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.

Take 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.

List of KiwiSaver schemes