The following changes to KiwiSaver are proposed to be effective from 1 April 2019.
Additional KiwiSaver contribution rates of 6% and 10%
Maximum contribution holiday to be reduced to one year
Contributions holiday to be called “savings suspension”
Over 65-year-olds to be allowed to opt in to KiwiSaver
The following change is proposed to be effective from 1 July 2019
Removing the lock-in period, which currently affects members who join between the ages of 60 and 65. The lock -in period is to be removed because the kickstart $1000 contribution has gone. Those who have already joined KiwiSaver over the age of 60, will remain locked in.