• Pass on to your employees cost savings such as cheaper fees and related benefits, including group life insurance (depending on the size of your company).
• Present it as a positive employment benefit to your employees, thereby assisting your staff attraction and retention strategies.
• Provide your employees with tools to help with their KiwiSaver decisions (to ensure they are appropriate to their retirement savings needs).
• Access a wide range of information, materials and tools to help you and your staff understand what KiwiSaver means and to help you decide what steps to take next.
• Receive assistance and support with the administration of KiwiSaver.

Our SIL KiwiSaver Scheme is a simple yet effective way for your employees to save for their retirement

With 12 different funds ranging in risk from low to high, there are a variety of investment options to suit the different situations, stages of life and financial goals of your staff.

We also offer a Lifetimes option to simplify investing for your employees. Under this option, members are automatically transitioned through funds with different risk/return profiles, according to their age.

Your obligations as an employer

Remember, as an employer, you are legally bound to:

• Provide all new employees (and existing employees who opt in to KiwiSaver) with a KiwiSaver information pack – supplied by Inland Revenue – within seven days of joining.
• Provide the details of new employees to Inland Revenue. Other employees may opt in by giving you a KiwiSaver deduction notice – the details of these employees are also required.
• Generally, you must contribute a minimum of 1% of each employee’s gross salary/wages to their KiwiSaver scheme from 1 April 2008, rising to 4% in 2011. *
• Make deductions of employees’ KiwiSaver contributions from their gross salary or wages and forward these (together with your own contributions, if any) to Inland Revenue, via PAYE.
• Accept and forward any employee ‘opt out’ notifications to Inland Revenue.
• Refund contributions, which have been deducted but not yet forwarded to Inland Revenue, to any employee who opts out. (Temporary staff on contracts of 28 days or less are not required to be enrolled.)

* From 1 April 2008, the Government reimburses employers for their contributions to KiwiSaver (or a complying superannuation fund) by providing a matching tax credit up to a maximum of $20 per week (approximately $1,040 per year) per employee.

We know there's a lot of information on KiwiSaver to absorb. So why not call us today on 0800 108 685? Our Client Services team will be happy to take you through the process, step by step.

If you'd like further details on our SIL KiwiSaver Scheme right now, click here to download the Investment Statement.

ING (NZ) Limited (INGNZ) is the administration and investment manager and promoter of the SIL KiwiSaver Scheme and the ING KiwiSaver Superannuation Scheme (the Schemes). The trustee and issuer of the SIL KiwiSaver Scheme is Superannuation Investments Limited (SIL) and the trustee and issuer of the ING KiwiSaver Superannuation Scheme is The New Zealand Guardian Trust Company Limited (NZGT). None of INGNZ, SIL, NZGT, any of their related companies, their directors, the Crown or any other person guarantees the Schemes, any investment in the Schemes, or any returns on an investment in the Schemes. The information contained on this website is general in nature and does not constitute financial advice. It may not be relevant to individual circumstances. Before making any investment decisions, you should consult a professional adviser. For further information about the SIL KiwiSaver Scheme please refer to the SIL KiwiSaver Scheme Investment Statement or call toll free on 0800 108 685 for a copy of the prospectus. For further information about the ING KiwiSaver Superannuation Scheme, please refer to the ING KiwiSaver Superannuation Scheme Investment Statement or call toll free on 0800 108 685.