KiwiSaver
MBIE are responsible for administering certain aspects of the KiwiSaver Act 2006.
These include:
- Part 4 of the Act which contains governance provisions relating to KiwiSaver schemes
- Schedule 1 which contains the KiwiSaver scheme rules that apply to all KiwiSaver schemes.
KiwiSaver helps you prepare for retirement
KiwiSaver is a savings scheme designed to help set New Zealanders up for retirement. Most members will build up their savings through regular contributions from their pay. KiwiSaver member benefits (if you are eligible) include contributions from your employer and the Government, as well as help to buy your first home.
KiwiSaver is a regulated managed investment scheme
KiwiSaver is a regulated financial product called a ‘managed investment scheme’. KiwiSaver providers are regulated under the Financial Markets Conduct Act 2013. The Act sets licensing, supervisor arrangements, and disclosure requirements for managers of KiwiSaver schemes. These are monitored and enforced by the Financial Markets Authority.
As a managed investment scheme, money in KiwiSaver funds is pooled with other investors and spread across different kinds of investments.
KiwiSaver is administered by Inland Revenue
Inland Revenue is the central administrator of the KiwiSaver system. This includes transferring contributions made from your employer to your KiwiSaver provider, and any transfers between providers.
Information about joining, tax, opting-out or withdrawals –
- KiwiSaver for individuals(external link) — Inland Revenue
- KiwiSaver for employers(external link) — Inland Revenue
Consultation open: Capital Markets Reforms
The Government is considering changes to KiwiSaver regulations to enable KiwiSaver providers to invest more in private assets. Consultation closes on 14 February 2025.
In this section
KiwiSaver default fund
People who do not choose a specific KiwiSaver fund when they start work and are not already a KiwiSaver member are automatically enrolled in a ‘default fund’.
Early access to KiwiSaver
Members can withdraw their KiwiSaver savings at the time they qualify for NZ Superannuation (65 years old).
Improvements to KiwiSaver annual statements
The Government has introduced changes to improve the annual statements for KiwiSaver investors to enable them to make positive decisions about their retirement savings.
Review of KiwiSaver default provider arrangements
We are reviwing the arrangements for providers of default KiwiSaver schemes to ensure they are delivering the best outcomes for default members.
Appointment of KiwiSaver default providers
On Friday 14 May 2021, the Minister of Finance and the Minister of Commerce and Consumer Affairs announced the six KiwiSaver providers who will offer default fund services from 1 December 2021.