Kiwisaver

Enhancing KiwiSaver for Everyone

Strengthening New Zealanders' financial security is central to our plan to fix the basics and build the future. At the heart of that plan are hardworking New Zealanders and their families, who deserve to get ahead when they work hard and make responsible choices for their future.

That's why we are making KiwiSaver compulsory for all workers, kickstarting every child's savings at birth, backing parents on leave, and ensuring older workers don't face an effective pay cut at 65.

See how National's plan grows your retirement savings — try the calculator to estimate your projected balance under our enhanced KiwiSaver.

National's KiwiSaver Calculator

Our Plan for Kiwi Families

Making every New Zealander a KiwiSaver

From 1 July 2028, National will make contributions to KiwiSaver (or an equivalent scheme) compulsory for all workers. Contributions will be made at the prevailing default rate as part of the agreed glidepath, lifting combined default contributions to 12% by 2032. Ensuring every New Zealander is financially prepared for retirement is a top priority.

$1,500 Baby Boost & Auto-Enrolment at Birth

From 1 July 2027, National will enrolment in KiwiSaver at birth will be automatic, and matched with a $1,500 Baby Boost payment to kickstart their retirement savings, which will benefit from decades of compounding returns. At the heart of National is a belief in New Zealand as a property-owning democracy, where every Kiwi has a real stake in the future of our economy. Making that a practical, financial reality for every child growing up in New Zealand today should be a priority.

Paid Parental Leave Top-Up

From 1 July 2027, National will provide a KiwiSaver contribution to people on paid parental leave even if the person is not contributing themselves. This contribution will be made at the default rate applied against the amount of paid parental leave a person is receiving. National believes strong families are the cornerstone of a more prosperous society, and that starts with supporting every family to save for their future and build their own financial security.

Employer Contributions for Workers Over 65

From 1 July 2027, National will require employers to pay the compulsory employer contribution for contributing KiwiSaver members aged over 65, on the same basis as for all other employees, from 1 July 2027.

Frequently Asked Questions

Why is National making KiwiSaver compulsory?

National believes New Zealand is best served by shifting KiwiSaver to a compulsory savings model, where everyone is guaranteed to be more financially prepared for retirement, whether they work part-time, are self-employed, or just need a nudge to save a little more today in preparation for tomorrow.

When will KiwiSaver contributions become compulsory?

If re-elected, National will make contributions to KiwiSaver (or an equivalent scheme) compulsory for all workers from 1 July 2028. Contributions will be made at the prevailing default rate as part of the agreed glidepath, lifting combined default contributions to 12% by 2032, matching Australia.

Will self-employed people have to contribute?

Self-employed individuals would only be required to contribute the equivalent of the employee contribution. This means someone who is self-employed from 1 July 2028 will be required to contribute 4% of their income to their KiwiSaver (not the combined rate of 8%).

How does the Baby Boost work?

If re-elected, enrolment in KiwiSaver at birth will be automatic, and matched with a $1,500 Baby Boost payment to kickstart retirement savings, which will benefit from decades of compounding returns. For example, a $1,500 investment at birth, growing at a long-run average return of approximately 7% per annum, will be worth around $5,000 by age 18, even if there were no further contributions made in that time.

What changes for over-65s?

From 1 July 2027, employers must pay the compulsory employer contribution for contributing KiwiSaver members aged over 65, ending the effective pay cut older workers currently face at 65.