Recent improvements for KiwiSaver members
We recently made a number of changes to make it easier to manage your KiwiSaver account.
Upgrades to KiwiSaver in myIR
Improvements to myIR, so it’s easier to see how much you've contributed to your KiwiSaver account, as well as the amount contributed by your employer and the government.
You can also see:
- what was deducted from your pay per pay-date
- your employee and employer contributions going into your account on the same day.
Use myIR to help with a HomeStart Grant
You can use myIR to create a PDF document of all of your KiwiSaver deductions and contributions. This helps with your HomeStart grant application.
You can then either print it out or save and email it to Housing New Zealand.
You can now exit KiwiSaver when you're 65
If you joined KiwiSaver before 1 July 2019 and were aged between 60-64 you would have been locked into KiwiSaver for 5 years. It meant you could not withdraw your KiwiSaver when you were 65. From 1 April 2020 you can now either:
- opt out anytime after you're 65 (and withdraw your savings)
- keep your funds in KiwiSaver for the full 5 year term (and withdraw them after that).
Improved transfers to KiwiSaver providers
Improvements to our systems so we can transfer your contributions to your KiwiSaver provider sooner. This also means your details are more accurate in your myIR account.
If you decide to change your KiwiSaver provider, the process will take around 10 days to complete. This is much faster than the previous process which could take around 30 days.
Helping you with prescribed investor rates (PIRs)
A PIR is the tax rate applied to income you earn on your investments, including KiwiSaver.
- We'll let your KiwiSaver provider know if it looks like you’re on the wrong PIR rate, so you pay the right amount of tax.
- If you're a new member enrolling into KiwiSaver we'll let you and your KiwiSaver provider know what PIR we think you should be on.
- We've added a PIR calculator to myIR. It uses the income details in your account to tell you what your PIR is. If you need to you can enter any additional income. (You'll still need to tell your KiwiSaver provider what rate to use.)