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KiwiSaver Basics Contributions Choosing the right fund Accessing your KiwiSaver About BetterSaver
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KiwiSaver Basics

What is KiwiSaver?

KiwiSaver is a long term savings scheme set up by the New Zealand Government to help you build wealth for retirement. For many Kiwis, it ends up being their biggest or second biggest asset after their home. That is why being in the right fund matters.

Can I switch KiwiSaver providers at any time

Yes. You can switch whenever you want.

Do I need to tell my employer?

Usually no. KiwiSaver contributions are sent through payroll to Inland Revenue, so they will continue automatically after you switch providers.

You only need to tell your employer if you want to change your contribution rate.

How long does switching take?

Often a few business days. Sometimes it takes longer, depending on the providers involved and whether any extra checks are needed.

Do I have to be employed to join KiwiSaver?

No. If you are self employed, studying, or not currently working, you can still join by signing up directly with a KiwiSaver provider. You will not receive employer contributions unless you are in paid work, but you can still conribute, grow your savings and may still be eligible for the government contribution.

Is the government allowed to take my KiwiSaver?

No. Your KiwiSaver is held for you under a trust structure. Your provider manages it, but it is your money, and the government can not access it.

I do not have KiwiSaver yet. How can I join?

You can join KiwiSaver by signing up directly with a provider or via BetterSaver. BetterSaver can help you choose a fund from the start, then guide you through joining based on your goals and risk comfort.
Contributions

How much do I need to contribute?

If you are employed and paid through PAYE, you can choose to contribute 3.5%, 4%, 6%, 8%, or 10% of your gross pay. If you do not choose, a default rate of 3.5% applies. If you are not paid through PAYE or not employed you can make voluntary contributions.

Does my employer have to contribute?

Yes, your employer must contribute at least the minimum rate of 3.5% if you are contributing atleast 3.5% yourself. Employers do not need to contribute more if you elect to, though some do.

Does the government contribute

Yes! The government contributes too, though the rules changed in 2025.

From 1 July 2025, the government contributes 25 cents for every $1 you put in, up to a maximum of $260.72 per year. To get the full amount, you need to contribute at least $1,042.86 of your own money between 1 July and 30 June each year.

Can I take a break from contributing?

Yes, you can! It’s called a contributions holiday (or savings suspension), and you apply for it through Inland Revenue.

You can apply for a break ranging from 3 months up to 1 year, and you can reapply each year if needed

Taking a contributions holiday means your employer stops contributing too, so it’s worth weighing up whether the break is worth losing that free money

Choosing the right fund

What are the different KiwiSaver fund types?

Funds sit on a risk spectrum, from lower risk (Defensive, Conservative) through to higher risk (Balanced, Growth, Aggressive). Higher growth funds usually move around more in the short term, but have historically had better long term return potential. The right fund depends on your timeframe and your comfort with risk.

How do I know which fund is right for me?

That is exactly what BetterSaver is built for. We analyse over 300 KiwiSaver options to help you choose the right one for your goals, whether that’s your first home or a better retirement.

Can I choose a fund based on my values?

Yes. You can tell us what you want to avoid (like weapons, tobacco, gambling, alcohol, or animal testing) and what you want to prioritise (like sustainability or investing in New Zealand). We factor that into your recommendation. Keep in mind that with KiwiSaver there is unlikely to be a perfect values match, but we can help you find a fund that closely aligns.

How does BetterSaver’s recommendation work?

We start with your risk category, then narrow the market to funds we would genuinely recommend. From there, we rank the options based on fit: fees, performance and value, and your preferences if you choose them.

We are not a KiwiSaver provider. We do not have a fund to sell you. Our job is to find the best fit.

Should I review my KiwiSaver fund regularly?

Yes. Most people never review it, but your life changes and your fund should sometimes change too. A quick annual check can make a real difference over time.
Accessing your KiwiSaver

When can I access my KiwiSaver savings?

KiwiSaver is usually locked in until 65. There are limited early access options, like buying your first home, significant financial hardship, serious illness, or permanently leaving New Zealand.

Can I use my KiwiSaver to buy my first home?

Yes. If you have been a KiwiSaver member for at least three years, you should be able to withdraw most of your balance to help buy your first home, as long as you meet the rules.

What can I withdraw for a first home?

In most cases you can withdraw your contributions, your employer contributions, government contributions, and investment returns. You must usually leave at least $1,000 in your KiwiSaver account.

My partner has owned a home before. Can I still withdraw?

Possibly. First home withdrawal eligibility is assessed individually. If you are eligible, your partner’s history does not automatically block your withdrawal.
About BetterSaver

What is BetterSaver?

BetterSaver is an independent KiwiSaver advice platform. We compare the market and match you to a KiwiSaver fund that fits your situation: your goals, your risk comfort, your values, and fees.

We are not a KiwiSaver provider

How does the BetterSaver process work?

You answer a short quiz, we recommend a fund, and if you want to switch, we can handle the sign up and transfer process for you. It is designed to be fast and simple.

Is BetterSaver free to use?

Yes. The quiz and recommendation are free. You still pay your KiwiSaver fund fees to your chosen provider, as normal.

Should I just go direct to a provider?

Providers will only promote and recommend their own funds. BetterSaver is independent, looks across the market, and gives you a straight answer about what fits you best.

How are KiwiSaver funds rated?

We rate funds using independent data across things like long term performance after fees, fees and value for money, risk and volatility, and how each fund lines up with common ethical and holdings preferences.

Do you compare the whole KiwiSaver market?

Yes. We analyse the market, but only recommend funds that meet our quality criteria.

Payments from providers do not impact our recommendations. If a provider does not support switching through BetterSaver it may limit our ongoing support.

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