The government will contribute up to $521.43 to your KiwiSaver account each year.
To receive your full Government contribution entitlement of $521.43, you need to contribute at least $1,042.86 to your KiwiSaver account each year.
The Government contribution year runs from 1 July to 30 June.
Even if you don't contribute $1,042.86 over the year, you can get a partial payment – as long as you pay in some money before 30 June.
For example, if you contribute $500 to your KiwiSaver account during the course of the year, you'll receive a Government contribution of $250 - so it's not all or nothing.
If you’re an employee that earns over a certain amount there’s a good chance that you may have already qualified to receive the full Government contribution, for example:
- If you earn $34,762 and make the minimum 3% employee contribution - you would contribute enough across the year to be eligible for the Government contribution. If you earn more than $34,762 a year and make employee contributions, you shouldn't have to worry - you will likely have contributed enough to get the maximum.
- If you earn $26,072 and make employee contributions of 4%. Like the example above you would have contributed enough across the year to be eligible for the full Government contribution.
If you’ve not contributed enough to receive the full Government contribution you make a voluntary contribution – learn more about how to make a voluntary contribution.
Or watch this video to get a better understanding of how government contributions work.
It's worth noting that, employer contributions, government contributions and amounts transferred from Australia under the Trans-Tasman retirement savings portability do not count towards eligibility for the Government contribution.