KiwiSaver is a voluntary, work-based savings scheme for New Zealand residents aged up to 65, aimed at helping provide for their long-term retirement saving.
Anyone over 18 years old starting a new job from 1 July 2007 is automatically enrolled. Existing employees can enrol in KiwiSaver at any time.
One of the great things about KiwiSaver is that individuals can select their own KiwiSaver scheme however they can only have one KiwiSaver scheme at any time.
Everyone enrolling in KiwiSaver will have a $1,000 kickstart credited to their KiwiSaver account by the Government. This is paid three months after joining KiwiSaver.