What Happens to My KiwiSaver and Insurance When I Change Jobs?

Your KiwiSaver stays with you. It is tied to you, not your employer, so it carries straight on into your new job; you may just need to confirm your contribution rate with the new payroll. Personal insurance you arranged yourself also continues unchanged. The cover that does not follow you is anything provided through your old employer, which usually ends when you leave, so it is worth checking whether you need to replace it.

Does my KiwiSaver move with me to a new job?

Yes. KiwiSaver belongs to you, so changing jobs does not change your account, your provider or your balance. Your new employer’s payroll will start deducting contributions again, and it is a good moment to confirm the rate that comes out, since it does not always carry across automatically.

What about life or health cover provided through my old employer?

Insurance arranged through an employer, such as group life or health cover, is usually linked to that job and often ends when you leave. If you were relying on it, this is the cover most worth checking, because losing it without a replacement can leave a gap you may not notice straight away.

Should I review my contribution rate when I start?

Starting a new job is a natural time to check your KiwiSaver contribution rate, especially if your income has changed. Some people use the move as a prompt to make sure they are still contributing enough to receive any employer and government contributions they are entitled to.

What if there is a gap between jobs?

If there is a period without a salary, automatic KiwiSaver contributions pause, but your account stays invested. Some people choose to make voluntary contributions during a gap, while others simply pause; what suits you depends on your circumstances and budget.

When is it worth talking to an adviser?

Changing jobs is a common trigger for a quick review, particularly if you are losing employer-provided insurance or your income has changed. A short conversation can help you check whether any cover needs replacing and whether your KiwiSaver is still set up the way you want.

You can read more about how we help with KiwiSaver and personal insurance.

The information in this article is general information only and is not intended as financial, medical, health, tax or other advice. It does not take into account any individual’s personal situation or needs. You should consider obtaining professional advice from a financial adviser and/or tax specialist in relation to your own circumstances and before acting on this information.