Most members are eligible for employer contributions up to 6.75% of salary. However, this may be reduced by the percentage of salary your employer contributes to your KiwiSaver scheme or another scheme if you have one.
- You can contribute any multiple of 0.5% of your salary with a minimum of 3%. There is no upper limit.
- Your minimum contributions will increase to 4% of your salary if your employer is not contributing at least 1% of your salary. This could occur if your employer is already contributing or is required to contribute to another superannuation scheme (including a KiwiSaver scheme) for you. Your employer’s contribution may be reduced by the percentage of salary it contributes to the other scheme.
- Your employer will contribute 1.35 times your contributions up to a maximum of 6.75%. You need to contribute 5% of your salary to gain the maximum employer subsidy.
- Your employer may cease contributions when you reach the New Zealand superannuation qualification age (currently 65 years).
- If you are a permanent employee and choose to join the locked section also:
- you must direct at least 3% of your salary to your member locked account (in multiples of 0.5%), with the balance (if any) paid to your member standard account
- your employer will match your regular contributions to the locked section, with the balance paid to your employer standard account.
- If you are a permanent employee and choose to join the locked section only, all your contributions and your employer contributions will be paid to your locked accounts.
- If you are a fixed-term employee, all your contributions and your employer contributions will be paid to your locked account.
The employer contribution entitlements outlined here may reduce if your employer is contributing or required to contribute to a KiwiSaver scheme for you. If you are employed under a total remuneration agreement entered into after 13 December 2007, it is possible that any employer contributions may (with our consent) be paid from, not on top of, your salary. Talk to your manager or HR/payroll representative about your options if you are on a total remuneration agreement. Different employer contribution rates can be agreed between you and your employer.
Member contributions are calculated on your before-tax salary but deducted from your after-tax income. ‘Salary’ is the remuneration paid to you by your employer but excludes overtime, bonuses, penal payments and other allowances. The rates shown here are a percentage of your before-tax salary. Employer contributions are subject to employer superannuation contribution tax at a rate based on your total taxable income plus employer contributions. Contribution tax is deducted from employer contributions before they are credited to your account. See tax and fees.
Changing your contributions
You can change your regular contributions from your salary at any time subject to the minimum contribution rates set out here. To change your contributions, complete form 3 change contributions . Send it to your HR/payroll representative. If you’re a permanent employee contributing to UniSaver’s standard section only, you can also use this form to join the locked section.