KiwiSaver and the 2026 election: what each party’s policy would mean for you

A neutral comparison of every party’s KiwiSaver proposals, and what the ones that give figures would mean for your balance at 65. Parties are listed in alphabetical order, with current law first.

Last checked 10 November 2026Not affiliated with any political partyNothing you type leaves your device

Where things stand

The general election was held on 7 November 2026. These are preliminary results only. Official results are due on 27 November 2026.

No government has been formed and no coalition agreement has been published. The proposals on this page are not law and could change in negotiations.

Seats on the preliminary count
Party	Seats
ACT	13
Green	16
Labour	36
National	42
NZ First	12
Opportunity	7
Te Pāti Māori	5

131 seats in total; 66 are needed for a majority.

Official source: electionresults.govt.nz. Seats can change when special votes are counted.

Last checked 10 November 2026.

The short answer

For a 30 year old earning $70,000 with $20,000 in a balanced fund, our model gives these balances at 65 in today’s dollars: current law $302,947; ACT $382,462 (+$79,515); Labour $348,651 (+$45,703); National $417,420 (+$114,472); Opportunity $409,804 (+$106,857, on our assumed timetable).

Higher contributions raise the balance at 65 but leave less in your pay now. In 2032, at today’s pay, you would pay $1,400 more a year under National’s proposal, $700 more under Opportunity’s on our assumed timetable, and nothing extra under ACT’s or Labour’s. The ACT difference comes from tax-free fund earnings less the government contribution, not from higher contributions. None of these proposals is law.

At 65, in today’s dollars, by scenario

Scenario	Rates in 2032 (you / employer)	At 65, today’s dollars	Difference from current law	Extra from you in 2032	Extra from your employer in 2032	Government contribution in 2032
Current law	4% / 4%	$302,947	Baseline	Baseline	Baseline	$260.72
ACT	4% / 4%	$382,462	+$79,515	$0	$0	$0.00
Labour	4% / 6%	$348,651	+$45,703	$0	+$980	$260.72
National	6% / 6%	$417,420	+$114,472	+$1,400	+$980	$260.72
Opportunity	5% / 5%our assumed timetable	$409,804	+$106,857	+$700	+$490	$260.72

The 2032 columns show one year at today’s pay. Employer amounts are after ESCT. Higher contributions raise the balance at 65 but leave less in your pay now.

The ACT line has no government contribution from 2027/28 and adds back the tax on fund earnings at a PIR of 28%, the rate we picked from your salary. That is an approximation: PIE tax falls on taxable income, not the total return.

Current law $302,947
ACT $382,462
Labour $348,651
National $417,420
Opportunity $409,804

Show the chart as a table

Age	Year to	Current law	ACT	Labour	National	Opportunity
31	2027	$24,633	$24,633	$24,633	$24,633	$24,633
32	2028	$29,389	$29,467	$29,389	$29,389	$29,389
33	2029	$34,872	$35,099	$34,872	$34,872	$34,872
34	2030	$40,501	$40,959	$40,752	$41,111	$40,806
35	2031	$46,280	$47,055	$47,044	$48,136	$47,208
36	2032	$52,213	$53,395	$53,763	$55,978	$54,095
37	2033	$58,301	$59,987	$60,923	$64,669	$61,485
38	2034	$64,550	$66,838	$68,138	$73,458	$69,276
39	2035	$70,870	$73,865	$75,544	$82,485	$77,597
40	2036	$77,354	$81,165	$83,145	$91,754	$86,467
41	2037	$84,006	$88,747	$90,947	$101,270	$95,906
42	2038	$90,830	$96,619	$98,952	$111,040	$105,596
43	2039	$97,829	$104,791	$107,167	$121,067	$115,544
44	2040	$105,008	$113,273	$115,595	$131,359	$125,754
45	2041	$112,369	$122,074	$124,240	$141,920	$136,233
46	2042	$119,918	$131,205	$133,109	$152,757	$146,986
47	2043	$127,659	$140,676	$142,204	$163,875	$158,020
48	2044	$135,594	$150,498	$151,532	$175,281	$169,340
49	2045	$143,729	$160,681	$161,098	$186,981	$180,952
50	2046	$152,068	$171,238	$170,906	$198,981	$192,863
51	2047	$160,615	$182,180	$180,961	$211,287	$205,080
52	2048	$169,375	$193,519	$191,270	$223,907	$217,608
53	2049	$178,352	$205,268	$201,836	$236,846	$230,454
54	2050	$187,550	$217,439	$212,667	$250,111	$243,625
55	2051	$196,975	$230,046	$223,766	$263,710	$257,129
56	2052	$206,631	$243,103	$235,141	$277,649	$270,971
57	2053	$216,523	$256,622	$246,797	$291,936	$285,160
58	2054	$226,656	$270,620	$258,739	$306,578	$299,702
59	2055	$236,889	$285,110	$270,827	$321,435	$314,458
60	2056	$247,373	$300,108	$283,215	$336,663	$329,584
61	2057	$258,114	$315,630	$295,908	$352,269	$345,086
62	2058	$269,118	$331,691	$308,914	$368,262	$360,973
63	2059	$280,127	$348,047	$321,844	$384,254	$376,858
64	2060	$291,402	$364,964	$335,087	$400,638	$393,133
65	2061	$302,947	$382,462	$348,651	$417,420	$409,804

