Breaking news – you could be missing out on extra cash for your KiwiSaver account!

One big benefit of contributing to KiwiSaver is the free money you get from the government – currently up to NZ$521 each year.

It’s pretty easy to qualify for it too.

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Put in about NZ$20 a week

All you need to do is put NZ$1,043 into your account each year – about NZ$20 a week.

If you’re earning over NZ$35,000 and contributing the minimum of 3 per cent of your pay, you don’t need to worry. You already qualify. Great news!

Even if you don’t earn this amount, you can still get this extra cash. There are two ways to do this.

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You can top it up

You can top up your account before the end of June – to make sure you’ve contributed a total of NZ$1,043 for the year. You’ll likely get your bonus around July or August each year.

Calculate your savings with JUNO

Or just get part of it

The second way is to just receive a proportion of the available NZ$521. It's called a Government Contribution (up until this year it's been called a Member Tax Credit). For every dollar you invest in KiwiSaver up to NZ$1,043 each year, the government will match it with 50 cents.

But if there’s free money on offer, we say try to grab the full amount!

If you’re unsure of anything, contact your KiwiSaver provider. That’s what they’re there for – it’s their job to help you understand!

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Do I qualify for this free money?

You’ll receive it if you’re contributing NZ$1,042.86 each year into your KiwiSaver account, or another complying fund, and you’re aged between 18 and 65 and you’re living mostly in New Zealand.

For help, ask your KiwiSaver provider.

Join JUNO KiwiSaver Scheme

Published August 2018, updated 15 April 2019

Story by Claire Connell, JUNO

We aim to make investment with KiwiSaver easy to understand. To help us make this article reader friendly, we used The Write Plain Language Standard.

Pie Funds Management Limited is the issuer of the JUNO KiwiSaver Scheme. You can read our Product Disclosure Statement. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with a financial adviser. All content is correct at time of publication date.