KiwiSaver

The KiwiSaver scheme in New Zealand is a voluntary, work-based savings initiative to help citizens with their long-term saving for retirement. From July 2007, most employees aged 18-65 will be automatically enrolled into KiwiSaver when they begin a new job. Anyone under the age of 65 can join KiwiSaver. Upon joining they receive a $1,000 kickstart and will receive an ongoing fee subsidy of $40 per year, according to the New Zealand government. For more information on the scheme, please click here.