Eligibility to join |
Effective 1 October 2008, the SSRSS closed to all new members. Existing members can continue to save in the SSRSS. |
You can join a KiwiSaver scheme if you are:
- living in (or normally live in) and are entitled to reside permanently in New Zealand, and
- aged below the age of entitlement to NZ Superannuation.
If you are under 18 and want to join KiwiSaver, you must contract directly with a scheme provider. Other employees may opt in through their employer.
You can join KiwiSaver in addition to any other superannuation scheme of which you are a member. |
Employee contribution amounts |
The minimum employee contribution rate, while you are employed by a participating employer, is 1.5% of gross base salary.
Members can contribute any amount above 1.5% in increments of 0.5%. |
The minimum employee contribution rate is 2% of gross pay and employed members can contribute 2%, 4% or 8%.
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Employer contribution amounts |
If eligible, your contributions are matched by your employer up to a maximum of 3% (after deducting contribution tax) of your gross base salary.
SSRSS employer contributions count towards the KiwiSaver compulsory employer contributions.
If you are a member of both SSRSS and a KiwiSaver scheme you cannot expect to receive employer contributions to both schemes. |
If eligible, you will receive compulsory employer contributions at a rate of 2% of gross pay. |
Government Kick-start |
There is no Government Kick-start in the SSRSS. |
The Government pays a lump sum of $1,000 to your KiwiSaver account when you first join a KiwiSaver scheme. You can withdraw this contribution when you reach your KiwiSaver end payment date (the later of the age of entitlement to NZ Superannuation and completing 5 years' membership of a KiwiSaver scheme). |
Tax credit |
There is no tax credit in the SSRSS. |
For periods during which you reside mainly in New Zealand and are between 18 and your KiwiSaver end payment date, a member tax credit matching your contributions up to a maximum of $1042.86 a year (which equals $20 per week). You can withdraw these amounts when you reach your end payment date (or earlier in limited circumstances). |
Parental leave |
You can backdate your contributions for all or part of the time you are on parental leave. If you make up these contributions within 7 months of returning to work you will be eligible to receive the matching employer subsidy. |
There is no parental leave backdating facility in KiwiSaver. |
Access to funds and lock-in provisions (see also "Other withdrawal options" below) |
Employee and employer contributions are locked in to the age of entitlement to NZ Superannuation (currently age 65) but can be accessed:
- if you are fully/partially retiring from State sector employment in the ten years prior to this age, or
- from age 50, if you have permanently left State sector employment.
Voluntary contributions (all contributions made by you above 3%, or while you are unsubsidised) can be accessed at any time.
Your funds can be accessed when you die. |
All contributions are locked in to your KiwiSaver end payment date.
Your funds can be accessed when you die.
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Transferring
out |
You can transfer your SSRSS total credit to a KiwiSaver scheme at any time. Additionally, once you have left State sector employment you can apply to transfer your SSRSS total credit to an approved locked-in superannuation scheme, in NZ or overseas. |
You can apply to transfer to another KiwiSaver scheme or, if permanently emigrating, to an approved overseas superannuation scheme. |
Other withdrawal options |
You may be eligible for early access to some or all funds in the following circumstances:
- Permanent emigration1
- Serious Illness / Total and Permanent Disablement
- First home deposit (if eligible)
- Significant Financial Hardship.
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You can have early access to some or all funds in the following circumstances:
- Permanent emigration1
- Serious illness
- First home deposit (if eligible)
- Significant Financial Hardship.
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