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KiwiSaver overview
KiwiSaver is a voluntary, work-based savings scheme aimed at encouraging well-informed savings habits to improve New Zealanders' financial well-being, especially for retirement. TOWER strongly supports workplace savings as a cost-effective way for people to save for the future.
It works like this: Employees choose to contribute either 2%,4% or 8% of their gross salary, which is deducted from their salary or wages by the employer on behalf of Inland Revenue. If the employee chooses a provider, Inland Revenue will forward the contributions to that provider. The employer can choose a KiwiSaver provider for their workplace. If an employee enrols, or is enrolled in KiwiSaver and doesn't choose their own KiwiSaver provider, they will be enrolled in the KiwiSaver scheme the employer has chosen. If the employee and the employer haven't chosen a provider, a default KiwiSaver provider will be assigned to them. The Government has selected TOWER as one of six KiwiSaver default providers.
If you've been thinking about joining KiwiSaver, or if you'd like to add the TOWER KiwiSaver Scheme to your current investment savings, it's a great time to talk to TOWER. For more information and to obtain an investment statement, visit www.tower.co.nz/kiwisaver or call 0800 808 808 or email investments@tower.co.nz.
If you are an employer, you will have some obligations under KiwiSaver. TOWER can provide your business with the information and support your need to get KiwiSaver up and running, and we can help you and your staff get the most out of KiwiSaver.
If you’re an employee, choose TOWER as your KiwiSaver provider. We’ll give you the information and support you need, and you can feel confident that you’re investing with experienced investments experts.
As well as the usual benefits of regular work-based savings, KiwiSaver has one or two extras including a $1000 kick-start contribution on joining your first KiwiSaver scheme, assistance with members’ fees, tax incentives and a first-home deposit subsidy (subject to meeting qualifying criteria). TOWER can help you to make the most of KiwiSaver.
Want to know more?
Useful Links
For further information on the TOWER KiwiSaver Scheme or to check out your options, please contact us, or visit kiwisaver. |
