Budget 2025 - changes to KiwiSaver from 2026

KiwiSaver employee and employer default contribution rates will rise from 3% to 3.5% starting 1 April 2026, with a further increase to 4% from 1 April 2028.

From 1 February 2026, KiwiSaver members can apply for a rate reduction to 3% (which will then also apply to the employer contribution). The period of the rate reduction is limited, and KiwiSaver members need to keep reapplying as needed.

The Government is halving its annual maximum contribution from $521.43 to $260.72 a year and cutting it completely from 1 July 2025 for those earning above $180,000 a year.

16 and 17-year-olds will now be entitled to employer contributions from 1 April 2026 and the government contribution from 1 July 2025.