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KiwiSaver – time is running out to qualify for Government Contributions

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KiwiSaver – time is running out to qualify for Government Contributions

The Government will soon be giving all eligible KiwiSaver members (between ages 18 & 65) a free top-up of up to $521.43*.

The Government puts in 50 cents for every dollar in member contributions up to a maximum of $521.43.

Firstly, check on how much has been contributed to your KiwiSaver account during the past year (1st July – 30th June) and if it’s less than $1,043 you can top-up to get the maximum $521. You’ll need to make the top-up by this Friday 28th June.

If you’re a first home buyer trying to save the deposit then you should top-up because the extra Govt money can be withdrawn and used towards the deposit !!

*If a member has just joined KiwiSaver within the year to 30 June 2019, the Government will contribute a pro-rata amount based on the number of days they have been in KiwiSaver. If a member turns 18 partway through the year to 30 June 2019, they are eligible for the number of days they are 18. 

If a member is over 65 they may still be eligible if they have joined before 65 and have not been in KiwiSaver for five years.

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Mike Bennett

In 1985, after 7 years in the banking industry in NZ & London, Mike Bennett joined the Life Insurance Industry as an adviser. In 2001 he started “Acorn Insurance & Investment Ltd” with the key principle; “to satisfy the insurance and investment needs of New Zealanders with the best products and service possible”. To achieve the guiding principle of “best products and service” the “Acorn” uses various industry research tools to identify the best products and prices to meet our client’s needs. Acorn has agencies with most of New Zealand’s major insurance companies which means we are free to use whichever products best meet our client’s needs. Believing that if we get it right for our clients we will achieve win-win solutions. We also recognise that nearly all insurance solutions are a compromise between the benefits you’d like to have versus the premiums you’re prepared to pay – with this in mind we WON’T be trying to sell you more insurance than you need or want !!

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