Key features & benefits
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PIE investments have special tax rules and have a maximum tax rate on returns of 28%.
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The tax you’ll pay on any investment income from a PIE is based on your prescribed investor rate (PIR) instead of your personal income tax rate – so you could end up paying less in tax than you would on a non-PIE account or investment.
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Available to almost everyone including companies, trusts and organisations.
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Choose from Notice Saver, PIE Term Deposit or PIE Online Call.
How PIE funds work
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Maximum tax rate of 28%
With a PIE, the tax rate on your returns are capped at a maximum of 28%. This means you could end up paying less tax than you would on a non-PIE account or investment, which has a tax rate of up to 39%.
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Selecting your PIR
When you sign up for a PIE, you'll need to select the correct PIR. Depending on your circumstances, your PIR will be 0%, 10.5%, 17.5% or 28%. To work out your PIR, see our tax information page or the IR website. If you don’t select a PIR, you'll be taxed at the default rate of 28%.
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Prescribed Investor Rate (PIR)
The tax rate that applies to the returns from your PIE is called your Prescribed Investor Rate (PIR). You can update or check your PIR using internet banking or our mobile app.
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Your IRD number
You'll need to provide your IRD number to open a PIE account. You can add your IRD number using internet banking or our mobile app.
Pick the right Prescribed Investor Rate (PIR)
From time to time, Inland Revenue may advise us to change your PIR if they identify that you’re on the wrong rate. If this happens, we'll notify you. If you believe Inland Revenue hasn't given us the correct PIR, you can change your PIR subsequently. You'll need to contact Inland Revenue to discuss why you believe their information is incorrect.
Changes to tax thresholds
On 31 July 2024, new personal income tax thresholds came into effect as a way to reduce the amount of tax you pay on your income. See ird.govt.nz for more information.
As a result of the changes, the PIR thresholds will also change effective 1 April 2025. More information will be provided closer to the time.
Kiwibank PIE Unit Trust
Kiwibank Investment Management Limited is a subsidiary of Kiwibank and manages the PIE products Kiwibank provides. When you deposit money in one of our PIE funds, you're issued with units. The Trust Deed covers how this is managed and the provisions that apply.
Open or apply for a PIE fund
If you’re keen to build your nest egg with a PIE fund, you can open or apply online.
Once your application is complete our team will get in touch with you, so make sure you have your:
- IRD number and the IRD number of any joint applicant(s)
- Prescribed Investor Rate (PIR) if you're applying for a PIE fund
- Confirmation of ID and proof of address. See more about acceptable forms of ID and proof of address.
If you're a business banking customer, please call 0800 601 601 or talk to a business banking specialist.
New to Kiwibank or want to talk through options?
No problem, the easiest way to apply is to complete our form and an investment specialist will call you.
Apply nowAlready a Kiwibank customer?
Log in to Internet Banking and go to Apply & Open to make it happen.
Log in to Internet BankingIn branch
You can also visit one of our branches whether you're new to Kiwibank or already a Kiwibank customer.
Find my nearest KiwibankStandard terms and conditions
Kiwibank PIE Online Call Fund, Kiwibank PIE Term Deposit Fund and Kiwibank Notice Saver are funds within a Portfolio Investment Entity (PIE). Units in Kiwibank PIE Online Call Fund, Kiwibank PIE Term Deposit Fund and Kiwibank Notice Saver are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. See all investments terms and conditions or pick up copies from your nearest Kiwibank.
This communication contains general information only and not investment or tax advice, and as such you shouldn't rely on it as the sole basis for any financial decision. Potential investors should seek professional advice as to whether an investment is right for them, including the taxation implications of such an investment.
Retail products aren't available to financial institutions or wholesale customers.