We all want to enjoy a decent retirement.  KiwiSaver allows you to save on a regular basis and helps you better prepare for your retirement in a way that a regular savings account can't.  

KiwiSaver benefits

If you're new to KiwiSaver, or still wondering if it's worthwhile for you, let us remind you of the benefits:

  • Your contributions are automatically deducted from your pay and invested until you're eligible for NZ Super

  • Further government rewards for keeping up your saving, currently around $520 a year

  • Employer contributions (3% of your pay if you're an eligible employee) helping your savings grow even faster

  • Help with buying your first home

KiwiSaver is not just for those who are employed. Even if you're not working or self-employed, you can still contribute to KiwiSaver and enjoy some of the benefits it offers.

KiwiSaver and first home buyer benefits

If you've been a member of a KiwiSaver scheme(s) for at least three years or a complying superannuation fund you may be able to take advantage of the first home withdrawal benefits:

With the first home withdrawal benefit you'll be able to withdraw:

  • your contributions

  • your employer's contributions

  • any member tax credits your have earned from your KiwiSaver scheme to purchase your first home, if you're eligible.

The amounts transferred from an Australian complying superannuation fund are not available for withdrawal and the home that you purchase has to be your principal place of residence within New Zealand. You may only ever make one withdrawal under this facility.

For more detailed information you should refer to the AMP KiwiSaver Scheme Product Disclosure Statement.

KiwiSaver HomeStart grant

You may also be able to receive a KiwiSaver HomeStart grant from the Government. This is a grant for eligible first home buyers buying an existing or brand new home.

  • Existing home - a grant of up to $5,000 for individuals and up to $10,000 for couples to put towards a deposit for an existing home.

  • Brand new home - a grant up to $10,000 for individuals and up to $20,000 for couples to help with the costs of buying or building a brand new home.

This is run by Housing New Zealand and isn't part of the KiwiSaver initiative, although you must be a member of a KiwiSaver scheme, complying fund or exempt employer scheme and have contributed for at least three years to be eligible for it.  Eligibility may be subject to income testing and regional house price caps and other criteria.  You must leave $1,000 in your AMP KiwiSaver Scheme account after the withdrawal, even if you have not received a $1,000 kick-start contribution.  In some situations if you have owned a home before, you may be able to make a withdrawal, if Housing New Zealand accepts that you are in the same financial position as would be expected if you have never owned a property in the past.

You're in good hands

“Team Russell” are experienced with KiwiSaver and we can help ensure you make the most of KiwiSaver. If you need help choosing a fund, our qualified Adviser can guide you through choosing a suitable investment fund or select a Lifesteps option.  And as with everything we do, we'll guide you through the process and make handling the paperwork easy.

Join KiwiSaver now

Contact "Team Russell" today to order a KiwiSaver Scheme information pack and start your savings plan today. Or apply online by clicking the link below


A disclosure statement for your Adviser is available, on request and free of charge.

AMP Wealth Management New Zealand Limited (‘AMP’) is the issuer and manager of the AMP KiwiSaver Scheme (the ‘Scheme’).  The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited (the ‘Supervisor’).  While care has been taken to supply information on this website that is accurate, none of AMP, the Supervisor, the underlying fund managers, or any of their related companies, their directors, the Crown or any other person guarantees the Scheme, any investment in the Scheme, or any returns on an investment in the Scheme, or gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.  Past performance in not indicative of future performance and is not guaranteed by any party.  Returns over different periods may differ.

For a copy of the AMP KiwiSaver Scheme Product Disclosure Statement, contact us.

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