Amendments have been made to the KiwiSaver Act 2006.
Changes have been made to the KiwiSaver Act 2006 to refine the scheme windup provisions.
Changes have been made to allow information to be shared between Inland Revenue and the member's KiwiSaver provider. This will improve the accuracy of information held, particularly when a member's personal details, such as an address change.
A change has been made to the KiwiSaver Act to clarify that a person who is over the New Zealand Superannuation age and who transfers from a complying superannuation fund to a KiwiSaver scheme will not receive the initial Crown contribution. This $1,000 kick-start contribution is designed to encourage new savers to KiwiSaver and is inappropriate for those who are transferring from another scheme.
Changes have been made to correct an inadvertent alteration to the KiwiSaver first home facility.
Date published: 18 Apr 2011