KiwiSaver for the self-employed

KiwiSaver for the self-employed

KiwiSaver is not just for employees. If you’re self-employed, you could still be eligible to receive $521 free money!

Not many self-employed persons realise they can pay into their own KiwiSaver. You don’t need to be an employee, you can start your own account or contribute to an account set up from previous employment.

 KiwiSaver for self-employed-Bare Bones Accounting

The Government will contribute up to $521.43 in Member Tax Credits each year for free. Contribute at least $1,042.86 into your KiwiSaver each year to receive the maximum amount of $521.43, or receive 50c per $1 contributed up to that amount.

How does it work?

If you make regular payments, or even a lump sum payment, into your KiwiSaver savings in any year between 1 July and 30 June, the government will match your payments with a contribution of 50% of what you paid, up to a maximum of $521.43.

What do I need to do to get this windfall?

If you already have KiwiSaver, ask your provider how to make a payment. You’ll receive the same free money every year you make a payment, until you turn 65.

If you don’t have KiwiSaver, start one with your chosen provider and transfer $1,042.86 into it before 30 June to receive a $521.43 contribution from the government. Make sure you repeat making this payment every year until you turn 65 and you’ll receive this free money every year.

How do I find a KiwiSaver provider?

All banks offer KiwiSaver options. If you want to set up a KiwiSaver account, either talk to your bank or look for a provider on Sorted.

If you already have KiwiSaver set up by a previous employer, you can easily switch to another provider if you wish. Contact the KiwiSaver Fund Provider you want and ask them how to switch.