KiwiSaver: Don’t miss out on free money

Breaking news – you could be missing out on extra cash for your KiwiSaver account!

One big benefit of contributing to KiwiSaver is the free money you get from the government – currently up to NZ$521 each year.

It’s pretty easy to qualify for it too.

Put in about NZ$20 a week

All you need to do is put NZ$1,043 into your account each year – about NZ$20 a week.

If you’re earning over NZ$35,000 and contributing the minimum of 3 per cent of your pay, you don’t need to worry. You already qualify. Great news!

Even if you don’t earn this amount, you can still get this extra cash. There are two ways to do this.

You can top it up

You can top up your account before the end of June – to make sure you’ve contributed a total of NZ$1,043 for the year. You’ll likely get your bonus around July or August each year.

Or just get part of it

The second way is to just receive a proportion of the available NZ$521. It's called a Government Contribution (it used to be called a Member Tax Credit). For every dollar you invest in KiwiSaver up to NZ$1,043 each year, the government will match it with 50 cents.

But if there’s free money on offer, we say try to grab the full amount!

If you’re unsure of anything, contact your KiwiSaver provider. That’s what they’re there for – it’s their job to help you understand!

Do I qualify for this free money?

You’ll receive it if you’re contributing NZ$1,042.86 each year into your KiwiSaver account, or another complying fund, and you’re aged between 18 and 65 and you’re living mostly in New Zealand. For help, ask your KiwiSaver provider.

Story by Claire Connell, JUNO

Information is current as at March 2021. Pie Funds Management Limited is the issuer and manager of the JUNO KiwiSaver Scheme. Click here for our Product Disclosure Statement. Any advice is given by Pie Funds Management Limited, and is general only. It relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees if you act on any advice. As manager of the Scheme we receive monthly fees that are determined by your balance and whether you are 13 years or over. We will benefit financially if you invest in our products. We manage any conflicts of interest via an internal compliance framework designed to ensure we meet our duties to you. For information about the advice we can provide, our duties and complaint process and how disputes can be resolved, visit All content is correct at time of publication date, unless otherwise indicated. Past performance is not a guarantee of future returns. Returns can be negative as well as positive and returns over different periods may vary. Please let us know if you would like a hard copy of this disclosure information.