Budget 2025: KiwiSaver tweaked to increase savings rates and cut Govt costs

Employers will need to contribute more to KiwiSaver. (Image: NZME)

Thu, 22 May 2025

The Government has announced several changes to KiwiSaver, it says are needed to boost the current low savings rate and ensure the scheme is less of a drain on government coffers.Finance Minister Nicola Willis announced a progressive lifting of employee/employer contribution rates, extending the government/employee contribution age to 16 and halving its own contribution to KiwiSaver accounts.It will also means-test the government contribution, limiting eligibility for people earning $180,000 or more. The Government is increasing the defaul...

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