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Kiwisaver
The KiwiSaver scheme, a New Zealand savings scheme, came into operation from Monday, 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home. A policy initiative of the Fifth Labour Government of New Zealand (in office 1999–2008), KiwiSaver is governed by various Acts of Parliament, including the KiwiSaver Act 2006 (passed in September 2006). As at 31 March 2021, the Financial Markets Authority (NZ) reports $81.6 billion in assets is managed by KiwiSaver providers. Basic operation Anyone who is entitled to live in New Zealand indefinitely and who normally lives in New Zealand is entitled to join KiwiSaver. Those under 18 require parental consent to join. Employee participants can choose to contribute 3%, 4%, 6%, 8% or 10% of their gross pay, and can switch rates three months after setti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
KiwiSaver Logo
The KiwiSaver scheme, a New Zealand savings scheme, came into operation from Monday, 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home. A policy initiative of the Fifth Labour Government of New Zealand (in office 1999–2008), KiwiSaver is governed by various Acts of Parliament, including the KiwiSaver Act 2006 (passed in September 2006). As at 31 March 2021, the Financial Markets Authority (NZ) reports $81.6 billion in assets is managed by KiwiSaver providers. Basic operation Anyone who is entitled to live in New Zealand indefinitely and who normally lives in New Zealand is entitled to join KiwiSaver. Those under 18 require parental consent to join. Employee participants can choose to contribute 3%, 4%, 6%, 8% or 10% of their gross pay, and can switch rates three months after setti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |