FAQs I Shaw and Partners

What is KiwiSaver and how does it work?

KiwiSaver is a voluntary savings initiative designed to help New Zealanders save for their retirement.

KiwiSaver is a locked in Scheme designed to help you save, as such your money is locked in until you are 65 unless you meet certain criteria for early withdrawals.

Generally, your employer will also contribute from your before-tax pay from when you turn 18 (or 16 from 1 April 2026) until you reach your KiwiSaver Retirement Age. Your employer may not have to make KiwiSaver contributions if they already make contributions for you to another retirement scheme (certain conditions apply) or if you are taking a savings suspension or otherwise not making employee contributions.

In addition to your employee contributions there are some additional attractive incentives to encourage you to join KiwiSaver.

Your contributions

  • If you are in paid employment, you can choose to save 3.5%, 4%, 6%, 8% or 10% of your pay (before tax). Contributions are taken from your pay directly.
  • The default contribution rate is 3.5%. However, from 1 April 2028, the default contribution rate will increase from 3.5% to 4%.
  • If you are self-employed, you can still contribute to KiwiSaver.

Employer contributions

  • If you’re over 18 (or over 16 from 1 April 2026) and contributing into KiwiSaver, you may be entitled to employer contributions. 
  • Employer contributions are a minimum of 3.5% of your before-tax pay and are subject to tax.
  • From 1 April 2028, minimum employer contributions will increase from 3.5% to 4%.


Government contributions

  • When you are aged between 16 and 64 and regularly contributing to KiwiSaver, the government may also contribute to your savings – up to $260.72 each year.
  • You must be mainly living in New Zealand (or meet certain other criteria) and have an income of $180,000 or less to be eligible for government contributions.
  • In order to receive the full government contribution of $260.72, you will need to have contributed at least $1,042.86 in the year into your KiwiSaver account. Please note that the government contribution is calculated on a pro-rata basis when you are first eligible to join KiwiSaver (when you turn 16) and in the last year (when you turn 65).
  • We will send you a reminder each year to make sure that, if you are eligible, you have contributed enough to get the maximum amount of government contributions. 

 

Joining or transferring to the Shaw and Partners KiwiSaver Scheme

Whether you are brand new to KiwiSaver or transferring to the Shaw and Partners KiwiSaver Scheme, joining our scheme is easy. You will need your IRD number and photo ID like a passport or driver's licence. To join click here. 

Please be aware that if you join KiwiSaver for the first time through your work, there is a mandatory 62-day holding period with the IRD after which the funds will be transferred to us for investment.

If you’ve been automatically enrolled by your employer but do not want to be a KiwiSaver member you can opt out.  If you do not opt out, your employer will continue to deduct contributions from your pay.

You can opt out between the end of week 2 and week 8 of starting work. That is on, or after, day 14 and on or before day 56.

For more information, check the IRD’s website

 

How to increase your KiwiSaver contributions

You can set your contribution rate at either 3.5%, 4%, 6%, 8% or 10% of your salary or wages. Simply tell your employer in writing the rate you would like to increase it to and complete the IRD KS2 form.

The default contribution rate is 3.5%. However, from 1 April 2028, the default contribution rate will increase from 3.5% to 4%.

You can also contribute above what is being deducted from your salary or wages by setting up a direct debit, and saving directly into your KiwiSaver account, or by making a lump sum contribution.

Set up a direct debit

If you want to make regular additional voluntary contributions to the Shaw and Partners KiwiSaver Scheme, contact us to request a direct debit authority form to set this up.

Direct credit via your online banking

You can also set up regular additional payments or do a one-off payment via your online banking straight into your KiwiSaver account using the following details:

Bank account name: Shaw and Partners KiwiSaver Scheme
Account number: 12-3244-0021856-00  
Payer Reference: Investor’s name and IRD number[DY1] 

 

Who can join KiwiSaver?

You can join KiwiSaver if you are:

  • a New Zealand Citizen, or entitled to live in New Zealand indefinitely; and
  • living or normally living in New Zealand.

If you are under the age of 18:

  • To join you will need to contact us (0800 80 87 87 or [email protected]) - you can't join through your employer.

If you are 16 or 17:

  • One of your legal guardians must co-sign your application form with you. If you don't have a legal guardian you may enrol yourself directly with us.

If you are under 16 years old:

  • One of your legal guardians will need to give their consent. You can't enrol yourself.

 

How do I change my investment strategy?

The Shaw and Partners KiwiSaver Scheme investment funds can be combined any way you choose and changed any time, free of charge. You can do it online, using your Shaw and Partners member login.

 

Are there any costs to transfer or switch?

No, we do not charge for transfers to the Shaw and Partners KiwiSaver Scheme or switches between funds in the Shaw and Partners KiwiSaver Scheme.

For further information on the costs and fees relating to the Shaw and Partners KiwiSaver Scheme, please refer to our product disclosure statement.

 

Can I continue to invest if I am over 65?

Yes, you can leave your savings in the Shaw and Partners KiwiSaver Scheme until you want to access them.

Need financial advice? 

If you would like advice about the Shaw and Partners KiwiSaver Scheme, talk to your financial adviser. For help finding a financial adviser, contact us.

 

How do I make a complaint?

If you have any issues or concerns about your investment, please contact Smart (the Scheme manager) at: Complaints, Smart, PO Box 105262, Auckland 1143, Phone: 0800 80 87 87, Email: [email protected].

If for any reason we are not able to resolve the matter, you can also contact the Scheme Supervisor at: Complaints, Public Trust, Private Bag 5902, Wellington 6140, Phone: 0800 371 471 Email: [email protected].

If we or the Supervisor are unable to resolve your complaint, you may refer it to Financial Services Complaints Ltd (FSCL) - A Financial Ombudsman Service. They can be contacted at: Financial Services Complaints Limited, PO Box 5967 Wellington 6140 Phone: 0800 347 257. The Financial Services Complaints Limited Scheme will not charge you a fee to investigate or resolve a complaint.