KiwiSaver is a voluntary savings scheme with additional rewards from the Government. It has a flexible design to aid saving throughout different stages of your life. Your savings are not guaranteed by the Government.


KiwiSaver has a range of membership benefits.

Bonus contributions

Every year, from age 18 to 65, you can receive money from the Government into your account. This is called a Member Tax Credit (MTC), although it has nothing to do with taxes.

To receive the MTC all you have to do is contribute to KiwiSaver. The Government pays 50c to every $1 you pay in, but there is a limit. To get the maximum amount of $521.43 from the Government, you need to pay at least $1,042.86 each year. This equates to $20 a week.

If you have a job, money will be taken from your pay automatically by your employer and sent to Inland Revenue, who will then send it to us. In other cases, you can pay directly to us.

You can “top up” your contributions by voluntary payments, so you get the maximum MTC amount. Remember, the more you pay, the more you get from the Government (up to the above maximum).

You can check how much you need to deposit in order to receive the maximum MTC from the Government by logging into your account or by contacting the Koinonia team.

Buying your first home

One useful reason to contribute is when you come to buy your first home you can withdraw money from your account to go towards the cost of your house.

The money can be applied towards a deposit (subject to conditions) or paid at settlement. This allows you to borrow less from your mortgage provider.

To qualify for a First Home Withdrawal, you must:

  • be 18 years of age or older;
  • have been a KiwiSaver member for at least three years, or Inland Revenue received a contribution to a KiwiSaver scheme for you at least three years ago;
  • intend to live mostly in the home you’re buying;
  • have never before owned your own property;
  • have never before made a withdrawal to buy a first home.

If you have owned a property before, and your financial position is considered to be the same as a first home buyer, you may be able to apply to Housing New Zealand to be considered for a withdrawal as a previous home buyer.

The Board also offers mortgage finance. Please contact us for more information.

Withdrawals from age 65

Once you have been in KiwiSaver for five years and reach New Zealand Superannuation age (currently 65), you have made it to your Qualifying Date! This is when you are eligible to withdraw some or all of your money in your KiwiSaver account.

Once you reach this date you have three options available:

  • leave your savings in your KiwiSaver account;
  • take a partial withdrawal;
  • withdraw the full balance.

From your Qualifying Date, you can make partial withdrawals as and when you need to. The request must be in writing and, in the case of our Scheme, the minimum withdrawal is $2,000.

Withdrawals before age 65

There are a few circumstances where you may be able to withdraw part or all of your funds earlier than your Qualifying Date. These are for:

  • Buying your first home (see above);
  • Permanent Emigration (except to Australia);
  • Significant Financial Hardship;
  • Serious Illness.

If you move permanently to Australia, you may be able to transfer your money to a qualifying Australian scheme that agrees to accept the transfer. We cannot pay you direct.

Please contact us for more information or visit the KiwiSaver website.

Taking a break

A Contribution Holiday is where you can take a break from making payments into your KiwiSaver Scheme. You can do this once you have been in KiwiSaver for more than 12 months.

For more information visit the KiwiSaver website.