Under KiwiSaver, the government pays an annual member tax credit and possibly a HomeStart grant.

Prior to 2pm on 21 May 2015, the government also paid a one off $1,000 kick-start. In the 2015 budget the government removed this payment for new members. 


MTCs – member tax credits

If you are 18 or older and under your KiwiSaver Retirement Age, the government will pay to your KiwiSaver Account at the end of each year (1 July to 30 June), a subsidy known as a member tax credit (MTC).  The subsidy is $1 for each $2 you saved during the year, up to a maximum subsidy of $521.43. Note in your first and last years, a proportionate MTC is paid based on your qualifying membership that year.

You must be ordinarily resident in New Zealand to be entitled to the MTC.  If during the year you live outside New Zealand, other than on holiday or a business trip, you will not qualify for the MTC for that period.

Learn more about MTCs.


HomeStart grant

If you have been saving in KiwiSaver for at least 3 years, are buying your first home and meet the eligibility criteria (set by the government), the government will pay you a HomeStart grant of $1,000 for each year you have saved up to $5,000 ($10,000 for a couple where both qualify). If the first home is a newly built home, the $1,000 for each year increases to $2,000.

Learn more about using KiwiSaver to help buy your first home.