If you are a KiwiSaver member and you haven’t contributed enough to receive your maximum Government Contribution, you will need to top-up before 30 June 2020.
Each year, eligible KiwiSaver members can receive a Government Contribution to their KiwiSaver account up to a maximum payment of $521.43. The Government contributes 50 cents for every dollar, on the first $1,042.86 that you contribute to your account between 1 July and 30 June.
Please note, the Government Contribution only applies to your own contributions, not your employer’s contributions, and are calculated based on the date your contributions are received by Inland Revenue. The best place to check how much you have contributed is via ‘MyIR login’ at www.kiwisaver.govt.nz.
To ensure your payment is processed in time, we encourage you to do this well ahead of 30 June 2020.
To be eligible, you must be 18 years or older, not yet eligible for retirement withdrawals, and be mainly living in New Zealand. If you only meet these requirements for part of the year, or joined KiwiSaver part way through the year, you will receive a pro-rated amount of the Government Contribution.
If you would like to know more, join or discuss your KiwiSaver, please visit our website for your adviser’s contact details or drop us a line.
