Join or transfer to the BNZ KiwiSaver Scheme

If you’re joining KiwiSaver for the first time, you need to be under 65 years old, a New Zealand citizen or permanent resident and living in New Zealand (unless you qualify on another basis). You can transfer to the BNZ KiwiSaver Scheme at any age.

How to join

Existing BNZ customers

There are three ways to join the BNZ KiwiSaver Scheme.

  1. Log in to Internet Banking and select Apply Now, then choose BNZ KiwiSaver Scheme. You’ll need to have your NetGuard card ready.  We’ll be able to set up your KiwiSaver account straight away. 
  2. Complete our online application form (provided you are 18 years old and over). It should only take a few minutes.
  3. Visit one of our branches and we’ll take you through the process and make the transfer for you.

If you’d like personalised advice, call us and we’ll put you in touch with one of BNZ’s Wealth Advisers.

Download and print the BNZ KiwiSaver Scheme Product Disclosure StatementPDF 1.3MB

New to BNZ

Complete our online application form (provided you are 18 years old and over). It should only take a few minutes. 

Visit one of our branches and we’ll take you through the application process and answer any questions you may have. You’ll need to bring along proof of identity documents to complete your application.

To get started, you can download and print out the BNZ KiwiSaver Scheme Product Disclosure StatementPDF 1.3MB

Joining if you’re under 18

If the person enrolling is aged 15 or under, both parents or legal guardians, will need to sign the application form.

If you are aged 16 or 17, you and one of your parents or legal guardians, will need to sign the application form (unless you are married, in a civil union or a de facto relationship, in which case only you must sign).

How to apply

  1. Complete the application form at the end of the BNZ KiwiSaver Scheme Product Disclosure Statement PDF 870KB
  2. Take the completed application form to your nearest BNZ branch together with your identification requirements for the person applying and the parents/guardians.

If you’re automatically enrolled 

If you start a new job with a new employer, your employer will enrol you in KiwiSaver unless they are exempt from doing so. If you don’t opt out of KiwiSaver all together, or if you don’t choose a KiwiSaver scheme, you’ll be allocated to your employer’s chosen scheme (if they have one) or one of the nine Government-appointed default KiwiSaver schemes. The BNZ KiwiSaver Scheme is one of the default KiwiSaver schemes. 

How your KiwiSaver account can work for you

  • Choose a fund that you’d like your KiwiSaver savings invested into. If you don’t make a choice, your contributions will be automatically invested in the Conservative Fund.
  • Advise your employer of your Prescribed Investor Rate (PIR), which we’ll use to pay tax on your share of the BNZ KiwiSaver Scheme’s taxable income. Use the Work out my PIR tool to help you with this. If you don’t choose a PIR, we’ll apply the highest PIR, which is currently 28%.

Transferring from another KiwiSaver scheme

We take care of transferring your savings from another KiwiSaver scheme as part of your application to join the BNZ KiwiSaver Scheme.

NOTE: It can take up to 8 weeks for your KiwiSaver savings to be transferred to us from another KiwiSaver scheme.

What to do before you transfer

  1. Make sure you consider any differences in the product terms, fees and investment style when deciding whether to transfer your KiwiSaver savings to the BNZ KiwiSaver Scheme, including the risks, benefits and options available to you.

  2.  Choose a fund into which your KiwiSaver savings will be invested. You have a choice of six different funds and you need to choose one that’s right for you.  If you don’t make a choice, your contributions will be automatically invested in the Conservative Fund. It’s easy to do using our fund finder tool.

  3. Select a Prescribed Investor Rate (PIR), which we’ll use to pay tax on your share of the BNZ KiwiSaver Scheme’s taxable income. Selecting the correct rate will ensure we pay the right amount of tax for you. Use the Work out my PIR tool  to help you with this. If you don’t choose a PIR, we’ll apply the highest PIR, which is currently 28%.

Ways to make the transfer

Existing BNZ customers

There are three ways you can transfer to the BNZ KiwiSaver Scheme.

  1. Log in to Internet Banking and select Apply Now, then choose BNZ KiwiSaver Scheme. You’ll need to have your NetGuard card ready. We’ll be able to set up your KiwiSaver account straight away. 
  2. Complete our online application form (provided you are 18 years old and over) . It should only take a few minutes.
  3. Visit one of our branches and we’ll take you through the process and make the transfer for you.

New to BNZ 

  • Complete our online application form (provided you are 18 years old and over). It should only take a few minutes. You can give us the transfer details at the same time.
  • Visit one of our branches and we’ll take you through the transfer process, and answer any questions you may have.
  • You’ll need to provide identification at the branch, to complete your application.