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
Removing the lock in period, which currently affects members who join between the ages of 60 and 65. Applies from 1 July 2019. The other four bullet points apply from 1 April 2019. The lock in period is to be removed because the kickstart $1000 contribution has gone. Those who have joined KiwiSaver over the age of 60, will remain locked in.