Proposals, not law. Last checked 10 November 2026. General information, not financial advice.

The policies side by side

From party material and news coverage reviewed up to 10 November 2026. “None found” means we found no stated policy in the sources reviewed. UNVERIFIED marks a point that rests on a single non-official source.

Scenario	Current law	ACT	Green	Labour	National	NZ First	Opportunity	Te Pāti Māori
Employee rate	3.5% from 1 April 2026, 4% from 1 April 2028	No change (current law: 4% from 2028)	None found	Default 4%, minimum removed	Default 4% (2028), then up 0.5 points a year to 6% (2032)	8% then 10% (no timetable; each or total unclear)	Rising to 6% “over time”	None found
Employer rate	3.5% from 1 April 2026, 4% from 1 April 2028	No change	None found	Compulsory from 1 July 2028, 6% by 2032, paid even if the employee pauses	Matches employee, 6% by 2032	8% then 10%	Rising to 6%	None found
Compulsory membership	No	No (opposes)	None found	Employer side only; employees not compelled	Yes, all workers from 1 July 2028 (hardship suspension only)	Yes (workforce and at birth)	Yes (“Kiwisaver 2.0”)	None found (raised affordability concerns)
Government contribution	25c per $1, up to $260.72 a year; none if taxable income is over $180,000	End it for members receiving employer contributions	None found	No change; not restoring	No change stated	None found	None found	None found
Tax on fund earnings	Taxed at your PIR (10.5%, 17.5% or 28%)	Remove	None found	No change	No change	Tax cuts to offset higher rates (unspecified)	Contributions tax exempt; earnings exempt over 20 years	None found
Children	Not covered in the sources reviewed	$500 per Year 11 student account (UNVERIFIED)	None found	No newborn policy	Auto-enrol at birth plus $1,500 from 1 July 2027	Compulsory at birth plus $1,000, citizens only	None found	None found
Paid parental leave	Not covered in the sources reviewed	None found	None found	Contributions continue (2028/29)	Government contribution from 1 July 2027	None found	None found	None found
Employer contributions over 65	Not required	None found	None found	Required from July 2028	Required from 1 July 2027	None found	None found	None found
First home withdrawal	After 3 years of membership, leaving $1,000 in	None found	None found	No change found	No change found	None found	Not allowed under Kiwisaver 2.0	None found
NZ Super age	65	67 by 2035	65 (secondary source)	65 (secondary source)	No age in party KiwiSaver material; reported 67 from 2044 subject to cross-party talks (UNVERIFIED)	65, “no eligibility age increase”; citizens only	Replace with Citizen’s Income plus top-up	Earlier access for Māori (2024 position)

What each party has said

In alphabetical order. Quotes are the parties’ own words where we could read a party source; otherwise we say which news report a point comes from.

