About KiwiSaver.

KiwiSaver is a voluntary long-term savings initiative with special features designed to help New Zealanders save for their future. KiwiSaver is open to all New Zealand citizens normally living in New Zealand and people entitled to be in New Zealand indefinitely. 

Most KiwiSaver members will build up their savings through regular contributions from their salary or wages, which are deducted by the member's employer and passed on to the individual's KiwiSaver scheme by Inland Revenue (IR). 

Those who do not earn a salary or wage subject to PAYE can contribute directly to their chosen KiwiSaver scheme. 

What employers need to do.

Employers can choose a preferred KiwiSaver scheme. Employees who don't 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 their employees will need to provide them with a copy of the chosen scheme's product disclosure statement. If an employee 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 them to a default scheme.

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 and/or the Westpac KiwiSaver Scheme Product Disclosure Statement for more information.

Benefits of the Westpac KiwiSaver Scheme.

  • A choice of investment options managed by BT Funds Management (NZ) Limited.
  • A KiwiSaver team to answer employee questions by phone, online or in branch. Call 0508 972 254.
  • Members can view their Westpac KiwiSaver Scheme balance and transaction history using Westpac One®.

Apply now.

Fill in the form

Download the Westpac KiwiSaver Scheme employer choice form.

Download the application form

Post the form

BT Funds Management (NZ) Limited
PO Box 6088
Wellesley Street
Auckland 1141.

Talk to us

Got more questions? We can help.

Call 0508 972 254

Things you should know.

BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is a distributor, of the Westpac KiwiSaver Scheme.

The information above is subject to changes in government policy and law, and changes to the Westpac KiwiSaver Scheme, from time to time.

Investments made in the Westpac KiwiSaver Scheme and other Westpac managed funds do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, The New Zealand Guardian Trust Company Limited, or any director or nominee of any of those entities, or any other person guarantees the Westpac KiwiSaver Scheme's or other managed funds' performance, returns or repayment of capital.

For a copy of any applicable Product Disclosure Statement or term sheet for your investment or for more information about the Westpac KiwiSaver Scheme, contact any Westpac branch or call 0508 972 254 or from overseas +64 9 375 9978 or download the Product Disclosure Statement.