How long does it take to opt out of KiwiSaver?

8 weeks
We must approve requests to opt out after 8 weeks (57 days).

How do I close my KiwiSaver account?

If you’ve already withdrawn some of your KiwiSaver savings in the past , or if you joined KiwiSaver when you were already 65, you don’t need to complete a statutory declaration. You’ll have the option to specify a new regular withdrawal, request a one-off payment, or request the full closure of your account.

Can employers opt out of KiwiSaver?

Employers must cease KiwiSaver deductions New employees who have been automatically enrolled because they were not already a member of KiwiSaver can choose to opt out of the scheme. They can only opt out between their 14th and 56th day of employment.

Do I have to opt into KiwiSaver?

If you do not get automatically enrolled, you can join by asking your employer, or directly with a KiwiSaver provider. Your employer will also make compulsory contributions. You have 8 weeks to see if you want to be in KiwiSaver or not. If you do not want to be in KiwiSaver, you can opt out.

What happens to my KiwiSaver if I stop working?

What happens if I stop working? If you stop working for any reason, your workplace KiwiSaver deductions will stop, but your KiwiSaver account will stay open.

Can I stop paying into KiwiSaver?

If you’ve been automatically enrolled but do not want to be a KiwiSaver member you can opt out. You can opt out between the end of week 2 and week 8 of starting work. If you do not opt out, you will stay in KiwiSaver and your employer will continue to deduct contributions from your pay.

Can I use my KiwiSaver to pay off debt?

Your KiwiSaver funds and bankruptcy Your KiwiSaver funds are an asset. You may be able to use your KiwiSaver funds to pay off your debts if you become bankrupt. However in the case of a KiwiSaver scheme, the funds are protected from your creditors while they remain in the fund.

Can you withdraw KiwiSaver to pay off debt?

Your KiwiSaver funds and bankruptcy You may be able to use your KiwiSaver funds to pay off your debts if you become bankrupt. However in the case of a KiwiSaver scheme, the funds are protected from your creditors while they remain in the fund.

Who is not eligible for KiwiSaver?

Your employee cannot join KiwiSaver if they: hold a temporary, visitor or student visa. are a New Zealand citizen or someone who can live in New Zealand indefinitely, but they’re just visiting New Zealand or on holiday.

Can I rejoin KiwiSaver?

Yes. If you close your KiwiSaver account or have closed one in the past, you can open a new KiwiSaver account so long as you’re living or normally living in New Zealand and a New Zealand citizen (or entitled to permanent residence).

Can I have 2 KiwiSaver accounts?

Because you can only have one KiwiSaver account, it is easy for any or all of your employers to deduct KiwiSaver contributions from your pay and ensure that they go to your KiwiSaver account, even if you have deductions from two (or more) jobs.

Can I withdraw my KiwiSaver early?

You may be eligible to withdraw KiwiSaver funds early if you are experiencing financial hardship. To withdraw funds you will need to provide evidence you are suffering significant financial hardship. If your application is accepted you can only withdraw your and your employer’s contributions.

If your employee gives you their KiwiSaver opt out request – KS10 and it’s within 14–56 days of starting work with you, you can straight away stop: making KiwiSaver deductions from their pay paying your compulsory employer contributions and the employer superannuation contribution tax. If your employee sends their KS10 to us and we:

When do I have to opt out of Kiwi?

New employees you’ve automatically enrolled into KiwiSaver can ask you, or us, to opt them out. Between 2-8 weeks of starting work. New employees you’ve automatically enrolled into KiwiSaver can ask you, or us, to opt them out. Only employees you’ve automatically enrolled can opt out of KiwiSaver.

How old do you have to be to sign up for KiwiSaver?

Some of your new employees do not have to be automatically enrolled into KiwiSaver by you. If they’re eligible, and want to join, they choose to opt in. Eligible new and existing employees aged 18 and under opt in. They can only opt in with a scheme provider. Do not automatically enrol your new eligible employees aged under 18.

When do I stop paying into my KiwiSaver account?

If you joined KiwiSaver on or after 1 July 2019 and keep working after you turn 65, you can choose to stop paying into your KiwiSaver account. Depending on your contract, employer contributions may stop. Getting the government contribution You can still get the government contribution if you joined KiwiSaver: