Most New Zealanders are eligible to join KiwiSaver – including those who are already in a super scheme like the PSS. This page answers questions we’re often asked by members about KiwiSaver. Visit the KiwiSaver section of Inland Revenue's website or talk to a KiwiSaver provider to find out more.
Information for recruits
Membership of the PSS is compulsory for recruits. The information here explains how this impacts KiwiSaver membership.
If I'm not in KiwiSaver, will I be enrolled in it when I join Police?
No. Police has an exemption from automatic enrolment.
I'm already a KiwiSaver member and want to continue contributions. What do I need to do?
You’ll need to fill out a KiwiSaver deduction form (KS2) and give it to Payroll.
Contributions will be deducted from your pay at the rate you choose on the form (3%, 4%, 6%, 8% or 10%). Police won’t match those contributions because you are already getting employer contributions to your savings in the PSS, but you will continue to receive the government’s contribution of $521.43 a year if you contribute $1,042.86 a year or more. Government contributions are not made from age 65.
I'm already a KiwiSaver member and don't want to continue contributions. What do I need to do?
If you’ve been in KiwiSaver for 1 year or more, you can suspend contributions by applying for a savings suspension (Inland Revenue may consider an early savings suspension if you’re experiencing or likely to experience financial hardship). You can apply for a savings suspension for between 3 and 12 months. At the end of that time, you can apply for another savings suspension, effectively suspending your contributions indefinitely.
You can apply for a savings suspension online by logging into MyIR. Find out more here. Inland Revenue will send you a savings suspension notice. You’ll need to give Payroll a copy of this before Police can stop deducting KiwiSaver contributions from your pay.
Police has exemption status from KiwiSaver. This means that no KiwiSaver employer contributions will be made for constabulary members.
Can I still get government contributions while on a savings suspension?
Yes. You need to make a lump-sum payment of $1,042.86 before 30 June each year to get the full government contribution. You can make the payment through MyIR or to your KiwiSaver provider.
Can I transfer my KiwiSaver to PSS?
No. You can’t transfer your savings into the PSS because our scheme operates under different rules.You generally won’t be able to withdraw any savings you have in KiwiSaver until you become eligible under the KiwiSaver rules (usually when you reach age 65).
Information for other PSS members
Can I join KiwiSaver in addition to my PSS membership?
Yes. Being a member of the PSS (and receiving the employer contribution) doesn’t stop you joining KiwiSaver. You won’t, however, be eligible for KiwiSaver employer contributions because you are already getting employer contributions to your savings in the PSS. This applies both to constabulary and non-constabulary members. You will get the other KiwiSaver benefits explained below.
What are the benefits of KiwiSaver?
Like the PSS, the benefit you get is made up of contributions plus (or minus) earnings minus fees. Unlike the PSS, you generally can’t access your money until you reach age 65. If you joined KiwiSaver before 1 July 2019, you also need to have completed 5 or more years’ membership of a KiwiSaver scheme or complying superannuation fund. However, you can choose to opt out of this provision.
Police won’t contribute to your KiwiSaver account as you’re already getting employer contributions, but you will qualify for government contributions. The government will contribute around $10 a week for every $20 you contribute up to $521.43 a year. That means, to receive the maximum government contribution, you need to contribute at least $1,042.86 a year. Government contributions are not made from age 65.
What will I have to pay into KiwiSaver?
You’ll need to pay a minimum of 3% of your gross salary or wages. Alternatively, you can choose to contribute 4%, 6%, 8% or 10%. Talk to your Payroll Officer if you have questions about contributions.
How do I join?
Financial advice from Mercer
PSS has engaged Mercer to provide a financial advice service to members. You can receive advice about anything to do with your savings in the scheme, including what to do with your KiwiSaver now you're in PSS. There is no individual charge to you for this service. To arrange a time to talk, sign in to your account online and complete a call-back request form.