Once you opt into KiwiSaver, you can’t then opt-out, so signing your child up to KiwiSaver is a lifelong commitment. They won’t be able to withdraw their funds, except in some limited circumstances, until they are eligible, which could be once they’re 65. They also won’t be able to withdraw funds from KiwiSaver to put towards their education or to pay for a student loan.
KiwiSaver may, however, be used to help buy a first home.
If your child is already working or starts a job they will be required to contribute at least 3% of their wages to KiwiSaver, unless they are eligible for a Savings Suspension.
Regular contributions would need to be made to keep the account open.