Use of deposit subsidy with other schemes
- I have been saving in an Australian superannuation scheme. Will I qualify for the deposit subsidy if I transfer my savings to a KiwiSaver scheme?
- I'm already saving through another scheme — can I get the deposit subsidy?
- I am not in KiwiSaver. How do I find out if the scheme I save with is exempt from KiwiSaver automatic enrolment rules, or is a complying fund?
- Does it matter if I have saved with a number of different scheme providers?
I have been saving in an Australian superannuation scheme. Will I qualify for the deposit subsidy if I transfer my savings to a KiwiSaver scheme?
Contributions made to an Australian superannuation scheme and then transferred to KiwiSaver will not count towards eligibility for the deposit subsidy. You must contribute to KiwiSaver for at least 3 years to be eligible for the deposit subsidy.
I'm already saving through another scheme — can I get the deposit subsidy?
The deposit subsidy is available to members of KiwiSaver schemes, work-based saving schemes that are exempt from KiwiSaver automatic enrolment rules and complying superannuation funds (providing members meet the qualification criteria).
I am not in KiwiSaver. How do I find out if the scheme I save with is exempt from KiwiSaver automatic enrolment rules, or is a complying fund?
Your employer should be able to let you know the status of the fund you save with. If your employer is not sure you can contact the Government Actuary.
Does it matter if I have saved with a number of different scheme providers?
No, as long as you meet the eligibility criteria you will qualify for the subsidy.
