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KiwiSaver Act 2006 tells us the purpose of the Act is '... to encourage a long-term savings habit and asset accumulation by individuals who are not in a position to enjoy standards of living in retirement similar to those in pre-retirement. The Act aims to increase individuals' well-being and financial independence, particularly in retirement, and to provide retirement benefits.' Although individuals can contribute directly to the KiwiSaver scheme, the Act facilitates the habit of saving for the future, through the provision of a workplace pension scheme, utilising the automatic enrolment principle.

Criteria for joining the KiwiSaver scheme, applies to individuals who are:

1. Ìý

   •ÌýÌýÌýÌý resident or normally resident in New Zealand

2. Ìý

   •ÌýÌýÌýÌý New Zealand citizens or entitled to be in New Zealand indefinitely

3. Ìý

   •ÌýÌýÌýÌý Australian citizens, or

4. Ìý

   •ÌýÌýÌýÌý holding a New Zealand or Australian residence permit

Specifically excluded are those who hold temporary