KiwiSaver Act 2006

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Reprint as at 10 September 2008

KiwiSaver Act 2006

Public Act2006 No 40
Date of assent6 September 2006
Commencementsee section 2

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

The KiwiSaver Act 2006 is administered by the Inland Revenue Department and the Ministry of Economic Development.


Contents

Automatic enrolment rules

Notice requirements for people who start new employment

Exempt employers

Opting in

Information about people who contract directly with providers

Information about overall KiwiSaver scheme that must be provided

People may choose their own KiwiSaver scheme

Employer choice of KiwiSaver scheme

Default KiwiSaver schemes

Miscellaneous provisions

Voluntary transfers

Involuntary transfers

Payments of salary or wages to which deduction rules apply

Deduction rules

Inland Revenue KiwiSaver Holding Account

Interest on contributions

Complying superannuation funds

Applications for contributions holiday

End of contributions holiday

Revocation and reinstatement of contributions holiday

Application of Superannuation Schemes Act 1989 to KiwiSaver scheme

Other implied provisions

Amending trust deed in relation to KiwiSaver scheme

Application to register new scheme as KiwiSaver scheme

Conversion of registered superannuation scheme

Establishment of KiwiSaver scheme under umbrella trust that also governs registered superannuation scheme

Cancellation of registration and winding up of KiwiSaver schemes

Winding up

Interface with securities law

Disputes under Parts 2 and 3

Penalties

Giving of notices

Miscellaneous provisions

Reprint notes