Making changes to KiwiSaver
You can change how much you contribute or which scheme you belong to. Once you've belonged to KiwiSaver for 12 months, you can choose to take a contributions holiday.
Changing your contributions
You can contribute 3%, 4% or 8% of your before-tax pay. The default rate is 3%.
You can change your contribution rate once every 3 months — unless your employer agrees to a shorter timeframe — by giving your employer:
- a letter stating your new rate (3%, 4% or 8%), or
- a KiwiSaver deduction form (KS2).
KiwiSaver deduction form (KS2)
If you're not an employee — for example you're self-employed, receiving a benefit or not working — you can contribute whatever you like voluntarily. Your provider may have a minimum annual amount or specific payment periods that you need to follow.
Taking a break from making contributions
Once you've been a member for 12 months, you can choose to take a break — often called a contributions holiday. Your holiday can last from 3 months to 5 years. There's no limit to the number of times you can take a contributions holiday and you can restart your savings at any time.
You can still make voluntary contributions and receive the Member Tax Credit while you're on a contributions holiday.
Changing schemes
You can change your scheme, but you can only belong to one scheme at a time.
To change scheme, apply to the provider you want to join. They'll arrange for your savings to be transferred from your old scheme to the new one. There might be a transfer fee.
You'll have to change to a new scheme if:
- you change jobs and your old employer had their own KiwiSaver scheme, or
- your scheme closes down.
You can either:
- apply to a new scheme of your choice, or
- be allocated automatically to one of the 9 default schemes.
Have your say about this page
Is there something wrong with this page?
Last Updated
Page last updated: