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Social Security in New Zealand

KiwiSaver

KiwiSaver is a voluntary, work-based savings initiative which is governed by the KiwiSaver Act 2006. It is administered by the Inland Revenue Department (IRD) and enables employees to save for their retirement with the incentive of assistance from the employee’s employer.

KiwiSaver savings are made up of employee contributions, government contributions and employer contributions.

An employee is generally eligible to access their KiwiSaver funds, for retirement, once he or she reaches the age of 65.

For more information on these articles or any other issues involving labour and employment matters in New Zealand, please contact Don Mackinnon, Partner at SBM Legal (www.sbmlegal.co.nz) at don@sbmlegal.co.nz
This entry was posted in Social Security, Benefits and Pensions on and modified on .