8 little-known facts about KiwiSaver

After two-and-a-half years and over 1.2 million members, there are still some aspects of KiwiSaver that don’t get that much attention.

Did you know:

1. If you've been contributing to KiwiSaver for at least 3 years, you may be able to withdraw some of your savings to help pay for a deposit on your first home (those who joined KiwiSaver right at the start will be able to apply for a first home withdrawal from 1 July this year).
    
2. If you leave New Zealand permanently, after one year you can apply to withdraw your funds (not including any member tax credits) and close your KiwiSaver account.
    
3. If you join KiwiSaver part-way through a membership year (1 July to 30 June), you’ll receive a member tax credit only for the portion of the year that you've been a member.
    
4. If you're self-employed you're not required to contribute a percentage of your pay. Instead, you agree your contribution level with your provider. Same goes if you’re not employed.
    
5. You can make voluntary contributions (lump sum payments) at any time, either directly to your KiwiSaver provider or though Inland Revenue.
    
6. If you are between 60 – 65 years old when you join, you'll have to be a member for 5 years before you can get your money out.
    
7. Having a KiwiSaver account doesn't affect your eligibility for NZ Super or reduce the amount of NZ Super you would be eligible for.
    
8. On your death, all your KiwiSaver savings are paid to your estate.

For more information on any of these points, or more facts about KiwiSaver, visit Inland Revenue’s comprehensive KiwiSaver website.