Five key features of KiwiSaver changes 15 Nov 2018

The following changes to KiwiSaver are proposed to be effective from 1 April 2019.

  • Additional KiwiSaver contribution rates of 6% and 10%
  • Maximum contribution holiday to be reduced to one year
  • Contributions holiday to be called “savings suspension”
  • Over 65-year-olds to be allowed to opt in to KiwiSaver

The following change is proposed to be effective from 1 July 2019

  • Removing the lock-in period, which currently affects members who join between the ages of 60 and 65. The lock -in period is to be removed because the kickstart $1000 contribution has gone. Those who have already joined KiwiSaver over the age of 60 will remain locked in.

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