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Fisher Funds TWO KiwiSaver Scheme for Employees

By joining KiwiSaver as an employee you'll be able to take advantage of the following incentives:

bulletpoint tick If you are employed and between the ages of 18 and 651, compulsory employer contributions of 3%
bulletpoint tick For every $1.00 you contribute the Government will contribute $0.50 up to a maximum of $521 per KiwiSaver year (equivalent of $10 per week) if you are between the ages of 18 and 651. This is known as the Government contribution.
bulletpoint tick First home assistance programs (if eligible)

Anyone aged between 18 and 65 starting a new job will be automatically enrolled in KiwiSaver (some exceptions apply e.g. casual agricultural workers). The employer deducts KiwiSaver contributions from the employee's first pay and continues to do so unless the employee opts out. After starting a new job, an employee can opt out any time from the end of week two through to the end of week eight and have all contributions refunded.

Employees who are automatically enrolled have 3 months to select a KiwiSaver provider of their choice, otherwise they will be allocated to one of default providers appointed by the Government.

Existing employees can also join KiwiSaver at any time by completing an application form with the KiwiSaver scheme provider of their choice or letting their employer know they want to opt in.

Employees can contribute either 3%, 4%, 6%, 8% or 10% of their gross salary or wages. These amounts are deducted by their employer as part of the PAYE process and paid to Inland Revenue who pass them onto the relevant KiwiSaver provider. Employees can also make voluntary payments over and above their regular contributions by contributing directly to the Fisher Funds TWO KiwiSaver Scheme.

1 If you joined KiwiSaver (or a complying fund) before 1 July 2019, a 5 year minimum membership requirement applies if you were aged 60 or over when you joined. During the 5 year minimum membership period you are entitled to the Government contribution, and compulsory employer contributions if you are contributing from your wages or salary. From 1 April 2020 you can opt out of this requirement and if you are aged 65 or over make a partial or full withdrawal, however if you do so you will forego your entitlement to the Government contribution and compulsory employer contributions.

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KiwiSaver for Employees

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