KiwiSaver

How the latest changes impact your KiwiSaver account

2 MIN READ 19/08/2025
From 1 July 2025, several key changes have come into effect – reshaping how Kiwi save for their future. Here’s a quick overview of what’s changed, what’s ahead, and how to make the most of your KiwiSaver.

 

Updates to government contributions that came into effect on 1st July 2025

Reduced matching rate: The government’s matching contribution has been halved. Now, for every $1 you contribute (up to $1,042.86 annually) between 1 July and 30 June each year, the government will contribute 25 cents, up to a maximum of $260.72.

Income threshold introduced: Individuals earning over $180,000 annually are no longer eligible for the government contribution.

Inclusion of 16 and 17 year olds

16 and 17 year olds are now eligible to receive government contributions, provided they meet the contribution requirements.

Upcoming changes to your KiwiSaver account

Gradual contribution rate increases

To help grow your savings over time, KiwiSaver contribution rates are set to rise. From 1 April 2026, the minimum rate for both employees and employers will increase from 3% to 3.5%. Then, from 1 April 2028, it will rise again to 4%, further supporting your long-term financial goals.

Employer contributions for 16 and 17 year olds

From 1 April 2026, employers will be required to make KiwiSaver contributions for 16 and 17 year old employees who are contributing to their KiwiSaver accounts.

How to make the most of your KiwiSaver account

To receive the full government top-up of $260.72, aim to contribute at least $1,042.86 each year—if you’re eligible. With both government and employer support now extending to younger members, starting early can significantly boost your long-term savings. And with contribution rates set to rise gradually, planning ahead will help ensure you’re well-prepared to meet your retirement and first-home goals.

Need help navigating the changes?

Understanding how these changes apply to your personal circumstances is key to making confident financial decisions. For tailored advice, get in touch with your Haven Financial adviser.

DISCLAIMER

This information is provided in a general nature only and should not be construed as or relied on as financial advice. This is not a recommendation to invest in a particular financial product or class of financial products. You should seek financial advice specific to your circumstances from a financial adviser before making any investment decisions.


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