Locked-in Schemes offer members the same benefits as the Existing Schemes:
- Government Guarantee; and
- 4% minimum annual earnings rate.
These benefits do not apply to KiwiSaver.
Over and above this, Locked-in Schemes also offer:
- member tax credit contributions from the Government with respect to employee contributions; and
- access to the first home purchase subsidy from Housing New Zealand. Note that there are eligibility conditions for the first home purchase subsidy (see question below).