Reasons to join
UniSaver combines all the benefits of a modern retirement savings plan with a generous employer subsidy of up to 6.75% of salary for most members. It ticks along in the background, helping to build your financial future while you get on with your career.
Set and forget
Contributions are deducted from your pay.
Your employer contributes too
All permanent part-time or full-time staff qualify for employer contributions up to 6.75% of salary if their employer is not already contributing to another superannuation scheme for them. You’ll also qualify if you’re on a fixed-term employment agreement with two years or more to run. Employer contributions for most members are higher than KiwiSaver.
You need to contribute 5% of your salary to gain the maximum employer subsidy.
Member tax credits, just like KiwiSaver
UniSaver is split into two sections, each with different rules and benefits. One offers member tax credits from the Crown in exchange for locking in contributions in the same way as KiwiSaver. You can receive up to $521.43 a year if you contribute at least $1,042.86 a year.
A flexible approach to saving
If you’re a permanent employee, you can join the standard section and/or the locked section. However, to join the locked section, you need to meet age and citizenship criteria. You can have a portion of your savings in the locked section so you earn member tax credits, and the rest in the standard section. You can access the latter if you leave your employer.
If you’re a fixed-term employee, you can only join the locked section. Again, you need to meet age and citizenship criteria.
Membership is portable. You can continue to contribute if you move to another participating employer. You may be able to leave your savings invested in UniSaver if you leave the university sector or move overseas.
Just like KiwiSaver, you may be able to withdraw your savings for a deposit towards a first home after three years’ membership.
Boost your savings at any time
You can boost your savings at any time by making additional contributions from your pay. There is no upper limit.
Find out more
Our UniSaver vs KiwiSaver calculator is an easy way to compare the savings options open to you. Enter a few details and the calculator will work out your total annual contributions, including your contributions and any employer contributions and member tax credits you might be eligible for.
Use it to compare your options within UniSaver and between UniSaver and KiwiSaver.