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Redundancy and KiwiSaver

When you are made redundant

KiwiSaver contributions deducted from your pay will stop when your employment ends.

Contributions won't be deducted from any redundancy payment you receive.

When you start a new job

When you start a new job your employer will automatically start deducting your KiwiSaver contributions from your pay.

While you're not working

While you're not working you could consider whether any of the following options are right for your situation.

If you ... then ... Note
make voluntary contributions to your KiwiSaver account the government will pay into your KiwiSaver account an annual member tax credit. Find out about voluntary contributions
take a contributions holiday you will have a break in your saving for up to five years. You have to be a KiwiSaver member for 12 months before you can take a contributions holiday.

If you have financial hardship

If you have significant financial hardship you can apply to have your money released before you retire. You should apply to your scheme provider.

Find out more

Go to our KiwiSaver website or talk to your scheme provider to find out more.

 


Date published: 01 Jul 2011

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