Get up to $521 from the Government in your KiwiSaver account

If you contribute just over $1,000 to your KiwiSaver account, you could be eligible for an extra $521 from the Government. Here’s how it works.

Thousands of New Zealanders are missing out on potential Government contributions to their KiwiSaver accounts. This is essentially free money, and could make a big difference to your KiwiSaver balance.


A survey conducted by the Commission for Financial Capability shows many KiwiSaver members don’t know that there’s an incentive put in place by the Government that means you could receive up to $521.43 a year just for contributing to your KiwiSaver account.

The Government will contribute 50 cents for every dollar you contribute to your KiwiSaver account – up to a maximum of $521.43, to boost your savings towards your first home or retirement. To get the maximum credit, you need to contribute at least $1,042.86 during the year (1 July to 30 June), and be eligible for the full year. The KiwiSaver website has more information about the eligibility criteria.

It’s not all or nothing

If for example you can only afford to contribute $500, you’ll still get a $250 contribution from the Government. It’s better than nothing and could make a big difference in the long run!

Topping up is easy

Increase your BNZ KiwiSaver Scheme savings with a lump sum payment at any time by transferring funds in BNZ Internet Banking, from another bank, or by converting Flybuys1 to contributions. If you're employed and want to increase your balance more slowly over time, simply increase your contribution rate which you can do by notifying your employer, your scheme provider, or Inland Revenue.  

Are you contributing enough?

It’s up to you to check if you’re contributing enough to make the most of the Government contribution. It can be a little tricky to know exactly how much you’ve contributed over the year, especially if you contribute directly through your salary or wages as there’s a delay while your contributions are processed by Inland Revenue.

To find out your latest balance, register or login to the KiwiSaver website.

As a general rule, if you’re on an annual salary or wages of $35,000 or more and are contributing at a minimum rate of 3% from your pay, then you’re likely to receive the full Government contribution. Or, if you’re self-employed or not currently working, if you don’t contribute from salary or wages but make voluntary contributions of at least $21 a week or more (for the whole KiwiSaver year), you also shouldn’t miss out.

Anything else you need to know?

If you first joined KiwiSaver part way through the year (1 July to 30 June), or were eligible for only part of the year, then your maximum entitlement will be worked out on a pro-rata basis.

• You can register and log in to ‘My KiwiSaver’, a service provided by Inland Revenue, where you can see all of the contributions you’ve made into your KiwiSaver account via your salary or wages. 

• If you’re a BNZ KiwiSaver Scheme member, log in to Internet Banking to see your recent balance. Remember, more recent contributions take time to arrive in your KiwiSaver account so visit the Inland Revenue website for your latest balance.

• Check your pay slips to see how much you’ve contributed.