KiwiSaver

Is your KiwiSaver account on track for 2025?

3 MIN READ March 5, 2025
A new year is the perfect time to check in on your KiwiSaver account and ensure you’re making the most of your savings. 

 

Whether you’re planning for retirement or working towards your first home, small tweaks today can make a big difference to your KiwiSaver savings. Here are four steps to help you stay on track in 2025. 

Increase your contributions

Even a slight increase in your KiwiSaver contributions can have a major impact over time. If you’re an employee, you can contribute 3%, 4%, 6%, 8%, or 10% of your gross salary.

Take a moment to review your budget. Could you afford to contribute a little more? According to Sorted NZ, if you’re on an average salary, increasing your contributions from 3% to 10% over your working life could add around $229,000 to your retirement savings. That’s a significant boost to your financial future!

Thinking about increasing your contributions? Read more about how to increase them here.

Make sure you’re in the right fund

Not all funds are created equal, and choosing the right one can make a big difference in your long-term returns. Consider:

  • Your goals: Are you saving for a first home, or retirement?
  • Your risk tolerance: How comfortable are you with market ups and downs? Conservative funds are lower risk but grow more slowly, while growth funds offer higher returns with more volatility.
  • Your timeframe: Will you need access to your KiwiSaver savings in the next few years, or is retirement still decades away? The longer your investment horizon, the more risk you may be able to take.

If you’re unsure whether your current fund aligns with your needs, now is the time to review your options with a Haven adviser.

Stay consistent

The key to growing your KiwiSaver balance is consistency. Regular contributions and the power of compounding returns can significantly increase your savings over time.

  • If you’re employed, contributing at least 3% of your salary ensures your employer will match it – essentially doubling your savings rate.
  • The government provides an annual contribution of 50c, for every $1 you contribute, up to $521.43 between 1 July and 30 June each year.

If you’ve taken a break from contributing, now might be a great time to restart, or make a voluntary contribution, every little bit adds up.

Get expert advice

One of the best ways to maximise your KiwiSaver account is by seeking professional financial advice. Research from the Financial Services Council (FSC) shows that people who receive financial advice tend to have 50% more in their KiwiSaver accounts than those who don’t.

Haven is here to help! If you’ve never reviewed your KiwiSaver strategy with us, now is the perfect time to chat with a Haven adviser and make sure you’re on the right track.

Get started today

Your KiwiSaver account is a powerful tool to help you achieve your financial goals. By making small, smart decisions now, you can set yourself up for a brighter future. 

Ready to get your KiwiSaver account on track? Get in touch with a Haven adviser today!


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