KiwiSaver contributions if you work after 65
If you keep working after you turn 65, you can keep paying into your KiwiSaver scheme, but contributions from the government and your employer to your account may stop.
Automatic employee contributions
You can keep paying into your KiwiSaver account for as long as you want to. If you're working, deductions from your pay continue as before. You can also choose to stop contributions or change the rate you're paying.
Once you turn 65, you only get employer contributions if:
- your employer chooses to keep contributing — they don't have to make contributions anymore
- you have a contract that says the employer contributions must continue, or
- you started your KiwiSaver contributions after you turned 60 — your employer must pay for 5 years after you started your KiwiSaver account.
Your Member Tax Credit of up to $521.43 from the government stops when you turn 65 if you've been a member of KiwiSaver for 5 years.
If you started your KiwiSaver contributions after you turned 60, your provider can claim the Member Tax Credit for 5 years.
You can take a break from saving — a contributions holiday — after you've been saving for 12 months.
If you're still working after you turn 65, you can only stop your contributions if you've been a member of KiwiSaver for at least 5 years. To stop contributing, complete a Non-deduction notice (KS51) and give it to your employer.
If you want to start contributing again while your account is still open, complete a KiwiSaver deduction form (KS2) and give it to your employer.
If you close your KiwiSaver account, you can't open a new one.
If you're self-employed
Talk to your provider about changing or stopping your contributions.
While you're still making contributions, you can change to a new KiwiSaver provider at any time. Some providers charge you a fee to change.
You can still make voluntary contributions if you want to add some extra money to your KiwiSaver savings.
Withdrawing your KiwiSaver savings
You can withdraw your money when you turn 65, but you must have been a member for at least 5 years.