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KiwiSaver government contributions 101: All you need to know

Published on 24/05/2024



Govt contributions blog May 2024

If you're eligible, you could qualify to receive an extra boost to your KiwiSaver account on an annual basis. For every dollar you put into your KiwiSaver account between 1 July and 30 June each year, the government will put in 50 cents, up to a maximum of $521.43! Each year thousands of Kiwis miss out on this "free money" from the government, simply because they didn’t know enough about it or didn't contribute enough to their KiwiSaver account! To maximise your Government Contribution for the current KiwiSaver year (1 July 2023 – 30 June 2024), you need to check two things.


1)  If you’re eligible

2)  If you need to top up your contributions before 30 June


How do I determine whether I'm eligible?


To check your eligibility, you need to answer 'yes' to the following three questions:

  • Have you been in KiwiSaver for more than 1 year
  • Are you aged 18-65?
  • Have you been living in NZ (for at least 6 months) this KiwiSaver year?


If you can answer ‘yes’ to all three questions, you’re likely eligible for the Government Contribution. If you were eligible for a portion of the KiwiSaver year, you’ll still be eligible to receive a partial (pro-rated) Government Contribution based on the time you met the criteria.


Have I contributed $1042.86 in employee or voluntary contributions?


Once you've determined your eligibility, you will need to determine whether you've contributed enough via your employee and/or voluntary contributions to receive the maximum amount that you are eligible to receive.


Employee contributions


To see how much you have contributed in the current KiwiSaver year (which started on 1 July 2023 and finishes on 30 June 2024) please check your MyIR account here: www.ird.govt.nz/kiwisaverNote if you haven't yet set up your MyIR account, you'll need to do so first.



Under the ‘KiwiSaver member’ heading on the summary page, please select ‘Contributions summary’ 

Here you can see the total amount that’s been deducted from your salary/wages. If this is more than $1042.86 then you’ll receive the maximum Government Contribution that you’re eligible for. 




Voluntary contributions


For contributions sent directly to Simplicity, please log in your online account the, select ‘Transactions’ then filter by ‘Voluntary Contributions’. If you joined Simplicity during the KiwiSaver year but made voluntary contributions to your previous provider, you’ll need to get in touch with them to confirm how much was received into your account.


Note that any voluntary contributions which have been paid directly to your KiwiSaver provider (rather than via your wages) won't be recorded by the IRD, but these contributions will be included in the calculation for your Government Contribution payment.


Do you need to top up your contributions?


If you’ve discovered that you need to top up your account to maximise your 2024 Government Contribution, please click the 'deposit' button when you're logged into your online access for instructions. Please note processing can take a few days from when you initiate the transfer so please make your voluntary contribution with plenty of time prior to the 30 June cut-off. We suggest to our members that they make any top ups by 24 June to ensure the funds clear in time.

If you're eligible and you've contributed enough to your KiwiSaver account before 30 June, we'll arrange the Government Contribution for you. It is estimated to arrive in your account by late July. 


Still keen to learn more about the KiwiSaver Government Contribution? You can listen to our recent podcast here.



The information provided and opinions expressed in this post are intended for general guidance only and not personalised to you. These materials do not take into account your particular financial situation or goals and are not financial advice or a recommendation. This post is not intended to convey any guarantees as to the future performance of any of the investment products, asset classes, or capital markets mentioned. Past performance is no guarantee of future performance. Information is current at the time of posting, and subject to change without notice. Simplicity NZ Ltd is the issuer of the Simplicity KiwiSaver Scheme and Investment Funds. For Product Disclosure Statements please visit our website simplicity.kiwi.