Combining kids and KiwiSaver. Every New Zealander under 65 will benefit from joining KiwiSaver, including newborns. But the rules — and how to make the most of them — are different for children, and many readers have questions about that. Here are a couple…
Q&As: Should a couple with 3 children move to a bigger house in town or take a bet on a coastal property?; Are KiwiSaver bond funds as conservative as they seem?
Q&As: Join KiwiSaver even if you are already in another super scheme — but no double dipping!; Can an employee get around the 4 per cent minimum contribution to KiwiSaver?; Is KiwiSaver for government employees too good to be true?; Choosing between KiwiSaver and another work scheme.
Ins and Outs of KiwiSaver tax credit. Judging by readers’ questions, confusion reigns about the government’s KiwiSaver tax credits, which match members’ contributions up to $20 a week or $1042.86 a year. The tax credits are paid to every contributing KiwiSaver member 18 and over until they reach NZ Super age (currently 65) or five years after joining, whichever is later. For example, if you join at age 63, you will continue to get the credits until five years later, when you are 68.
Q&As: How the typical KiwiSaver investment fund differs from a finance company; Would it work for the government to sign a contract that it wouldn’t change KiwiSaver over the years? Also: More winning entries for the KiwiSaver book.
Q&As: Following last week’s first Q&A, a reader suggests another way to bring overseas money to New Zealand; Who’s right, Gareth or me, on tax credit start dates?; We find eight providers who will accept one-off payments into KiwiSaver. Also: More winners of books.
KiwiSaver bringing out the best in many. One aspect of KiwiSaver that I’m enjoying is the way people are helping one another understand it. This came through in several entries to our giveaway of my book “KiwiSaver: How to make it work for you.” Entrants had to say in 40 words or less why they should win one of 30 copies of the book. Some wanted it book to help their children, some their parents and some their workmates.
Q&As: Man lives in NZ but his savings are in the US. When should he bring the money here, in light of the dollar’s fluctuations?; 3 Q&As on when the KiwiSaver tax credit begins — depending on when you join and/or start making contributions. Also: More winners in our giveaway of “KiwiSaver: How to make it work for you”.
Q&As: KiwiSaver is just right for 30-year-old son having difficulty saving for his first home; Why sign up a one-year-old for KiwiSaver? Also: Some winning entries in the “KiwiSaver: How to make it work for you” giveaway.
Misunderstandings about KiwiSaver abound. Predictably, given that KiwiSaver is new, complex and not yet fully formed, there are many misunderstandings about it.