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Budget changes to the KiwiSaver Scheme
The Government delivered its annual Budget on 21 May 2015. The Budget contained an important change to the KiwiSaver scheme. With immediate effect the $1,000.00 ‘kick-start’ payment for all new enrollees in the scheme was halted.
If you are already part of the scheme however, the $1,000.00 will not be clawed-back. Contributing KiwiSaver members will also continue to receive their annual member tax credit from the Government.