KiwiSaver for Home
KiwiSaver is a voluntary, work-based savings initiative to help you with your long-term saving for retirement. It has a range of membership benefits including contributions from your employer and the government, as well as help with buying your first home.
KiwiSaver is a great option to help customers get into their first home:
If a KiwiSaver member is a first home buyer, they can apply to withdraw any contributions they and their employer have made to their KiwiSaver scheme to help purchase a home provided they meet qualifying criteria. (See www.KiwiSaver.govt.nz for more information)
Where a customer has been a home owner previously but they are in the same financial position as a first home buyer then second chance home withdrawals may apply.
They must meet Housing New Zealand qualifying criteria and a copy of Housing New Zealand’s approval must be provided confirming that the customer’s KiwiSaver funds will be made available towards their house purchase. (See www.hnzc.govt.nz for more information)
KiwiSaver For Saving
KiwiSaver is a voluntary, work-based savings initiative to help set you up for your retirement. Your KiwiSaver savings are made up of your contributions, plus government contributions, plus or minus investment returns, minus any withdrawals, fees and taxes. To help you save, the Government will make an annual contribution towards your KiwiSaver account as long as you are a contributing member aged 18 or over.
More information from Member Tax Credit
Details are here: KiwiSaver makes home easy