Although KiwiSaver is commonly known as a retirement fund facility, it is also an incredibly useful tool to help you into your first home.
We’ll help you get your KiwiSaver set up and humming – and when the time comes to purchase your first home – ensure you access all of the KiwiSaver and government first home buyer entitlements – for free.
If you have been a member of KiwiSaver for at least three years you may be eligible to withdraw any contributions you and your employer have made, along with the Government Member Tax Credit contributions and any investment returns.
You can’t withdraw any amounts transferred from an Australian complying superannuation scheme, and you must maintain a balance of at least $1,000 in your KiwiSaver account.
If you’ve been contributing to KiwiSaver for at least three years and are buying an existing home, you may be eligible for $1,000 for each year you’ve been contributing – up to a maximum of $5,000. This means that if you’re buying a house with a partner and you both qualify for the HomeStart grant, you could get up to $10,000.
If you are buying a newly built home or a planning to build, you may be eligible for $2,000 for each year you’ve been contributing – up to a maximum of $10,000 per person.
As well as your 3%, 4%, or 8% of gross income contribution, your employer is required to put in a further minimum of 3%.
For every $1 you put into your KiwiSaver, the Government will put in 50 cents, up to a maximum of $521.43 per year.
Plus, you’ll have super smart KiwiSaver experts investing and growing your money for you.
Conservative funds – For those who are cautious investors, planning to buy their first home or are nearing retirement.
Growth funds – For medium to long-term investors who are prepared to accept more volatility with the potential of higher returns in the long run.
Aggressive – For long-term investors who are prepared to accept a higher level of volatility for the potential of long-term results.
If you have savings in an Australian superannuation fund but now live permanently in New Zealand, you can transfer your account balance to your KiwiSaver.
Your Australian superannuation savings will be converted to New Zealand dollars at the exchange rate on the day your money enters New Zealand.
The transfer won’t cause any entry or exit taxes, and we won’t charge you a fee.