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KiwiSaver Options
- Silas Stratford
Analytics
Selecting the correct KiwiSaver option is important as this determines whether KiwiSaver is deducted from an employee’s pay packet and what information is sent in the ED file.
More information about KiwiSaver for new employees can be found here: https://www.ird.govt.nz/kiwisaver/kiwisaver-employers/starting-employees-in-kiwisaver
KiwiSaver Options | When to use | More Info |
Exempt | · an employee not eligible for KiwiSaver · an employee who doesn’t need to be automatically enrolled and has chosen not to opt-in Note: not to be used for employees who fall into the categories for Exempt (Casual/Temp) or Exempt (Under 18). | |
Exempt (Casual/Temp) | · a casual employee who has chosen not to opt-in · a temporary employee employed for 28 days or less who isn’t required to be automatically enrolled and has chosen not to opt-in Note: not to be used for casual agricultural workers (tax code CAE). | |
Exempt (Under 18) | · an employee exempt from KiwiSaver because they are aged under 18 | |
Existing Member | · an employee who is already a KiwiSaver member | |
Opt In (Automatic Enrolment) | · a new employee required to be automatically enrolled · a temporary employee who is automatically enrolled after 28 days (i.e. changing from option Exempt (Casual/Temp)) · a casual agricultural employee (tax code CAE) who is automatically enrolled after three months Note: not to be used for anyone who opts in voluntarily, use Opt In (Voluntary Enrolment) instead. | https://www.ird.govt.nz/kiwisaver/kiwisaver-employers/starting-employees-in-kiwisaver/auto-enrol-employees-into-kiwisaver |
Opt In (Voluntary Enrolment) | · a new or existing employee aged 65 years or older and who chooses to opt in · a new or existing casual employee who chooses to opt in · a temporary employee who chooses to opt in within 28 days of starting their employment | |
Opt Out | · an employee who is automatically enrolled, and who has chosen to opt out (employees cannot opt out within two weeks of their start date) | https://www.ird.govt.nz/kiwisaver/kiwisaver-employers/employees-who-want-to-opt-out-of-kiwisaver |
Opt Out (Over 65) | · an existing employee who is aged 65 years or older who belonged to KiwiSaver and has now chosen to opt out |
Opting Out
If an employee is automatically enrolled in KiwiSaver when they start their new job, they can opt out between two to eight weeks of starting work (i.e. between day 14 and day 56).
https://www.ird.govt.nz/kiwisaver/kiwisaver-employers/employees-who-want-to-opt-out-of-kiwisaver
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