What is the Government contribution?
The Government contribution helps your KiwiSaver account grow faster.
If you’re eligible, the government pays 50 cents for every dollar you contribute to your KiwiSaver account, up to a maximum of $521.43 each year. This contribution is based on your contributions between 1 July and 30 June.
Who is eligible for a Government contribution?
To be eligible for a Government contribution, you need to:
- be aged 18 or over.
- be aged under 65, unless you have been in KiwiSaver less than 5 years and first joined on or before 30 June 2020.
- have personal contributions during the year – employer’s contributions and Inland Revenue interest don't count.
- have been in KiwiSaver the full year to 30 June.
- have been a resident in New Zealand the full year to 30 June.
To get the maximum $521.43, you need to have contributed at least $1042.86 in the Government contribution year.
If you don’t contribute $1042.86 over the year, you could receive some Government contribution – as long as you’ve contributed within the year.
How to get the full Government contribution
To get the full $521.43 from the government, you need to contribute at least $1042.86.
Employed individuals earning at least $35,000 per year contributing 3% of their salary or wages to their KiwiSaver account should get the full $521.43 from the government.
If your contributions don’t reach $1024.86 by the end of the Government contribution year, you can top up your account to earn $521.43:
- Increase your contribution rate
- Make regular voluntary contributions
- Make a one-off or lump sum contribution to your KiwiSaver account.
To find out more about the KiwiSaver Government contribution, visit the IRD website.
You might also like
KiwiSaver 101: How to get the most out of KiwiSaver
Here's a few tips to help you navigate the different KiwiSaver options.
How to contribute to your MAS KiwiSaver Scheme account
You can contribute to your KiwiSaver account automatically through your employer, by making voluntary contributions or through Inland Revenue.