KiwiSaver
KiwiSaver is the Government’s long term saving initiative.
Anybody under the age of 65 may join KiwiSaver either in a contributing or non-contributing capacity. Those over 18 yrs and working will have their contribution subsidised by both their employer and the Government. Those not working or self employed are still liable for a Government subsidy up to $20 per week to match their own contribution.
People who have never owned a home and have been contributing for more than 3 years may qualify for a grant towards their first home. This is not a loan but a never to be repaid grant.
There are many options available for KiwiSaver, both in the companies one can choose from and the investment strategy chosen.
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