MMS #20 | KiwiSaver Government Contributions: FREE money you shouldn't ignore
Description
In this episode of Money Made Simple, Liv is joined by Simplicity's Deputy Head of Investor Services Emma Ryan to get the goss on why getting KiwiSaver government contributions is SUCH a no-brainer. (Caveat - that's if you're eligible!). This episode covers:
- A quick explainer on the three main types of KiwiSaver contributions and how they all work together
- How the KiwiSaver year works (and why it's relevant to getting your govt contributions!)
- The three main eligibility criteria you need to meet in order to qualify for receiving government contributions each year (side note - your eligibility could change!)
- The impact of government contributions over your working lifetime - you could be more than $90k richer (and that's not taking into account the personal contributions that you'll make alongside!)
- How government contributions work if you're partially eligible, or contribute less than the amount needed to get the maximum yearly amount
- How to check - and rectify! - whether you've contributed enough each year to get the government contribution
Resources we mention in this episode:
- sorted.org
- IRD website KiwiSaver information (and MyIR)
By the end of this episode you'll be a total pro when it comes to government contributions - and you'll know how to make sure you get the best out of this priceless opportunity to get a 50% return on your KiwiSaver contributions (well, up to that first $1043 at least!).
---
Please help us share the good word (and make Kiwis richer and smarter with money) - the more we grow, the more good we can do %) Don't forget to follow, subscribe and rate the podcast if you found it useful!
Find us:
Instagram
Facebook
LinkedIn
Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.