Examples of using the SuperEasy KiwiSaver Scheme

1. Roger is 50, single and works full time. He wishes to put 8% of his gross salary away and lock it in until age 65 with additional tax advantages to maximise his savings.
2. Sarah is 30, single and works full time. Her employer will subsidise a superannuation scheme of her choice, dollar for dollar up to 4% of her gross salary. Sarah has decided to take a KiwiSaver scheme and contribute the maximum of 8% gross salary. She will do this by contributing 4% of her gross salary and thereby receiving 4% from her employer; thus achieving the full tax exemptions on her employer contributions going into KiwiSaver.
3. Mary and Peter are in their mid-twenties, are interested in starting a savings scheme and possibly buying a house in the future. They have each opened a KiwiSaver scheme with each paying in 4% of their gross salary. This will increase by 1% each year commencing from 1 April 2008 with the compulsory matching employers contributions being introduced at this time. This also allows them the opportunity after three years to withdraw and use their savings as well as applying for the subsidy from the Housing Corporation as a deposit on their first home.
4. Chris is 35 and is now settled in his career and is wishing to save up a deposit and buy a house before he reaches 40. He has opened a KiwiSaver scheme and is contributing 8% of his gross salary via salary sacrifice (4% employee contribution with 4% employer contribution) therefore enjoying the maximum tax exemption on the employer contribution which results in maximising his savings. This means that when Chris turns 38 he will be entitled to withdraw all of his savings (excluding the Crown kick-start contribution of $1000 and any annual tax credits received from the IRD) to use as a deposit on his first home. He will also be entitled to apply for the subsidy from the Housing Corporation.

Examples of using SuperEasy and the SuperEasy KiwiSaver Scheme

1. Susan is 45 and in full time employment and wishes to contribute 12% of her gross salary towards her superannuation savings. She is going to contribute 8% into a KiwiSaver scheme via salary sacrifice (4% employee contribution with 4% employer contribution) and with the remaining 4% going into SuperEasy. As SuperEasy only locks in her savings until she leaves her employer any additional lump sum payments she makes will go into SuperEasy.
2. Craig is 29 and wishes to contribute 4% into a KiwiSaver scheme knowing that this will increase by 1% each year commencing from 1 April 2008 with the compulsory matching employers contributions being introduced at this time. He has just inherited some funds and wishes to make a lump sum of $24,000 into his superannuation savings but does not wish to unnecessarily lock this amount away until age 65. Even though he is not making any regular contributions to SuperEasy he can still make lump sum payments into this section of the scheme.
3. Claire is 51 and wishes to pay 8% of her gross salary towards her superannuation savings. For personal reasons she is happy to lock some, but not all of this away until age 65. She has decided to pay 4% into the SuperEasy KiwiSaver Scheme and 4% into SuperEasy. Claire is also aware her employer will start making additional contributions into the SuperEasy KiwiSaver Scheme from 1 April 2008. This allows her flexibility with accessing some of her funds, all managed under the one superannuation scheme.
4. George is 55 and is contributing 15% of his gross salary into superannuation. He is going to contribute 8% into a KiwiSaver scheme via salary sacrifice (4% employee contribution with 4% employer contribution) and with the remaining 7% going into SuperEasy all via salary sacrifice.

Examples of using SuperEasy

1. Frank is 42 and working full time and wishes to pay 10% of his gross salary towards his superannuation savings. He wishes to maximise his tax advantage but does not want to lock up his savings until age 65. He has decided to pay all 10% into SuperEasy by salary sacrifice.
2. Margaret is in her mid twenties and wishes to start a long term savings scheme but is unsure at this stage whether to lock all of this away until age 65. She has decided to contribute 6% of her gross salary into SuperEasy At Work. If she decides to change this in the future she has the option of redirecting 4% towards the SuperEasy KiwiSaver Scheme whilst maintaining 2% into her existing SuperEasy At Work.
3. Richard is in his mid twenties and is keen to start a long term saving plan, but at this stage is unable to save 4% of his salary. He has decided to start paying 2% into SuperEasy At Work with the intention of increasing this at a later date, giving him the option of continuing in SuperEasy At Work or moving across to the SuperEasy KiwiSaver Scheme or doing both.

Examples of using SuperEasy At Work and Locked-In SuperEasy

1. Linda is in her early forties, owns her own home, and wishes to pay 11% of her gross salary towards her retirement savings. She wishes to make use of the tax exemptions and credits offered by KiwiSaver but wishes to do this all under one deduction from her pay paid directly to Civic. She can do this by paying 8% into Locked-In SuperEasy via salary sacrifice (4% employee contribution with 4% employer contribution) and with the remaining 3% going into SuperEasy At Work.
2. Joe is 39 and wishes to pay 6% of his gross salary towards his retirement savings. He is happy to lock most of this away until age 65 but would like the option of having access to some at an earlier age if he stopped work for any reason before then. He would also like to receive the tax advantages offered by KiwiSaver all by one deduction from his pay paid directly to Civic. He has decided to pay 4% into Locked-In SuperEasy and 2% into SuperEasy At Work. This will provide Joe with the flexibility he was seeking, gain the tax advantages he was after, and he will start to receive the additional contributions his employer will make into Locked-In SuperEasy from 1 April 2008.