Essential Information for Self-Employed People

How KiwiSaver works

Starting on 1st July 2007, KiwiSaver is a voluntary savings plan to help you with retirement saving.

• It is open to all people aged under 65 who are New Zealand citizens or entitled to live here permanently.
• If you are eligible, you can open a KiwiSaver account by contracting directly with a scheme provider, such as Professionals Group Holdings Ltd, on or after 1st July 2007.

Making contributions

You can make regular or lump sum payments into your KiwiSaver account.

• As you are self-employed, the amount you will contribute every year is agreed between you and your scheme provider. It will be a dollar amount rather than a percentage of income. The minimum contribution with PSBG KiwiSaver is $200 a year.
• You can only have one KiwiSaver account. If you become employed at any time, let your employer know if you already have a KiwiSaver account. KiwiSaver contributions deducted from your salary or wages will be paid into your existing account.

The benefits of KiwiSaver

You are entitled to all the benefits of KiwiSaver.

• $1000 kick-start from the government, paid into your account.
• A first home deposit subsidy of $1000 per year of membership (up to a maximum of $5000) will be available with some restrictions.
• For those over 18, the Government will match an individual's contributions by up to $20 per week.

The benefits of PSBG Kiwisaver

PSBG KiwiSaver has been designed to look after you in many ways.

• Simple enrolment.
• Online access to your account 24 hours a day 7 days a week.
• A website with information about KiwiSaver, savings calculators, forms and news.