Between 1st July and 30th June, the government will assess your contributions to your KiwiSaver account. If your contributions during this period amount to less than $1,043, you can top-up to reach the maximum of $521.43. To ensure you don’t miss out, act fast and make the necessary top-up by this Friday, 28th June.
Did you know the NZ government will soon be giving all eligible KiwiSaver members (between ages 18 & 65) a free top-up of up to $521.43*? The New Zealand government will add in in 50 cents for every dollar in member contributions up to a maximum of $521.43.
What’s the cut off date for my free KiwiSaver government top up?
Maximising Benefits for First Home Buyers:
If you’re a first home buyer saving for a deposit, taking advantage of this government top-up is a smart move. The additional money contributed by the government can be withdrawn and used towards your home deposit. It’s a fantastic opportunity to boost your savings and get one step closer to owning your dream home.
Pro-Rata Contribution for New Members:
If you’ve recently joined KiwiSaver within the year leading up to 30th June 2019, the government will contribute a pro-rata amount based on the number of days you’ve been a member. If you turned 18 during that period, you’re eligible for a top-up based on the number of days you were 18. This is a fantastic incentive for young members to kickstart their KiwiSaver journey.
Eligibility for Members Over 65:
Even if you’re over 65, you may still be eligible for the government’s top-up if you joined KiwiSaver before turning 65 and haven’t been a member for five years. It’s essential to check your eligibility to make the most of this opportunity and boost your retirement savings.
Act Now and Reap the Benefits:
With the deadline approaching fast, it’s crucial to take action promptly. Check your contributions, calculate your potential top-up, and make the necessary payment by 28th June to claim your free government contribution. Don’t let this valuable opportunity slip away!
Mike Bennett AFA