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New Zealand - KiwiSaver Savings Suspension

Apply or reinstate a KiwiSaver Savings Suspension or Contribution Holiday to an employee.

Updated over 2 weeks ago

Your employees may notify you that they have an approved Savings Suspension where they can take a break from contributing to their KiwiSaver. This was previously called a Contribution Holiday. For more information see Suspending KiwiSaver deductions and contributions (ird.govt.nz).

To apply the KiwiSaver Savings Suspension

  1. Go to Payroll, Maintenance, Employees, Employees.

  2. Edit the Employee.

  3. Select Superannuation Details.

  4. Edit the Fund at the top.

  5. Tick Date Terminated. This will display the Opt Out and Savings Suspension fields. The Opt Out Notice Date will be ticked by default, and Savings Suspension will be greyed out.

  6. Enter Date Terminated as the date the suspension is to commence.

  7. Untick Opt Out Notice Date.

  8. Tick Savings Suspension.

  9. Click OK. This will stop the Employer Contribution from calculating.

  10. Edit the Employee Contribution in the box at the bottom.

  11. Enter 0 in Value.

  12. Click OK to save the change. This will stop the Employee Contribution from calculating.

  13. Click OK to save the employee record.

Reinstate the contributions at the end of the suspension period

  1. Go to Payroll, Maintenance, Employees, Employees.

  2. Edit the Employee.

  3. Select Superannuation Details.

  4. Edit the Fund in the top box.

  5. Untick Date Terminated. This will remove the Opt Out and Savings Suspension fields.

  6. Click OK.

  7. Edit the Employee Contribution in the box at the bottom.

  8. Enter the Employee's Contribution Percentage into Value.

  9. Click OK to save the change.

  10. Click OK to save the employee record.

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