Kiwisaver
- In 2007, the New Zealand Government introduced a superannuation savings plan called KiwiSaver.
- You may have heard that enrolment in KiwiSaver is automatic. However, the University is exempt from this requirement. You are not automatically enrolled in any superannuation plan at the University.
An example of how KiwiSaver works:
You decide to contribute 4% of your $50,000 salary to KiwiSaver. The University adds a KiwiSaver subsidy of 2% (tax free). You are also eligible for a personal tax credit, so your total contribution for this year amounts to $4,000.
- At your request, the University will send you a KiwiSaver Employee Pack, make deductions from your salary and forward them directly to the Internal Revenue Department.
- KiwiSaver contributions are locked-in until retirement.
More information about KiwiSaver can be found on the IRD kiwisaver website.
479 8274