Get How Do You Fill In A Kiwi Saver Deduction Form

You're legally required to contribute to your employees' KiwiSaver at 3% of their gross salary or wage. You can contribute more if you wish. The 3% has to be on top of their total salary or wages, which include: bonuses.

The easiest way to contribute to your account is via online banking. You can choose between setting up an automatic payment or a one-off payment. Generate KiwiSaver Scheme is a saved payee with most major banks, so you can easily select us when setting up your payment.

Your employer's compulsory contributions must be on top of your regular pay. If you agreed to a total remuneration package, your employer must pay contributions on top of the package. You should not take home less in your pay because your employer is making a compulsory contribution.

But it's probably better to reduce, and preferably eliminate, your mortgage before contributing more than 3% to KiwiSaver. A financial adviser can help you compare your mortgage interest rate with the rate of return you might get from your KiwiSaver account, and see what's best for you.

Your compulsory employer contribution can go to one or be shared between them. For example, 2% to KiwiSaver and 1% to the complying fund. Your compulsory employer contribution must still be at least 3%. If you give less than 3% to a complying fund you must pay the difference to your employee's KiwiSaver scheme.

Your existing eligible employees who are older than 18 and less than 65 years of age can opt into KiwiSaver. They can either opt in through you or with a scheme provider. Your temporary and casual employee's situation can mean either you automatically enrol them in to KiwiSaver, or they can choose to opt in.

Log into myIR: select 'Change KiwiSaver Contribution Rate' under the 'more' menu of your KiwiSaver account. complete the form and submit.

KiwiSaver contributions will be deducted from each payment of your salary or wages. You may choose a contribution rate of 3%, 4%, 6%, 8% or 10%. If you don't choose a rate, the default rate of 3% applies. If you want to contribute more you can make voluntary contributions directly to your scheme provider.