KiwiSaver changes — how they affect you |
Here at NZ Compare we know that your broadband and power bills only form part of your financial position, and so when there are big changes to something like the KiwiSaver Scheme we want to keep you informed. Yesterday, as part of Budget 2025, the Government announced a number of changes. These changes will affect members of the KiwiSaver Scheme differently depending on their circumstances. |
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Key 2025 KiwiSaver changes announced |
✅ Cut in Government contributions |
- From 1 July 2025, the Government contribution rate will reduce to 25 cents for every $1 contributed by members, up to a maximum of $260.72. This is half the current rate.
- Members whose annual income is over $180,000 will no longer be eligible for Government contributions.
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NB: Members contribution for the year to March 2025 remains unchanged and will be paid as usual in July/August 2025. |
✅ Age eligibility criteria for Government Contribution |
From 1 July 2025, working 16- and 17-year-olds will be eligible for employer and government contributions. |
✅ Increase in employer and employee contribution rates |
From 1 April 2026 to 1 April 2028, the default employee and employer matching contribution rates will increase from 3% to 4%, phased in over three years: |
- From 1 April 2026, the rate will increase to 3.5%.
- From 1 April 2028, the rate will increase to 4%
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NB: Members contribution for the year to March 2025 remains unchanged and will be paid as usual in July/August 2025. |
