Anyone offering a KiwiSaver scheme must comply with their obligations under the KiwiSaver Act 2006 (the Act). This includes the need to register the scheme on the KiwiSaver Schemes Register. Organisations wanting to provide KiwiSaver schemes also need to obtain Inland Revenue certification for their schemes.
KiwiSaver providers must also comply with any obligations they have as issuers.
There are currently five default KiwiSaver providers as at August 2013.
When an employee starts a new job, if they do not already belong to KiwiSaver and are eligible to join, they will be automatically enrolled in KiwiSaver, unless their employer is exempt from KiwiSaver automatic enrolments. If the employer has not chosen a preferred KiwiSaver provider, the employee will be allocated to a default provider. Default providers operate under special-purpose terms and conditions covered in the documents that were used to appoint them, which are known as Instruments of Appointment.