Government Contributions (GC) - based on YOUR contributions if you are eligible
For the year 1 July 2024 to 30 June 2025, if you have put $1,042.86 into your KiwiSaver account, you will still get the full Government contribution of $521.
For the year 1 July 2025 to 30 June 2026 and each year thereafter, the government top up of your KiwiSaver account will halve to 25 cents for each dollar you contribute each year, up to a maximum of $260.72.
From 1 July 2025 onwards, if you earn over $180,000, you won’t get any government top up of your KiwiSaver.
Bumping up your contributions to your KiwiSaver from your pay
You and your employer are set to gradually pay more into your KiwiSaver account from next year. This default rate of contributions will rise from 3 per cent to 3.5 per cent from 1 April 2026, and to 4 per cent from 1 April 2028.
If you want to see how raising your contribution can build your KiwiSaver savings, check out the calculator on our website, or go to Sorted. Note, you and/or your employer may be contributing more than the minimum – check with your employer if you are unsure.
What will my employer have to do?
Your employer will have to gradually match your contribution (up to 4 per cent as described above). If you opt to stick with a 3 per cent contribution, your employer will only have to contribute 3 per cent as well. Check your payslip to make sure this is happening.
What if I can’t afford to pay more into my KiwiSaver account?
You will have an option to stick with the 3 per cent rate if you choose, and your employer will have to match that rate. But, if you do raise your contributions, your KiwiSaver account will grow faster and benefit over the long term.
What’s changing for 16- and 17-year-olds?
16- and 17-year-olds with a KiwiSaver account who so far haven’t been receiving either the government top up or matching contributions from their employers, are set to get both. So, if that’s you, starting on 1 July 2025, you will have to put at least $1,042.86 into your KiwiSaver account between 1 July – 30 June each year to get an annual government contribution (GC) of $260.72.
From 1 April 2026, your employer will have to match your voluntary contribution rate of 3.5 percent (that builds to 4 percent by 2028) as described above.
16 and 17 year olds still have to enrol themselves onto KiwiSaver, as auto-enrolment only happens for 18-year-olds when they start a new job.
What’s the long-term impact of these changes?
Overall, the more money you put in your KiwiSaver account and over a longer time means you will benefit from compounding returns (earning on your investment as well as the returns they make). This means you will build a bigger KiwiSaver balance for your first home or your retirement and that’s a good thing.
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Booster Investment Management Limited is the issuer of the Booster KiwiSaver Scheme (Scheme). The Scheme’s Product Disclosure Statements are available at www.booster.co.nz or by contacting your financial adviser.