How much you have to save depends on whether or not you are an employee.



If you are an employee the government sets some rules. The minimum savings level is 3% of your total, before tax, taxable pay and this is collected through the PAYE tax system.  You can choose to increase the 3% to 4% (or 8%) and to reduce it back to 3% whenever you choose. 

As an employee you have to save the minimum 3% for at least 1 year. After 1 year, you can stop at any time (i.e. go on a contributions holiday). 

Employees can also make extra savings direct to a provider i.e. not through the PAYE system. There are no restrictions on this and it is up to the employee and the provider to decide. SuperLife lets each employee decide what they wish to do and when they wish to do it.

Where an employee saves at least 3% through the PAYE system, their employer must also pay a minimum of 3% to subsidise the employee's savings if the employee is 18 or older, and under their KiwiSaver Retirement Age. The employer's 3% subsidy is subject to employer superannuation contribution tax (ESCT).



If you are not an employee there are no rules about how much you must save other than what your KiwiSaver provider sets – SuperLife sets no rules. This means that under SuperLife you can choose to save as much or as little as you like, including nothing.

If you are 18 or older, saving at least $1,042.86 a year (i.e. $87 a month) until you reach your KiwiSaver Retirement Age maximises the government-paid member tax credits (MTCs).