KiwiSaver myths busted

Myth Busted: You don’t need to be employed to have KiwiSaver!

One of the most common questions we hear from new clients about KiwiSavers—whether they’re stay-at-home parents, recently made redundant, or job-seekers—is this: “Can I still join KiwiSaver if I’m not employed? “

The answer is a resounding yes!

KiwiSaver isn’t just for people in permanent employment. If you’re a New Zealand citizen or entitled to live in New Zealand indefinitely, and you live (or normally live) here, you’re eligible to join KiwiSaver regardless of your employment status.

Why should you bother joining KiwiSaver?

Let’s talk about the money—because KiwiSaver is a fantastic way to build your retirement savings, and the government sweetens the deal.

The government contributes 50 cents for every dollar you save in KiwiSaver, up to a maximum of $521.43 per year. That means if you can save just $20 a week, you’ll already qualify for the full $521.43 government contribution annually.

That’s free money added to your KiwiSaver account, simply for making regular contributions. Over time, those contributions, combined with investment growth, can make a significant difference to your retirement savings.

What if you’re not employed?

Even if you’re not earning a regular income, you can make voluntary contributions to your KiwiSaver account. This might mean setting aside a portion of your budget, but for as little as $20 a week, you could unlock the maximum government contribution every year.

So whether you’re:

– A stay-at-home parent

– Between jobs

– Or even taking a career break

KiwiSaver can still work for you.

Why choosing the right KiwiSaver fund matters

Here’s where it gets even better: choosing the right KiwiSaver fund can have a massive impact on your long-term savings.

The difference between being in the wrong fund and the right one can add up to tens of thousands of dollars (or more) over time. That’s why it’s crucial to ensure your KiwiSaver is tailored to your goals, your timeline, and your risk appetite.

Our team can help you review your fund and create a plan that works for your situation. KiwiSaver is a tool to build your future, and with the right strategy, it can do a lot of the heavy lifting for you.