Want to get $521 for free??

Want to get $521 for free??

Do you want free money? Of course you do!! 

Well you’re in luck because you could be getting a cool $521.43 from the government added to your KiwiSaver account if you follow a few simple steps! 

Read on to find out how to claim your government contribution AND some other ways you can maximise your KiwiSaver funds! 

What is the annual government contribution? 

Every year, the government makes a contribution to all eligible KiwiSaver account holders. 

For every $1 you put towards your KiwiSaver, the government will contribute 50 cents up to a maximum amount of $521.43! 

All you need to do to get the maximum amount is contribute at least $1,042.86 to your KiwiSaver before 30th June 2022!

Am I eligible for it? 

Most people will be eligible for the government contribution if they meet the below criteria:

  • You’re a KiwiSaver member 

  • You live predominantly in New Zealand

  • You’re 18 years or older

  • You can’t make retirement withdrawals

There are some exceptions which may be relevant to you. You can find these on the IRD website

What do I need to do? 

So if you’re eligible to receive the government contribution then here’s a rundown on what you need to do!

Chances are you don’t actually have to do anything! Most eligible full-time employees will be well on their way to making the $1,042.86 requirement each year. If you’re even just contributing 3% to your KiwiSaver and working full-time then you’ll easily make enough to get the full government contribution. 

However, if you’re not a full-time employee, then you may have to think more carefully about how you’ll reach the $1,042.86 amount. There are plenty of options though! You can increase your KiwiSaver contribution rate (if you’re just on 3%, you may want to bump it up), you could set up automatic voluntary contributions or put in one large lump-sum contribution to get to the target. 

At the end of the day though, don’t worry if you’re not able to reach the $1,042.86 amount! This isn’t an all or nothing situation, every bit you put towards your KiwiSaver will be rewarded by the government. So even if you only put $100 in, you’ll still get $50 from the government! So just do what you can!

What if I’ve stopped or started contributing for only part of the year?

To get the maximum amount of the government contribution, you need to have been a member of a KiwiSaver scheme for the whole year (from 1st July 2021 to 30th June 2022) and contributed a minimum of $1,042.86 for the year. 

Great news though! Even if you’ve only started contributing part-way through the year, you’ll likely still get something! 

If you’ve turned 18 throughout the year or simply joined a KiwiSaver scheme part-way through the year, then the government contribution you receive will be based on how many days in the year you’ve been an eligible KiwiSaver member. 

This rule also applies to those who part-way through the year may have reached the age where they can stop contributing to their KiwiSaver - which for most people is 65. Your government contribution will be based on how long you were an eligible KiwiSaver member during the year.   

Don’t wait, get onto it now! 

The most important thing is to get on top of things now! If you don’t reach the $1,042.86 amount by the 30th June then you’ll miss out on the full government contribution!

So the best thing you can do now is to contact your KiwiSaver provider and check either: if you’re on track to reach the target amount or what options are available to help you get there. 

You can also log into your MyIR account on the IRD website to check how much you’ve contributed to your KiwiSaver!

That June deadline will come around faster than you think! So get onto it! You don’t want to miss out on all that free money!!

Unsure about your KiwiSaver? Use this fantastic tool! 

Hearing about the government contribution has probably got you thinking about how you’re managing your KiwiSaver funds! That’s great! It’s never too early to think about your savings for the future. This article is proof enough that it’s important to think ahead! 

We understand though, that for a lot of people, managing your KiwiSaver funds can be really confusing. It’s easy to get lost and start to feel unsure on whether you’re doing the right thing. 

If you’re feeling this way then you should definitely use National Capital’s KiwiSaver Healthcheck

The good sorts over at National Capital have created a FREE tool that’ll gather key information about your KiwiSaver to provide you with tailored advice from National Capital on which Kiwisaver fund is best for your needs. You can then chat to one of their financial experts!

Otherwise, feel free to read some of our tips on how to maximise your KiwiSaver savings! Click here

Don’t forget to use Money Compare!

As you look into your Kiwisaver funds, it’s also a great time to check out and compare all your other financial plans! 

Not sure the best way to compare your financial plans? Don’t worry, we’ve got you covered!


Money Compare is the best way to compare your financial plans. You can compare your home loan, car insurance, business insurance, personal loans and much more! 

You’ll save heaps of money and find the perfect plan that meets your needs! 

Best of all, it’s super easy! Just jump on our website, enter in a few details, select filters that match your preferences and then you’ll see all the plans available to you. Then you can compare them all side-by-side on one page! 

It couldn’t be simpler! 

So what are you doing? Go check on your KiwiSaver funds now

Take control of your future! Get that free money!

*This is only an educational guide for your Kiwisaver funds. It is in no means specific financial advice. Please consult a professional financial advisor (like the ones at National Capital) for any specific financial advice you may require.*

Friday, 13 May 2022