The Government has made several changes to KiwiSaver aimed at helping New Zealanders grow their savings, whether for a first home or retirement. These updates are important and may affect how you contribute and benefit from KiwiSaver, so it’s worth taking a moment to understand what’s changing and when.

Key changes in 2026 & 2028

From 1 April 2026:

• The default KiwiSaver contribution rate increases to 3.5% for both employees and employers.  
• Eligible 16 and 17 year olds who are contributing to KiwiSaver will qualify for employer contributions at the applicable rate.  
• Employees can apply for a temporary rate reduction to continue contributing at 3%, and employers can choose to match that reduced rate. 

From 1 April 2028: 

• The default contribution rate will increase again to 4% for both employees and employers.

Previous changes in 2025

• 16 and 17-year-olds will become eligible for the Government contribution – an encouraging step for younger savers.
• The Government contribution will reduce to 25 cents for every $1 contributed, up to a maximum of $260.72 per year.
• Those earning over $180,000 annually will no longer be eligible for the Government contribution.

These changes are a step in the right direction, especially the increased support for younger members and the gradual rise in contribution rates. They reflect a growing focus on helping Kiwis close the gap between current savings and the cost of a comfortable retirement. At RIVAL Wealth, we’re here to help you make the most of these changes. Whether you’re just starting out or reviewing your long-term strategy, our KiwiSaver experts can guide you through your options and ensure your plan aligns with your goals.