The Kiwi Saver Scheme is a retirement savings scheme, that the Government of New Zealand introduced on Monday 2nd July 2007.

Though, it's not mandatory for all employees to contribute to this scheme, it is recommended to have one, as it helps save for the retirement of an individual. Usually if one is a member of a Kiwi Saver Scheme, a minimum of 3% is required to be saved towards the Kiwi Saver and the employer will contribute minimum 1% from their end, hence this way and an individual can save quite a lot of money over a period of time and have funds for their retirement. The Government too every June contributes $520.00 towards the scheme to boost up the savings, this is provided the combined contribution from the employee and employer is a minimum of $1040/- pa.

This money can be withdrawn for the following reasons:

• 1. Buy 1st home.
• 2. Severe Hardships due to sickness or disability.
• 3. Upon Retirement at the age of 65.

In New Zealand, Kiwi Saver is promoted by about 30-35 Investment Companies. These companies have Fund Managers who invest the funds in various portfolios.

One must be aware and compare the cost of fees and returns when investing in Kiwi Saver.

Kindly review your Kiwi Saver performance annually, to get the best result out of your Kiwi Saver when you retire after the age of 65.