Mel Cook Insurance.

Life Home Vehicle Farm

Kiwisaver

The Kiwisaver scheme was designed by the Government and started on 1st July 2007, with the purpose of encouraging New Zealanders to save funds for themselves, to use in retirement. When you join you make contributions either direct to a scheme provider (I recommend AMP) or through deductions from your pay, to your provider. If you contribute via your pay, then your employer must contribute to your fund as well. Each year at the end of June Kiwisaver providers must report to the Inland Revenue Department (IRD) how much money has been contributed by you to your fund and then after the 1st July the IRD will add to your member account by matching your contributions for the year up to a maximum of $521.00. So in brief, if you put in (say) 3% of your pay and that amounted to $500, then your boss will pay $500 also and, the IRD will contribute .50c for each dollar you contribute (the IRS maximum contribution is $521pa). And that happens each year!

These are just a few of the details about Kiwisaver, there are many, many more. If you want to know how Kiwisaver can benefit you..........then  Contact Us or  Click here to join AMP Kiwisaver online

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