The KiwiSaver Government website publishes monthly statistics about KiwiSaver to show details such as join rate and demographic information about contributors.
When you look at the breakdown of individuals in terms of their average age, you can see that there is a fairly even distribution of contributors.
KiwiSaver caters to young and older demographics so it is no surprise to see 594,000 contributors aged from 25-34 and 511,000 contributors in the 55 plus cohort.
The latest annual statistics about KiwiSaver show that as of June 2017, over 2.8 million people had signed up for KiwiSaver. 1.1 million people had also joined through automatic enrolment.
Despite the strong sign up rates, there are still over 1 million people that have not signed up to KiwiSaver.
Before you join, we want to share with you five things that you need to know, and also explain how to use our KiwiSaver Comparison Tool.
There are three methods that you can use to join KiwiSaver:
If you are self-employed, you can still enjoy all of the benefits of KiwiSaver except for the employer contributions. You can make the decision on how much you agree to contribute.
KiwiSaver is an investment savings initiative that is designed to cater for the needs of people at different ages.
Whether you are saving for your first home deposit or looking to build a healthy retirement nest egg, KiwiSaver can help you.
For every dollar that you contribute to your KiwiSaver account, the New Zealand Government will match every dollar you put in by 50 cents.
This figure caps at a maximum of $521 per year. Anyone earning $35,000 or more and contributing 3% will receive this full amount every year.
Your KiwiSaver contributions and funds are managed by private KiwiSaver providers and not the government.
Your provider will invest your money into different assets based on the fund that you choose.
If your KiwiSaver provider goes out of business there is no need to worry as your investments are protected in trusts.
In no way does KiwiSaver affect your eligibility for New Zealand Superannuation.
Think of KiwiSaver as an add-on to your NZ Super. NZ Super on its own is great but with KiwiSaver contributions, you can have a much better nest egg when you enter retirement.
Thinking about joining KiwiSaver but not sure which fund or provider to start with? At glimp, we help Kiwis make the decision of choosing the right fund easier with our KiwiSaver Comparison Tool.
Quickly Compare KiwiSaver Funds from a number of providers in New Zealand and find information such as annual return, fund value and any associated fees.
Fuel prices in NZ are currently at a record high. Here are some effective tips on how to save money on your next drive.
YouTube and TikTok are the most popular sources of financial education and literacy among Gen Z. Here's our list of the best pe...
Sign up didn't go quite the way it was meant to. But Kate called and she walked through everything so we could work out what went wrong. she was patient, friendly, supportive and kept me calm to finally get plan registration sorted ( still can't log in though - she must be magic )
Found it really easy to find what i needed and also got a call regarding what deals might be best suited etc. Saves a lot of time. Highly reccommend glimp
Easy site to navigate. Gave me great options that suit my household including reputable providers I wasn't familiar with.
I’ve just had a great experience with Kurt from glimp compare. He helped me through the process from the time I clicked onto the website, via the chat function. Long story short I have signed up to a new power and broadband provider with significant cost savings. There was no pressure at any stage, just respectful guidance and facilitation to initiate the new supply.
Good options, but ideally an option to combine & compare cost for best mobile + broadband option would be nice.