Superannuation for principals and teachers
Find out about superannuation payments to KiwiSaver for principals and teachers.
Your employer’s contribution to your superannuation is currently 3 per cent of your gross earnings, and you can choose to contribute an additional 3 per cent, 4 per cent or 8 per cent of your pay.
You may already belong to a superannuation scheme that’s closed to new members, such as the:
- Teachers' Retirement Savings Scheme and the State Sector Retirement Savings Scheme, each with an employer contribution of up to 3 per cent of your gross salary.
- Government Superannuation Fund, which has an employer contribution of 6.5 per cent or 7 per cent of your gross salary.
- National Provident Fund, which has an employer contribution of up to 3 per cent of your gross salary.
If you belong to one of the old schemes and KiwiSaver, employer contributions can only be paid to KiwiSaver if the amount paid into the other scheme is less than the KiwiSaver contribution of 3 per cent. So, if your employer’s contribution to your other fund is 4 per cent you won’t get any payment into KiwiSaver as well. However, if the employer contribution to your other fund is only 2 per cent, you’ll also get 1 per cent paid into your KiwiSaver scheme.
For further information
For more information about superannuation visit the New Zealand Government's KiwiSaver website.
Or for information about other superannuation schemes visit the State Services Commission website.
If you have any questions, contact your provider directly.
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