Kids and KiwiSaver

2 MIN READ May 4, 2022
When you think of KiwiSaver, you often relate it to buying a first home or saving for retirement. But what about kids and KiwiSaver? There are so many reasons why KiwiSaver should be explored for children, including helping to grow their wealth and teaching them…

How do I sign my child up?

You’ll need to set them up with an IRD number, you can do this through their website. If your child is under 16, both parents or guardians will need to sign the application form on their behalf. If your child is 16 or 17, they must sign the form alongside their parents or guardians.

What happens if my child starts working?

If your child is under 18 and in paid employment, they can’t join KiwiSaver through their employer, only through a KiwiSaver provider. They’ll need to start making contributions at a minimum of 3% if they get a part-time job, however, you can apply for a savings suspension, for a period between 3-12 months.

Will my child get contributions from the Government or their employer?

If your child is working, their employer isn’t required to contribute to their account until they turn 18, although some may choose to. Government contributions of up to $521.43 a year are available once they turn 18 if they are eligible.

What fees will their account have?

This depends entirely on what provider they are with and what kind of fund they are in. It’s beneficial to do some research on what the providers have available as some of them offer fees-free KiwiSaver accounts for those under 18. Make sure you pick a fund where the fees won’t eat away at their savings.

Can we change their fund later on?

Most definitely! There are a number of different types of funds and providers available to suit each individual. What works for your child now may not work for their goals later down the road. A Haven adviser can provide you with the information you need to decide.

Our advisers are able to provide you with generalised KiwiSaver advice to help you decide what is best for your child’s financial future. If you have any other questions, don’t hesitate to get in touch with our team.


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