Your KiwiSaver provider is required to send you an annual statement each year. Many members glance at it and file it away — but it contains important information worth checking. Here’s how to read it and what to look for.
When Will You Get Your Statement?
KiwiSaver providers send annual statements after each 1 July – 30 June KiwiSaver year. Most statements arrive between August and October each year.
Statements are sent by email (if you’ve provided one and opted in) or post. You can also view your statement details at any time through your provider’s online portal.
What’s in a KiwiSaver Annual Statement?
1. Opening Balance
Your KiwiSaver balance at the start of the year (1 July). This should match last year’s closing balance.
2. Contributions Received
A breakdown of contributions received during the year:
- Employee contributions — your payroll deductions
- Employer contributions — your employer’s 3% (or more)
- Government contributions (MTC) — the Member Tax Credit paid by IRD (shown for the prior year, typically paid July–August)
- Voluntary contributions — any lump sums or regular APs you made directly
Check: Do the employee and employer contribution amounts look right based on your salary and contribution rate? If they don’t match, contact your employer or IRD.
3. Investment Returns
The gain (or loss) from investment activity during the year. This reflects how your chosen fund performed.
For growth funds, this number can be positive in good years and negative during market downturns. Conservative funds typically show smaller but more consistent returns.
4. Fees Deducted
The total fees charged by your provider during the year. This includes:
- Management fees (percentage of balance)
- Member/administration fees (flat amount)
Check: Does the fee amount align with the fee rate your provider advertises? Calculate: (average balance × fee rate) + any flat fees. If the total is significantly higher, contact your provider.
5. Taxes Paid
The PIE tax deducted from your investment returns during the year, at your PIR (10.5%, 17.5%, or 28%).
Check: Does the tax rate look right based on your income? If you’re on 28% PIR but your income dropped into the 17.5% band, update your PIR to avoid overpaying going forward.
6. Closing Balance
Your balance at 30 June — the end of the KiwiSaver year. This should equal: Opening balance + contributions + returns − fees − taxes ± any withdrawals.
Key Things to Check Every Year
| Item | What to verify |
|---|---|
| Total employee contributions | Matches expected contributions (salary × rate × months worked) |
| Employer contributions | Present and equal to ~3% of your gross salary |
| MTC received | $521.43 if you contributed $1,042.86+; pro-rata if less |
| Fees | Consistent with provider’s published rate |
| PIR rate applied | Correct for your income bracket |
| Fund type | Still the right fund for your age and goals |
If Something Looks Wrong
Missing employer contributions: Contact your employer first, then IRD (0800 549 944) if the employer doesn’t resolve it.
Missing MTC: Check myIR — you may not have contributed enough in the year, or your membership may not have been active for the full year.
Incorrect fees: Contact your provider directly with the statement figures.
Wrong PIR: Contact your provider to update your PIR going forward. Overpaid PIR from previous years cannot be refunded.
Accessing Your Statement Online
Most providers offer a digital statement equivalent in their online portal, updated regularly rather than just annually. Log in to your provider’s app or website to see:
- Real-time balance
- Transaction history
- Year-to-date contributions
- Current fund allocation
This is the best way to monitor your KiwiSaver between annual statements.