There have been some changes to the KiwiSaver Contribution, as well as the introduction of the Depositor Compensation Scheme.

August is “Sorted Money Month” and there are 4 free on-line events as well as 2 free live events, in Christchurch, which you might like to attend.

‍Changes to the KiwiSaver Contribution

‍The Government has introduced several KiwiSaver changes which come into effect on 1 July 2025, 1 April 2026 and 1 April 2028. Click through to see how they might affect you.

‍https://www.ird.govt.nz/kiwisaver-changes#:~:text=1%20July%202025%20changes&text=The%20government%20contribution%20has%20dropped,contribution%20from%20%24521.43%20to%20%24260.72.

‍Depositor Compensation Scheme

The MoneyHub has an excellent article, clearly explained and with several relatable examples.Do take the time to read it and, if it affects you, make your own, informed decision.

‍Always check the facts with your bank/finance company.   https://www.moneyhub.co.nz/depositor-compensation-scheme-explained.html

‍MoneyHub Summary

• From 1 July 2025, if your bank, credit union, building society, or (selected) finance company fails, you'll get up to $100,000 of your money back - guaranteed.
• This protection is automatic, free, and covers most everyday bank accounts and term deposits. But there are important limits and exclusions you need to understand.
• The DCS provides valuable protection but isn't a complete safety net. You get $100,000 coverage per institution - no more, no less.
• Your KiwiSaver isn't covered. And if you have significant wealth, you may want to consider actively managing your deposit spreading strategy.

Sorted Money Month‍

You can: Create your free Sorted dashboard - Save your tools and track your progress, plus opt in to get essential info and handy hacks sent to your inbox.

‍https://sorted.org.nz/free-money-month-events/https://sortedinschools.org.nz/money-month

‍If you would like more information or wish to engage with a Financial Mentor, please contact us to talk about your situation.

We can help you to create your Christmas Savings Plan.

Phone 03 315 3505 or email: servicemanager@bsnc.org.nz

‍We’re on Facebook and www.bsnc.org.nz‍

Our office is in the War Memorial Hall, corner of High and Albert Streets, Rangiora.