Saving for your retirement made easy.
While KiwiSaver is primarily to save for your retirement, it has other benefits for first homebuyers too.
NBS offers KiwiSaver through the Lifestages KiwiSaver Scheme. The manager of the Lifestage KiwiSaver Scheme is Funds Administration New Zealand Limited (FANZ).
KiwiSaver is a voluntary, work-based initiative to help with your long-term saving for retirement. It is designed to be hassle-free so it is easy to maintain a regular savings pattern.
There are a range of membership benefits to encourage you to get saving. They include regular contributions from your employer and an annual tax credit paid by the Government. Some people may also be eligible for help with the deposit on their first home.
For more information see the Lifestages KiwiSaver Scheme Product Disclosure Statement or the Lifestages Investment Funds Product Disclosure Statement and the register of offers of financial products at
For many people KiwiSaver will be work-based. This means you will receive information about KiwiSaver from your employer, and your KiwiSaver contributions will come directly out of your salary/wages. If you choose to join, contributions are deducted from your salary/wages at the rate of either 3, 4, 6, 8 or 10% (you choose the rate) and invested for you in a KiwiSaver Scheme.
As the Scheme is a KiwiSaver scheme, in most cases your money is locked in until you reach qualifying age.
This is usually the latter of:
You may be able to make an early withdrawal of part (or all) of your savings if you are:
Restrictions on withdrawals are set out in the KiwiSaver Act 2006 and within the “Other Material Information” document.
Once you've joined KiwiSaver, you could qualify for the Government Contribution. The Government will add 50 cents for every dollar you save, up to a maximum of $521.43 a year if you're eligible.
Click here for further information on how Government Contribution payments are calculated.
If you're eligible, your employer will usually also make contributions. These will be equal to 3% of your before-tax salary or wages. Your employer can contribute more than this if you have negotiated this directly with them.
Your employer’s contributions have tax taken out before they're added to your KiwiSaver account.
If you’re buying your first home or land to build your first home (or you’re in the same financial position as someone who is buying a first home), you may be able to withdraw most of your KiwiSaver savings to help pay for it after you have been contributing to your KiwiSaver for three years.
If you’ve been making regular contributions to a KiwiSaver scheme for at least three years, you can also apply for the First Home Grant through Kāinga Ora (previously Housing New Zealand).
Buying an existing or older Home?
You could be eligible for a $1,000 grant for each year you’ve contributed to KiwiSaver, up to a maximum of $5,000.
Buying a newly built home, or planning to build a home?
The grant doubles, to $2,000 per year (after three years of contributing) up to a maximum of $10,000 (after five years of contributing).
Buying a home with other people?
Each of you could qualify for a grant, up to a maximum total of $20,000 towards your first home.
The Home Start Grant is paid by the government and administered by Kāinga Ora. There are various criteria around who is eligible, including minimum contribution levels and regional purchase price caps.
Find out more at https://kaingaora.govt.nz/home-ownership/first-home-grant/.
The manager of the Lifestages KiwiSaver Scheme is Funds Administration New Zealand Limited (FANZ). The information contained on this page is for general information purposes and is designed for use by New Zealand residents only. Investments in the Funds do not represent deposits or other liabilities of NBS, and are subject to investment risk. The investment risk includes possible delays in repayment and loss of income or contributions invested. The principal and returns of the Funds are not guaranteed or secured in any way by NBS or any other person.
Funds Administration New Zealand Limited (FANZ), a wholly owned subsidiary of SBS Bank, is the issuer and manager of the Lifestages KiwiSaver Scheme (the "Scheme"). Investments in the Scheme do not represent deposits or other liabilities of FANZ or SBS Bank, and are subject to investment risk. The investment risk includes possible delays in repayment and loss of income or contributions invested. The principal and returns of the Funds are not guaranteed or secured in any way by FANZ, SBS Bank or any other person. For more information see the Lifestages KiwiSaver Scheme Product Disclosure Statement or the Lifestages Investment Funds Product Disclosure Statement and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz
Before investing, we recommend you obtain personalised financial advice. Past performance is not an indicator for future returns.