion of the government contribution prior to turning 65.
The table below is a guide for the number of eligible days and the maximum government contribution you could receive if you reach the age of 65 part way through the KiwiSaver year:
The month you reached the New Zealand Superannuation age (age 65) | Days in the month | Eligible days before turning age 65 | Maximum government contribution (based on the full month) |
January | 31 | 215 | $307.14 |
February | 28 | 243 | $347.14 |
March | 31 | 274 | $394.43 |
April | 30 | 304 | $434.29 |
May | 31 | 335 | $478.57 |
June | 30 | 365 | $521.43 |
July | 31 | 31 | $44.29 |
August | 31 | 62 | $88.57 |
September | 30 | 92 | $131.43 |
October | 31 | 123 | $175.71 |
November | 30 | 153 | $218.57 |
December | 31 | 184 | $262.86 |
If you joined KiwiSaver before 1 July 2019 aged between 60– 64, you’ll be required to complete five years of membership before you can withdraw your KiwiSaver balance for retirement. During these five years, you’re eligible to receive the maximum government contribution—meaning you could be over age 65 and still receive the government contribution.
You can opt out of this five-year membership once you reach 65. If you opt out, you’ll no longer be eligible for further government contributions.