Kiwisaver contributions holiday (New Zealand)

KiwiSaver is part of a government initiative designed to increase the level of savings by New Zealand households and to support New Zealanders in their retirement.

A Contributions Holiday is for employees who wish to take a break from making KiwiSaver contributions from their pay.

Employees can apply to take a Contributions Holiday if they have been a member for 12 months or more or an Early Contributions Holiday if they have been a member for less than 12 months. This must be applied for by the employee.

Applying the Contributions Holiday in the Software should only be done after receiving the appropriate notification directly from IRD.

Once the notification has been received from IRD, the Contributions Holiday should be applied as follows.

To apply the contributions holiday

Open the employee record
Click on the Standard Pay tab
Click on the KiwiSaver button
Tick the box for 'Contribution Holiday'
Enter the date for when the contribution is to resume.
Save from the KiwiSaver screen then save from Employee Maintenance.
When a 'Resume' date is entered, the Kiwisaver contributions will automatically restart once that date has been reached. If the Contribution Holiday date is to be altered, this should only be done after receiving notification from IRD.

Need more help? You can open the online help by pressing F1 on your keyboard while in your software.

You can also find more help resources on the MYOB Exo Employer Services Education Centre for Australia or New Zealand.