Maximise your KiwiSaver savings with the annual Government contribution

With household budgets being squeezed, it’s not always easy to save money. So we’re proud to have distributed over $202 million in KiwiSaver Government contributions across our ANZ-managed KiwiSaver schemes this year. Sixty one percent of our members received the full amount, and a further 18% received a partial amount – 451,696 savers in total. Well done. 

If you didn’t get the Government contribution this time, there are some simple steps you can take to make sure you get your contribution next year.

If you’re eligible, the Government contributes 50 cents for every dollar you put in, up to a maximum of $521.43 each year. 

It’s calculated based on your contributions between 1 July to 30 June. To get the full amount, you’ll need to contribute $1,042.86 by the end of June.

Other than putting money in your account, you don’t have to do anything to claim the Government contribution. Your KiwiSaver provider takes care of this for you and pays the money directly into your KiwiSaver account, usually by the end of August.

You’re generally eligible for the Government contribution if:

• You live in New Zealand
• You put money in your KiwiSaver account
• You’re aged 18-64 (or older if you’re not eligible for a retirement withdrawal).

Find out more about eligibility:

Don’t worry if you’re only eligible for part of the year (for example, if you took a break from contributing to your KiwiSaver account, or turned 18 partway through the year). You’ll still get part of the Government contribution. The amount will be based on the number of days in the year you were eligible. 

If you’re employed, earn at least $35,000 a year, and contribute at least 3% of your salary or wages, you should qualify for the full Government contribution automatically. 

But there are lots of reasons why your contributions might not reach $1,042.86 by the end of June. For example, you might be a stay-at-home parent, a contractor, self-employed, or simply not receiving regular income. In this case, you might need to top up your KiwiSaver savings to get the maximum Government contribution.

It can be easier to make payments throughout the year rather than try and find the money all at once in June – so think about setting up a regular automatic payment  to lighten the load. Just $21 a week (or $87 a month) can ensure you put enough into your KiwiSaver account to receive the full Government contribution. 

And remember, every little bit counts. So if that’s not realistic right now, a smaller amount (or contributing whenever you have a bit of extra cash) will help ensure you receive some of the free money that’s available to you. 

Money doesn’t grow on trees – but ensuring you receive the annual Government contribution can certainly help it grow in your KiwiSaver account. Check out our case study to understand more about how small choices today can affect your retirement savings.