Your super is often the money you rely upon during your retirement. Therefore, if you feel that you have enough funds for day to day life, you may want to grow your super. There are many ways to do this:
- Employee contributions: Contribute to your super through your pay, or discuss with a scheme provider
- Employer contributions: If you contribute to KiwiSaver then your employer must also do so.
- Getting the KiwiSaver government contributions: The maximum amount the government will contribute is $521.43. However, to receive this you must contribute at least $1042.86 between 1 July and 30 June each year.
- Make payments directly to the KiwiSaver account: You can always make voluntary contributions directly to the KiwiSaver at any time.
- The contributions made to the KiwiSaver are used to invest in investments of differing risk. These investments depend on what type of fund you choose and thus the growth of your fund.