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Retirement schemes

Since July 2004, all staff in the education sector in New Zealand could join one of these two retirement schemes:

State Sector Retirement Savings Scheme (SSRSS)
Teacher Retirement Savings Scheme (TRSS)

TRSS applies to teachers and principals who belong to either the kindergarten or primary teachers' union (NZEI) or the secondary teachers' union (PPTA) in a state or state integrated school.

SSRSS applies to teaching and non-teaching staff in a state or state-integrated school.

As at 1 October 2008, KiwiSaver is the only retirement savings scheme open to new state sector employees (including teachers).

For more details on these schemes and their benefits visit State Sector Retirement Savings Scheme (SSRSS) or Teacher Retirement Savings Scheme (TRSS)

Note there is no compulsory retirement age in New Zealand for teachers.