KiwiSaver for Kids

17 April, 2023

1 Minute Read

The best time to start saving for retirement isn’t when you’re old, it’s when you’re young.

The earlier you start saving, the better off you’ll be. 

There’s a reason why Albert Einstein described compound interest as the Eighth Wonder of the World.

KiwiSaver isn’t just for retirement. It can also be used for a deposit on a first home, which is why many parents choose to enrol their children. It also makes a great gift from grandparents or family members who want to help build up those nest eggs.

Find out everything you need to know on MoneyHub’s Definitive Guide to Kids and KiwiSaver, which was originally sponsored by Pathfinder.

To help give our Tamariki a hand, we don't charge the annual membership fee of $27 p.a. for minors. So, if you’re under 18, regardless of your account balance, we won't charge you a membership fee. We also don't charge a membership fee for anyone with a balance under $1,000.

Opening a child’s KiwiSaver account takes only a few minutes, but you will need an IRD number for them - more on how to apply for that here.

If you’re under 16, you will need the consent of all your legal guardians, so have a chat with them to get your KiwiSaver account set up.

If you need help with any of this, please contact our customer service team.

Read more on Compounding Returns and why it helps if you start early.