Congratulations – you’ve received your Resident Visa and now call New Zealand home! You’ve tackled mountains of documents, moved your life across borders, and are building a future in a new country.

As well as having the best scenery the world can offer in your backyard, you now also have access to new financial opportunities – including one you might have already heard about: KiwiSaver. If you’re wondering what all the fuss is about, here’s what you need to know.

What is KiwiSaver, and how does it help grow your savings?
If you’ve come from a country with workplace retirement schemes or national pension systems, KiwiSaver may feel familiar. It’s a voluntary retirement savings initiative designed to help you grow your future funds over time. When you reach the current New Zealand retirement age of 65, it’s there to complement NZ Superannuation – giving you more financial freedom in retirement.

You can contribute to KiwiSaver in a couple of ways. If you’re employed, your contributions come straight out of your wages or salary . You can choose to contribute 3%, 4%, 6%, 8%, or 10% of your salary or wages and your employer will also contribute at least 3% to help grow your savings even more.

If you’re self-employed or just want to top up your KiwiSaver account, you can voluntarily contribute any amount you want, at any time.

On top of that, the government adds a little boost too. For every $1 you contribute (up to $1,042.86 a year), the government will match it with 25 cents – up to a maximum of $260.72 a year (eligibility criteria apply ).

Why not just save in a regular bank account?
Great question! You could just have a savings account – which is good for keeping money aside for short-term needs like emergencies or a holiday – but you’d be missing out on some serious benefits.

What you don’t get with a regular savings account, but you do get with KiwiSaver:

• A government contribution of up to $260.72 per year (if you meet certain criteria )
• Employer contributions of at least 3% of your salary or wages (if you’re employed)
• Investment-based growth, meaning your money isn’t just saved – it’s working for you

It’s also worth noting that from 1 April 2026, minimum employee and employer contributions will increase to 3.5%, and then again to 4% from 1 April 2028 (again, if you meet certain criteria). That’s a good thing, because higher contributions mean your KiwiSaver will be working even harder for you over time!

Before we get too excited, it’s important to know that investing involves risk, and because your KiwiSaver account is an investment, its balance can go up and down based on market conditions. But over the long term, your KiwiSaver account can outperform traditional savings accounts – especially when combined with employer and government top-ups.

Planning to move again? Your money stays yours
Not sure if New Zealand will be your forever home? No problem – joining KiwiSaver is still worth considering. Even if you decide to move countries again, the contributions you made to your KiwiSaver account belong to you.

If you relocate permanently to Australia, you can transfer your KiwiSaver savings to an Australian superannuation scheme.

If you emigrate to another country, you can withdraw most of your KiwiSaver savings after 12 months overseas. At that point, you can withdraw your contributions, your employer’s contributions, and the interest you’ve earned, but you can’t take out any government contributions.

Conditions apply to all the above, so it pays to talk to an expert before joining KiwiSaver – especially if there’s a chance you might need to permanently leave New Zealand.

A new chapter, a smarter start
Settling in a new country is no small feat, and you should be extremely proud of yourself for taking that step! Now that you’re here, you may want to make the most of the financial opportunities that come with living in New Zealand, including joining KiwiSaver.

If you’re making regular contributions, a KiwiSaver account will quietly and consistently work in the background, helping you build a more secure future .

At Milford, we work with thousands of KiwiSaver members, including many who are new to New Zealand. If you have questions about joining KiwiSaver, selecting the right fund, or understanding your options – we’re just a phone call or email away.

Want more investment insights? Check out Milford’s The Investing Place for exclusive masterclass content, news, and opinion pieces.