If you are employed then you are required to contribute at least 3% of your gross pay towards KiwiSaver, and your employer is also required to match your contribution to at least 3%. You can apply for a savings suspension at any time if you have been in KiwiSaver for at least one year, however the savings suspension can only be for between 3 and 12 months at any one time. You do not need to give a reason and you can have as many savings suspensions as you want. If you are not employed, or self-employed and aren’t subject to PAYE, then there is no requirement for you to contribute to KiwiSaver. It’s important to note that even if you aren’t employed or don’t earn PAYE income, you are still able to receive the full annual Government contribution if you meet eligibility and contribute at least $1,042.86 in the KiwiSaver year.
