KiwiSaver.

KiwiSaver is a voluntary retirement savings scheme set up by the government to help New Zealanders save for retirement. You can access your balance from age 65 and, if you qualify, to help buy your first home. Learn more about how KiwiSaver works.

You can use your KiwiSaver savings:

To buy your first home
If you qualify, you can generally withdraw most of your savings to buy your first home. Then start building up your balance again for when you reach 65. Learn more about using KiwiSaver for your first home.

When you turn 65
At this milestone you have a few options. You can continue to grow your investment, withdraw your savings, or do a bit of both. Learn more about KiwiSaver at 65.

There are four ways to grow your KiwiSaver balance.

You pay in
Regular contributions come out of your wages or salary automatically. They are the easiest way to build up your KiwiSaver balance. You can choose to contribute from 3%, but if you can, it really pays to step up to a higher rate of 4%, 6%, 8% or 10% early on. You can also contribute yourself by setting up a regular automatic payment or one-off payment in online banking.

Your employer pays in
If you’re employed, and contributing at least the minimum of 3% of your before-tax pay, your employer normally pays 3% of your before-tax pay into your KiwiSaver account³.

The government pays in
If you're eligible, the government also pays 50 cents for every dollar you put in (up to a maximum of $521.43, based on contributing at least $1042.86) every year (1 July to 30 June).

Find out more about how KiwiSaver contributions work.

Returns
KiwiSaver is an investment which means, the money contributed to your account could generate more money. This is known as investment returns. Over time, those investment returns, along with the contributions made to your account, could generate more money and significantly increase the balance of your KiwiSaver account Please note investing involves risk and returns aren’t guaranteed.

Learn how to make the most of KiwiSaver investment returns.

We want to make sure you keep more of the money you invest, helping to build your future, so our KiwiSaver fees are some of the lowest in New Zealand¹.

When you choose to invest in the Westpac KiwiSaver Scheme, you’ll pay one annual fee for each Fund you’re in. This is a percentage of your total KiwiSaver balance ranging from 0.25% if invested in the Cash Fund to 0.70% if you’re invested in the High Growth Fund. Learn more about our fees.

You can access your balance from age 65 and, if you qualify, to help buy your first home. But if you’re experiencing, or likely to experience, significant financial hardship, you may be able to withdraw some of your savings. See whether you could qualify to withdraw your KiwiSaver savings early, and how to apply.