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...... As of April 1, 2008, the employer of a KiwiSaver member is required by law to make contributions into the members account. The first year, the employer is required to put 1% of a members earnings into the KiwiSaver account; each year after that, the members employer is required to increase the contribution by 1% until the maximum of 4% of a members earnings is being put into the members account. To help out with those contributions, the Government will give employers of members up to $20 a week to help them meet the cost of making contributions.
After three years of making contributions to ones account, a member may withdraw from the KiwiSaver account to buy a home if it is a first home purchase. This scenario becomes a bit complicated as far as withdrawing for a home purchase; for example, if the KiwiSaver member has already purchased a home in the past, he or she may withdraw KiwiSaver funds but not the original $1,000 that the Government placed into the account at the outset
KiwiSaver is clearly becoming a successful social democracy-themed program; indeed, as of 31 May 2008, membership in KiwiSaver reached 673,942. Finance Minister

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