Employers can choose a KiwiSaver scheme for their staff
Employers can choose a preferred KiwiSaver scheme. Staff members who do not choose a scheme for themselves will be allocated to their employer's preferred KiwiSaver scheme, if their employer has selected one.
Employers who choose a KiwiSaver scheme for staff members will need to provide them with a copy of the chosen scheme's product disclosure statement. If a staff member does not actively choose their own KiwiSaver scheme, or they are not allocated to their employer’s chosen scheme, the Inland Revenue (IR) will assign the staff member to a default scheme.
Selecting the Westpac KiwiSaver Scheme for your staff
Download the Westpac KiwiSaver Scheme employer choice form
File won’t open? You’ll need to download Adobe Reader.
Either post the form to:
BT Funds Management (NZ) Limited
PO Box 6088
Or fax it back to (09) 367 3301
About employer contributions to KiwiSaver
Compulsory employer contributions
Compulsory employer contributions are 3% of an eligible employee's gross salary or wages.
Employers will generally be required to contribute if the employee is:
- aged 18 or over but under age of eligibility for NZ Super (currently 65)
- contributing to KiwiSaver from their salary or wages.
Employer Superannuation Contribution Tax (ESCT) is deducted from employers’ KiwiSaver contributions before the contributions are credited to an employee’s KiwiSaver account via IR. Please refer to the Inland Revenue website link and/or the Westpac KiwiSaver Scheme Product Disclosure Statement for more information.