Set your child up for future success

JUNO offers no fees for members under 18. We think KiwiSaver providers shouldn’t profit from young Kiwis. That’s why we don’t charge any fees for under-18s – we want to encourage saving from a young age.

One of the best decisions you can make is to start investing early. The longer your money’s invested, the greater chance you have of reaching your savings goals. For parents and caregivers, this is your chance to give your child a real head start.

Should I put my child’s money into KiwiSaver or a savings account at the bank?

Where to safely keep money for your child’s future is a serious decision. There are several benefits to setting up a child with a JUNO KiwiSaver Scheme account.

Benefits include:

  • No fees for anyone under the age of 18 – this really helps grow your child’s balance
  • Your child can use the money to help them with a first-home deposit – something that’s much harder to save for these days!
  • When they start their first job, your child will already be enrolled in KiwiSaver, making it easier for them
  • Your child can earn returns on their money, and usually these are more than the interest on a savings account with a bank
  • Your child will learn about KiwiSaver and all its benefits – your child will be part of a whole new generation of Kiwis using, and engaged with, their KiwiSaver account

One of the downsides of having money in KiwiSaver is that you can only access it for a first home, or when you reach 65. If you think your child will need access to this money before then, say for their education, or want more flexibility, then having it locked in a KiwiSaver account might not suit you.

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Will my child qualify for the government contribution? 

The government gives members who are contributing up to $521.43 every year, provided they contribute enough. Only members aged over 18 qualify for this.

But my kids don’t work. How do they grow their balance?

KiwiSaver’s a great way to help you save money for your child’s future. You can contribute money to this account in different ways – just contact the provider of your child’s KiwiSaver account. You may be able to do one-off payments or set up a regular automatic contribution. Balances can also grow through contributions from a part-time job or pocket money, gifts from family members or friends, or birthday money.

Because KiwiSaver is an investment, not just a savings account, you can earn returns on your money. You’ll make money from the money you have in your account, and then make money on that amount too – that’s called compound returns and it speeds up your savings.

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How do I sign my kids up to JUNO KiwiSaver Scheme?

There are many benefits to setting up your children with a JUNO KiwiSaver Scheme account. Getting started is easy.

What you need:

  • Your child's ID – a birth certificate, passport, or driver’s licence.
  • For children 16 or 17, one of their parent(s) or guardian(s) will also be required to complete the online application and verify their identity.
  • For children aged 15 and under, both their parents or guardians will be required to complete the online application and verify their identity.
  • Your child will also need to have an IRD number. Get an IRD number here.

Once you’ve set up a child with a JUNO KiwiSaver Scheme account, you’ll be given details on how to access it.

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Our Fee Structure

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For under 18s or 
balances under $5k

$5month

For balances
$5k - $24,999

$15month

For balances
$25k - $49,999

$25month

For balances
$50k - $99,999

$50month

For balances
$100k - $1 million*

*Balances over $1 million will be charged $100 a month for every million invested