On my pay slip I see KiwiSaver contributions deducted from my wages, where do these go?
After contributions are deducted from your wages, your employer forwards these on to Inland Revenue with their PAYE schedule.
Your contributions remain at Inland Revenue earning interest for a three month period before being forwarded onto the Fisher Funds KiwiSaver Scheme. The three month period begins on the date that Inland Revenue receive your contributions from your employer, not when the contributions are first deducted from your wages.
After three months, Inland Revenue processes your contributions and forwards them on to the Fisher Funds KiwiSaver Scheme. We then invest those contributions into the Investment Fund(s) that you have selected, the Balanced Fund if you haven't chosen a Fund or the Cash Enhanced Fund if you have been automatically enrolled.
Please note that it usually takes longer than three months before we receive your contributions through Inland Revenue due to when your employer submits their PAYE schedule and Inland Revenue processing times.
You are able to keep track of contributions paid to Inland Revenue (but not yet forwarded to Fisher Funds KiwiSaver Scheme) by visiting www.kiwisaver.govt.nz.
From time to time Inland Revenue experience delays with their processing. If you have contributions that have been delayed we suggest calling Inland Revenue on 0800 549 472 (0800 KIWISAVER), or 04 978 0800 if using a mobile.