Source: ASB
- 51% of New Zealanders surveyed plan to increase KiwiSaver contributions, with 19% already contributing 3.5% or more
- 52% of Kiwi are supportive of the upcoming changes
- 1 in 4 New Zealanders aged 18-24 unaware of any changes to KiwiSaver
New ASB research shows most Kiwi support upcoming increases to KiwiSaver contribution rates, with many already contributing more or planning to increase their contribution once the new settings take effect, even as global market uncertainty continues.
The KiwiSaver contribution rate changes are due to take effect from 1 April 2026, with default contribution rates for both employees and employers increasing from 3% to 3.5%, and 4% from April 2028, but KiwiSaver members can apply to stay on the lower rate temporarily.
Over half of respondents (51%) said they plan to move to the new default contribution rate of 3.5%, while a further 19% said they are already contributing at that level or higher and 5% plan to increase to a rate higher than 3.5%. 15% have said they will look to remain at 3%, and 10% indicated they plan to stop contributing altogether.
ASB Senior Economist Chris Tennent-Brown says, “We know from previous research that about two‑thirds of Kiwi believe they need to be saving more for retirement, so it’s really positive to see that many are already making higher voluntary contributions to their KiwiSaver accounts, which shows confidence in long‑term saving goals despite short‑term uncertainty.”
The survey was conducted in March 2026, during a period of global uncertainty and market volatility, making the findings particularly relevant.
“Even in uncertain times, people recognise the value of staying the course. KiwiSaver is designed to reward long-term commitment, and these changes help strengthen retirement outcomes over time.”
However, the research highlights a clear awareness gap, particularly among the younger demographic. While 57% of respondents said they were aware of both the upcoming KiwiSaver contribution rate changes and their timing, 17% said they were not aware of the changes at all, and a further 26% were aware a change was coming but not across the details. Awareness was particularly low among younger New Zealanders, with around one in four respondents aged 18–24 unaware the changes were coming.
“According to our latest Investor Confidence report, younger New Zealanders show strong confidence in KiwiSaver as a way to build long-term wealth, even if they’re not across every detail of the policy changes. That’s important, because younger members stand to benefit the most over time from higher contributions.” says Chris.
Despite these awareness gaps, sentiment towards the changes is broadly positive with 52% of New Zealanders surveyed supportive of the changes, 9% felt negatively, and the rest neutral.
Notes
- Survey conducted March 2026
- Nationally representative sample (n=822)
- KiwiSaver members within sample: n=568
