Who can Participate in KiwiSaver?
Employee contributions will continue to be voluntary. Mmost new employees are automatically enrolled in KiwiSaver, but can choose to opt out. Existing employees will be able to opt in. New employees whose employer is exempt from automatic enrolment will also be able to opt in.
You can join KiwiSaver as well as be a member of another superannuation scheme. However, you can only get the member tax credit once (up to the cap) on contributions made to a KiwiSaver scheme or a 'complying' superannuation fund (i.e., a superannuation fund that has a section with KiwiSaver-like terms and conditions. If you contribute to more than one scheme your tax credit contributions will be split across those schemes). If your employer is contributing to your current superannuation scheme, then these contributions may count towards the proposed compulsory employer matching contributions, in which case they may not be required (based on the current proposal) to make matching contributions to your KiwiSaver scheme as well, if various criteria are met.