ACT

Modelled above

Contribution rates: no change proposed. ACT’s policy document says: “Other parties at this election want to make New Zealanders put more money into their KiwiSaver, leaving less in their back pocket”.
Tax on earnings: “ACT will remove tax on qualifying investment earnings inside KiwiSaver funds, allowing returns to remain invested and compounding tax-free.” This would also apply to superannuation schemes outside KiwiSaver.
Government contribution: “ACT will end the KiwiSaver Government Contribution for members receiving employer contributions and replace it with substantially greater tax relief inside their KiwiSaver accounts.”
Compulsion: ACT opposes it. David Seymour called compulsion under National’s plan “disruptive” (NZ Herald, 21 June 2026) and “a big gift for the financial services sector” (1News, 22 June 2026).
ACT’s own costing, 2027/28 to 2030/31: removing tax on KiwiSaver earnings $4.082 billion, removing KiwiSaver subsidies a saving of $2.59 billion, and a net $2.396 billion including other superannuation schemes.
NZ Super age: raise it to 67 by 2035, with early access for people in physically demanding jobs, and keep KiwiSaver access at 65 (Lifetime Income and RNZ The Detail, October 2026).
Children: The Spinoff reports that ACT backs $500 for each Year 11 student for a controlled investment account (UNVERIFIED).

Sources: ACT, No tax on KiwiSaver earnings (4 October 2026) · ACT 2026 Fiscal Plan (11 October 2026) · NZ Herald, 21 June 2026 · 1News, 22 June 2026 · RNZ The Detail, 19 October 2026 · Lifetime Income, 21 October 2026 · The Spinoff, 21 May 2026

Green Party

Described, not modelled

No KiwiSaver policy found in the sources reviewed. The Spinoff (21 May 2026), Solid Steel Advice (updated 5 October 2026) and RNZ The Detail (19 October 2026, “no specific KiwiSaver policies”) all report none.
Earlier record: the Greens backed the 2021 rule requiring default providers to exclude fossil fuel production and illegal weapons.
In 2026 the party issued a release about KiwiSaver across the public service in Budget 2026. It concerns the government’s settings, not a Green policy.
NZ Super age: keep it at 65 and restore a 10-year residency requirement, according to Lifetime Income (UNVERIFIED).
There are no figures to model, so there is no Green line on the chart.

Sources: The Spinoff, 21 May 2026 · Solid Steel Advice, 5 October 2026 · RNZ The Detail, 19 October 2026 · Green Party, 2021 default fund exclusions · Green Party, Budget 2026 release · Lifetime Income, 21 October 2026

Labour

Modelled above

Employer contributions: “From 1 July 2028, employer contributions will become compulsory.” The employer rate would “lift to 6 percent by 2032”, “including when employees reduce or pause their own contributions”.
Timing: Labour’s release says only “6 percent by 2032”. The 0.5 point yearly steps we model come from NZ Herald reporting (13 September 2026).
Employee contributions: the default rate would be set at 4% and the minimum rate removed. Employee contributions would not be compulsory (RNZ, 13 September 2026).
Total remuneration: Labour would “Ban new total remuneration contracts that absorb employer KiwiSaver contributions into salaries.”
Over 65: Labour would “Extend employer contributions to workers over 65”, from July 2028 according to RNZ.
Paid parental leave: Labour would “Keep KiwiSaver growing for parents while they’re on paid parental leave”, from 2028/29 according to the NZ Herald.
Government contribution: no commitment to restore it. Chris Hipkins said Labour is “not in a financial position to do that right at the moment” (NZ Herald, 13 September 2026).
Self-employed: Labour would explore flexible options (RNZ). NZ Super age: keep it at 65, according to Lifetime Income (UNVERIFIED).

Sources: Labour, release, 13 September 2026 · RNZ, 13 September 2026 · NZ Herald, 13 September 2026 · Lifetime Income, 21 October 2026

National

Modelled above

Contribution rates: the default employee rate, matched by employers, would be 4% from 1 April 2028, 4.5% from 1 April 2029, 5% from 1 April 2030, 5.5% from 1 April 2031 and 6% from 1 April 2032. In the party’s words: “gradually increasing KiwiSaver contributions to match Australia’s 12 per cent rate”.
Compulsion: “everyone in work will be required to contribute to KiwiSaver, or an equivalent retirement savings scheme, from 1 July 2028”. “People will be able to suspend contributions only if they meet the existing hardship test”.
Self-employed: they “will be required to contribute 4% of their income to their KiwiSaver (not the combined rate of 8%)”.
Children: from 1 July 2027, National would “automatically enrol every baby born in New Zealand into KiwiSaver at birth” with a “$1500 Baby Boost payment”.
Paid parental leave: from 1 July 2027, “a Government contribution to a parent’s KiwiSaver while they’re on paid parental leave”.
Over 65: National would “require employers to maintain KiwiSaver contributions for employees over 65 from 1 July 2027”.
Government contribution: no change stated. Newsroom reports it as unchanged.
NZ Super age: no age policy on its KiwiSaver pages. Christopher Luxon said: “We are big believers in universal superannuation. We do not want to muck around with that” (RNZ, 22 June 2026). Lifetime Income reports National supports raising the age to 67 from 2044 after cross-party discussion (UNVERIFIED).
Costings: the four June 2026 measures cost “a little over $1.1 billion over four years” (NZ Herald, 21 June 2026).

