As part of Budget 2015, the Government announced they will scrap the $1000 kickstart for new KiwiSaver members. However, members will continue to receive an annual tax credit of up to $521 if eligible.
Minister Bill English cited costs to the taxpayer as the reason for the decision, with $2.5 billion was paid out since the scheme began in 2007.
For more information, you can visit the KiwiSaver website: http://www.kiwisaver.govt.nz/new/benefits/kick-start/
If you would like to discuss KiwiSaver in more detail, please call 0800 89 46888 or email [email protected]