You’re probably busy chasing clients, sorting invoices, and keeping your business running.
Retirement planning? Yeah, it often gets thrown in the “later” pile.
But here’s the deal: KiwiSaver can seriously boost your future savings — if you know how to use it when you’re your own boss.
Let’s walk through it together.
Understanding KiwiSaver for self-employed individuals
KiwiSaver is New Zealand’s way of helping people build a retirement fund.
If you’re an employee, it’s easy — your boss takes care of the contributions straight from your paycheck.
When you’re self-employed? It’s on you.
Whether you’re freelancing, contracting, or running your own show, you have to set up your own KiwiSaver contributions.
You get to decide how much and how often you put money in — which is great if your income goes up and down.
The goal is simple: grow a decent nest egg so you’re not stuck living on just the basic government Super later.
Because trust me, Super alone… isn’t much more than the bare essentials.
One important thing:
👉 No boss = no employer contributions.
👉 But you still get the government contribution if you play your cards right (more on that below).
Quick tip:
- If you’re young or planning to work for a while? A growth fund could be your friend — higher risk but better long-term returns.
- Closer to retirement? You might want a conservative fund to protect what you’ve built.
Key benefits and contribution strategies
Here’s the good news: KiwiSaver still gives you free money even when you’re self-employed.
If you put in at least $1,042.86 a year (around $87/month), the government throws in $521.43.
That’s a 50% return — no other investment gives you that instantly.
Setting it up is easy:
- Set up an automatic payment through your online banking
- Or just chuck in lump sums when cash flow’s good.
The trick? Consistency. You don’t want to miss that government bonus.
Main perks for self-employed people:
- 💰 Government contribution: $521.43/year (if you contribute enough)
- 🏠 First-home buyer option: you might be able to withdraw it early
- 📈 Professional fund managers (with lower fees than DIY investing)
- 📊 Flexibility: contribute more when business is booming, less when it’s tight
Accounting tip:
When you make a KiwiSaver contribution, it’s a personal expense, not a business one like.
Record it properly — it’ll save you headaches later.
Bonus move:
If you’ve got a partner?
👉 Make sure both of you are putting in the minimum.
👉 That way you double up on the government freebies.
Withdrawal options and provider selection
When can you actually touch your money?
Usually, when you turn 65. But there are a few situations where you can get it earlier:
- Buying your first home
- Facing serious financial hardship
- Serious illness
- Moving overseas for good
- Having a life-shortening condition
Choosing the right provider also makes a difference.
Here’s a quick snapshot:
| Provider | Fund Type | Best For |
|---|---|---|
| ANZ KiwiSaver | Growth, Balanced | Solid long-term performance |
| Simplicity | All types | Low fees, simple setup |
| Fisher Funds | Growth | Actively managed funds |
| Westpac KiwiSaver | Conservative, Balanced | Safer, lower-risk options |
| ASB KiwiSaver | Growth, Conservative | Great online tools, easy access |
Pro tip:
If you don’t choose a provider, you’ll be shoved into a “default” one.
It’s much smarter to pick one that actually suits your goals and risk comfort.
Managing KiwiSaver when your employment status changes
Self-employment isn’t always forever.
One year you’re freelancing… the next you’re back on a company payroll.
Here’s how KiwiSaver works through those shifts:
👉 If you become an employee:
- Tell your boss you’re already in KiwiSaver.
- Contributions will start coming straight out of your pay.
- You’ll also score employer contributions (at least 3% of your salary). Nice bonus.
You can pick how much you contribute: 3%, 4%, 6%, 8%, or 10% of your pre-tax pay.
And you can adjust it later if needed.
👉 If you go back to self-employment:
- Your boss contributions stop.
- You have to manually keep contributing if you want the government bonus.
Running a business and hiring people?
- If you hire employees, you’re responsible for contributing to their KiwiSaver (minimum 3%). Make sure you keep in touch with the latest changes as well.
- If you’re just working with contractors or freelancers? No KiwiSaver obligations for them.
Bottom line?
If you’re self-employed and not tapping into KiwiSaver properly, you’re leaving free money on the table.
A few simple moves now could make a huge difference to your future.
Disclaimer
This article is for information only—not legal, financial, or tax advice. Every business is different, and rules change, so don’t make major decisions based on what you read here. If you’re unsure, talk to a professional—it’s cheaper than fixing a costly mistake later.