KiwiSaver employer contributions kick in

Workers signed up to KiwiSaver will receive their first employer contributions next week as the scheme reaches its first major milestone.

From next week all workers enrolled in KiwiSaver will receive an employer contribution to their account equal to one percent of their salary, rising to four percent by 2011.

These employer contributions will be supported by a government tax credit of up to $20 a week.

KiwiSaver has been enormously popular, with more than 500,000 people now signed up and combined savings of more than half a billion dollars already.

If you have any problems receiving your employer contribution contact the IRD on 0800 KIWISAVER or call the Union Support Centre on 0800 1 UNION.