Sources: National, Enhancing KiwiSaver for Everyone · National, press release, 21 June 2026 · National, press release, 23 November 2025 · Newsroom, 21 June 2026 · NZ Herald, 21 June 2026 · RNZ, 22 June 2026 · Lifetime Income, 21 October 2026

NZ First

Described, not modelled

Children: “New Zealand First is going to make KiwiSaver enrolment compulsory at birth and there will be an automatic immediate Crown contribution of $1000 for New Zealand citizens only” (17 May 2026).
Compulsion and rates: “our existing campaign policy of compulsory KiwiSaver enrolment for the wider workforce and increasing employee and employer contributions to 8% initially and eventually to 10%” (17 May 2026).
No timetable has been published, and reports differ on whether 8% and 10% are each or in total.
Tax offsets: Winston Peters said “KiwiSavers and employers will receive tax cuts to cover the increases” (RNZ, 7 September 2025). We found no costing.
NZ Super: NZ First says a government that includes it would not means test NZ Super, raise the eligibility age or change indexing (17 May 2026). It also says “only New Zealand citizens will be eligible for New Zealand Super”, with “a grace period to take effect within the next three years” (6 September 2026).
Why there is no NZ First line: without a timetable, and without knowing whether the rates are each or in total, any figure would be our invention.

Sources: NZ First, speech, 17 May 2026 · NZ First, speech, 6 September 2026 · RNZ, 7 September 2025

Opportunity (TOP)

Modelled above

Compulsion and rates: “we’ll introduce a compulsory retirement contributions system” called “Kiwisaver 2.0”. “Over time, employee and employer contribution rates will rise to 6%”.
Timing: TOP has published no timetable. Reported phase-ins range from 6 to 7 years (The Spinoff) to eight years (Solid Steel Advice), so the even rise from 4% in 2028 to 6% in 2036 that we model is our own assumption.
Tax: contributions would be exempt from income tax, and fund earnings exempted progressively over 20 years (Deloitte, 13 July 2026). Deloitte reports the policy as not costed. We do not model the tax changes.
Withdrawals: in Deloitte’s description of the policy, “There will be no ability to access KiwiSaver balances for hardship or first-home deposits”. The Spinoff reports members could borrow against their balances (UNVERIFIED).
NZ Super: “NZ Superannuation will be replaced by the Citizen’s Income, combined with a top-up figure”, and “No-one who relies on NZ Superannuation will receive less than they currently do under the Tax Reset”.

Sources: Opportunity, Tax Reset · Deloitte, 13 July 2026 · The Spinoff, 21 May 2026 · Solid Steel Advice, 5 October 2026

Te Pāti Māori

Described, not modelled

No KiwiSaver policy found in the sources reviewed (RNZ The Detail, 19 October 2026, “no specific KiwiSaver policies”; The Spinoff, 21 May 2026).
The Spinoff reports that Debbie Ngarewa-Packer raised equity concerns about people who cannot afford minimum contributions.
In 2024 the party called for Māori to access NZ Super “seven to 10 years earlier” than the rest of the population. We found no evidence on whether this is 2026 policy.
There are no figures to model, so there is no Te Pāti Māori line on the chart.

Sources: RNZ The Detail, 19 October 2026 · The Spinoff, 21 May 2026 · NZ Herald, 2024

