Time running out to get tax credit

Those who put at least $1042 in their accounts each year to the end of June receive the maximum $521 credit from the Government.

FSC chief executive Peter Neilson said there would be no other savings vehicle that would offer that 50% rate of return.

"$521 a year may not sound like much but over 45 years and then earning interest on the interest reinvested it could mean over $100,000 more in your retirement nest egg at age 65."

The FSC estimates that about 460,000 New Zealanders earning less than $35,000 will probably leave money on the table because they have not contributed enough to pick up the full $521.