Why join UniSaver?

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 your employer is not already contributing to another superannuation scheme for you. 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.

Government contributions, just like KiwiSaver

UniSaver is split into two sections, each with different rules and benefits. One offers government contributions in exchange for locking in savings 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

UniSaver is split into the standard section and the locked section, which works much like KiwiSaver. 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 government contributions and the rest in the standard section. You can access the standard section if you leave your employer.

If you’re a fixed-term employee, you can only join the locked section and 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.

First-home withdrawal

Just like KiwiSaver, you may be able to withdraw your savings for a deposit towards a first home after 3 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.