These policies were last reviewed and updated on 15/07. Policy positions are reviewed and updated every Wednesday.
National have legislated an increase in default employer and employee contributions to 3.5% (April 2026) and 4% (April 2028). Their 2026 election pledge is to go further, making KiwiSaver compulsory for all workers from 1 July 2028, and gradually raising the default contribution for both parties to 6%, matching Australia’s retirement contributions by 2032. In the 2025 budget the coalition extended KiwiSaver contributions to 16- and 17-year-olds to foster “the savings habit” and removed it for people earning over $180,000. In 2025, the Government halved the annual government contribution to 25 cents up to a maximum of $260.72.
Review Inland Revenue’s operational breakdown of the 2026 KiwiSaver contribution changes here
Labour is critical of the coalition’s KiwiSaver adjustments, claiming the reduced contribution from $521 to $260 will “steal $66,000 from the retirement savings of an 18-year-old entering the scheme today”. In terms of policy, Labour guarantees that their proposed 28% Capital Gains Tax framework will completely exempt KiwiSaver funds.
In 2022, the Greens criticised cuts to government contributions to KiwiSaver.
The Green Party have not made any specific policy announcements about KiwiSaver for the 2026 election at the time of the last page review.
ACT supported the coalition’s legislated increases to the default KiwiSaver rate. Leader David Seymour has suggested that every Year 11 student should be given $500 in a controlled investment account to learn about investing. In the 2025 budget the coalition extended KiwiSaver contributions to 16 and 17-year-olds to foster “the savings habit” and removed it for people earning over $180,000. The Government halved the annual government contribution to 25 cents up to a maximum of $260.72.
New Zealand First are in favour of making KiwiSaver compulsory. Leader Winston Peters wants to raise the total contribution level (employer + employee) to 8% initially, then to 10%. They are proposing an automatic Crown contribution of $1000 for New Zealand citizens at birth. In the 2025 budget the coalition extended KiwiSaver contributions to 16 and 17-year-olds to foster “the savings habit” and removed it for people earning over $180,000. The Government halved the annual government contribution to 25 cents up to a maximum of $260.72.
Read more what New Zealand First have to say about KiwiSaver
Te Pāti Māori opposed National’s proposal for employers to match KiwiSaver contributions up to 6%, stating that Māori are more likely to be on low incomes and are less able to save.
Te Pāti Māori had not made any specific policy announcements about KiwiSaver for the 2026 election at the time of the last page review.
In May 2026, Te Tai Tokerau MP Mariameno Kapa-Kingi announced she was splitting from Te Pāti Māori and would contest the 2026 General Election as part of a new political party, named Te Tai Tokerau Party. Ms Kapa-Kingi announced the party would be grounded in tino rangatiratanga, local decision-making, and mana mokopuna. We will post the party policies here as they’re released.
Opportunity is proposing what it is calling KiwiSaver 2.0 – a “compulsory and universal” retirement scheme. Employer and employee contributions would total 12% of gross earnings, and unlike current KiwiSaver balances, would not be able to be withdrawn for hardship or first-home deposits.
Retail NZ has included the policies of all parties currently represented in Parliament, listed in order of the number of seats they currently occupy. Additionally, any parties that poll at or above 3% in a political poll during 2026* will also be included underneath, in chronological order of when they met that threshold. Policies are reviewed and updated every Wednesday.
*Opportunity reached 3% in the 1News Verian Poll on 19 April 2026.
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