How we modelled this

Every scenario runs through the same tested year-by-year model as our other calculators: the Schedule 7A return for your fund type after fees and tax, 2% inflation, 3.5% pay growth, ESCT worked out each year, and the government contribution of 25c per $1 up to $260.72. Balances are at 65 in today’s dollars.
You stay on the default employee rate in every scenario, keep working and contributing until 65, and keep the same fund type.
Each rate applies from the model year named, in the same way our other calculators apply the 1 April 2028 step. The first model year (2026) is the same in every scenario.
Current law: 3.5% each until 1 April 2028, then 4% each. Government contribution as now.
ACT: rates as current law. From the 2027/28 year, no government contribution (you receive employer contributions) and no tax on fund earnings.
ACT earnings tax: Schedule 7A returns are after tax at a 28% PIR, so we take the return before tax as that return divided by 0.72, and add back the tax at your own PIR: 10.5% if taxable income is $15,600 or less, 17.5% up to $53,500, otherwise 28% (Inland Revenue). We use your pay each year as taxable income and leave out PIE income. At a 28% PIR this equals the return divided by (1 minus PIR). It is an approximation: PIE tax falls on taxable income, not the total return.
Labour: your default rate is 4% from 2028 with no further rise. Your employer pays 4% in 2028, 4.5% in 2029, 5% in 2030, 5.5% in 2031 and 6% from 2032. The yearly steps come from NZ Herald reporting; Labour’s release says only “6 percent by 2032”.
National: you and your employer each pay 4% in 2028, 4.5% in 2029, 5% in 2030, 5.5% in 2031 and 6% from 2032. Government contribution unchanged.
Opportunity: our own assumption of an even rise of 0.25 points a year, from 4% each in 2028 to 6% each in 2036, because TOP has published no timetable and reported phase-ins range from 6 to 8 years. Government contribution unchanged. Tax exemptions not modelled.
The 2032 columns are one year at today’s pay. Employer amounts are after ESCT. Higher contributions raise the balance at 65 but leave less in your pay now.
Not modelled: NZ First, the Green Party and Te Pāti Māori (no figures to model), compulsion, payments for children, paid parental leave contributions, employer contributions after 65, Opportunity’s tax exemptions, NZ Super changes, and any effect on pay growth.

Questions people ask

Is National’s KiwiSaver policy law yet?

No. It is an election proposal. As at 10 November 2026 there are preliminary results only, official results are due on 27 November 2026, and no government or coalition agreement has been announced. Current law still applies: 3.5% each, rising to 4% each on 1 April 2028.

What is ACT’s KiwiSaver policy?

ACT would remove tax on KiwiSaver fund earnings and end the government contribution for members receiving employer contributions. Contribution rates would not change. For a 30 year old on $70,000 with $20,000 in a balanced fund, our model gives $382,462 at 65 in today’s dollars, +$79,515 compared with current law.

What is Labour’s KiwiSaver policy?

Labour would make employer contributions compulsory from 1 July 2028 and lift the employer rate to 6% by 2032, set the default employee rate at 4% and remove the minimum employee rate. For the same example, our model gives $348,651 at 65 in today’s dollars, +$45,703 compared with current law.

What is National’s KiwiSaver policy?

National would raise the default employee rate and the employer rate from 4% in 2028 by 0.5 points a year to 6% from 2032, require everyone in work to contribute from 1 July 2028, and enrol babies at birth with a $1,500 payment from 1 July 2027. For the same example, our model gives $417,420, +$114,472 compared with current law, with $1,400 a year more from your pay in 2032.

What is the Opportunity Party’s KiwiSaver policy?

A compulsory “Kiwisaver 2.0”, with employee and employer rates rising to 6% over time, tax-exempt contributions, fund earnings exempted over 20 years, and no hardship or first-home withdrawals. TOP has published no timetable, so the $409,804 we show for the example rests on our assumed timetable.

What do NZ First, the Green Party and Te Pāti Māori propose?

NZ First proposes compulsory enrolment at birth with $1,000 for citizens, and compulsory KiwiSaver for the wider workforce with rates rising to 8% and then 10%, with no timetable. We found no KiwiSaver policy from the Green Party or Te Pāti Māori in the sources reviewed.

More calculators

KiwiSaver and the 2026 election: what each party’s policy would mean for you

Where things stand

Your details

The policies side by side

What each party has said

ACT

Green Party

Labour

National

NZ First

Opportunity (TOP)

Te Pāti Māori

How we modelled this

Questions people ask

Is National’s KiwiSaver policy law yet?

What is ACT’s KiwiSaver policy?

What is Labour’s KiwiSaver policy?

What is National’s KiwiSaver policy?

What is the Opportunity Party’s KiwiSaver policy?

What do NZ First, the Green Party and Te Pāti Māori propose?

Other KiwiSaver questions

Lifetime projection

Contribution rate

Government contribution

Fund types

Fee impact

First home withdrawal

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