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Retirement and savings / KiwiSaver

Should KiwiSaver be compulsory, and how much should go in?

KiwiSaver is not compulsory now. Parties differ on compulsion, contribution rates and tax.Under current law the default KiwiSaver rate for workers and employers is 3.5% of pay, rising to 4% on 1 April 2028, and members can apply to stay at 3% for up to a year. The government adds 25 cents for each dollar a member contributes, up to $260.72 a year, for people earning $180,000 or less. Contributions and fund earnings are taxed; withdrawals are not. The Retirement Commission's 2025 review recommended employer contributions for workers over 65 and a ban on total remuneration contracts, but did not support making KiwiSaver compulsory before a long-term retirement income plan is developed. For 2026, National, NZ First and Opportunity would make contributions compulsory for workers, Labour would make only employer contributions compulsory, and ACT would keep KiwiSaver voluntary and stop taxing fund earnings. No policy was found for the Greens or Te Pāti Māori.

Uneven evidence. Some parties' plans have more published costings or analysis than others. Read what was found

As at 15 October 2026, National and ACT have published year-by-year costings; Labour, NZ First and Opportunity have not. No Treasury or other independent costing of any party's plan was found. The only outside estimates found are an NZ Herald calculation of the tax cuts NZ First has promised, a Public Service Association estimate of costs National's plan leaves to government organisations and funded sector providers, an RNZ comparison of retirement balances under Labour and National, and a 2025 estimate by Shamubeel Eaqub, made before ACT's plan, of what removing tax on fund returns could add to a saver's balance. Costing sections are therefore thinner for some parties. This reflects what has been published, not a judgement on the plans.

How would this affect me? Work out each party's plan for your own income and circumstances.

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Party order is random for each visitor. Tap a party's answer (or its name in a table) for its full breakdown and sources.Order

Bottom lines on this question

What a party has publicly said it must get, or won't accept, to form or support a government after the election. Only the party's own statements count, quoted with their source. Parties marked Bottom line below have one on that answer.

  • No bottom line on this question found: ACT, Green, Labour, National, NZ First, Opportunity, Te Pāti Māori (checked 17 Oct 2026)

Every party's bottom lines, on all issues

These parties propose similar policies, so they are compared on the same rows.

KiwiSaver plans compared

5 of 7 parties
No tax on KiwiSaver earningsStrengthening KiwiSaverCompulsory KiwiSaver and Baby BoostKiwiSaver Generation and compulsory KiwiSaverKiwiSaver 2.0
Compulsory?No; contributing stays a choiceEmployer contributions compulsory from 1 Jul 2028; workers' own stay optionalContributions compulsory for all workers from 1 Jul 2028Enrolment compulsory at birth; contributions compulsory for the workforceYes, in a new scheme separate from today's KiwiSaver
Contribution levelNo change to current rates proposedEmployer rises to 6% by 2032; employee default 4%, minimum rate removed6% employee plus 6% employer (12% combined) by 1 Apr 2032Employee and employer contributions rise to 8%, then 10%; no timetable6% employee plus 6% employer (12% combined), phased in over about eight years
Self-employedNot statedWill explore more flexible optionsMust contribute 4% of income from 1 Jul 2028Not statedNot stated
Payment at birthNot statedNot stated$1,500 with automatic enrolment, from 1 Jul 2027$1,000, citizens onlyNot stated
Paid parental leaveNot statedNew contribution while on leave; amount and start date not statedGovernment contribution at the default rate, from 1 Jul 2027Not statedNot stated
Workers over 65Not statedEmployer contributions from 1 Jul 2028Employer contributions from 1 Jul 2027Not statedNot stated
Pausing or withdrawingNot statedWorkers can lower or pause their own contributions; employer keeps payingContributions can be suspended only under the hardship testNot statedNo withdrawals for hardship or a first home; banks can lend against balances
Total remuneration contractsNot statedNew ones bannedNot statedNot statedNot stated
Tax and government top-upNo tax on fund earnings; ends the government contribution for members who get employer contributionsNo change to KiwiSaver tax or the general government contribution statedNo change stated; costing assumes the current government contribution continuesTax cuts for savers and employers to cover higher contributions; no detailContributions tax-free; fund earnings tax-free after 20 years

Compulsory?

  • No; contributing stays a choice
  • Employer contributions compulsory from 1 Jul 2028; workers' own stay optional
  • Contributions compulsory for all workers from 1 Jul 2028
  • Enrolment compulsory at birth; contributions compulsory for the workforce
  • Yes, in a new scheme separate from today's KiwiSaver

Contribution level

  • No change to current rates proposed
  • Employer rises to 6% by 2032; employee default 4%, minimum rate removed
  • 6% employee plus 6% employer (12% combined) by 1 Apr 2032
  • Employee and employer contributions rise to 8%, then 10%; no timetable
  • 6% employee plus 6% employer (12% combined), phased in over about eight years

Self-employed

  • Will explore more flexible options
  • Must contribute 4% of income from 1 Jul 2028
  • Not stated: ACT, NZ First, Opportunity

Payment at birth

  • $1,500 with automatic enrolment, from 1 Jul 2027
  • $1,000, citizens only
  • Not stated: ACT, Labour, Opportunity

Paid parental leave

  • New contribution while on leave; amount and start date not stated
  • Government contribution at the default rate, from 1 Jul 2027
  • Not stated: ACT, NZ First, Opportunity

Workers over 65

  • Employer contributions from 1 Jul 2028
  • Employer contributions from 1 Jul 2027
  • Not stated: ACT, NZ First, Opportunity

Pausing or withdrawing

  • Workers can lower or pause their own contributions; employer keeps paying
  • Contributions can be suspended only under the hardship test
  • No withdrawals for hardship or a first home; banks can lend against balances
  • Not stated: ACT, NZ First

Total remuneration contracts

  • New ones banned
  • Not stated: ACT, National, NZ First, Opportunity

Tax and government top-up

  • No tax on fund earnings; ends the government contribution for members who get employer contributions
  • No change to KiwiSaver tax or the general government contribution stated
  • No change stated; costing assumes the current government contribution continues
  • Tax cuts for savers and employers to cover higher contributions; no detail
  • Contributions tax-free; fund earnings tax-free after 20 years

Other parties

  • No stated position found: Green (checked 16 Oct 2026)
  • No stated position found: Te Pāti Māori (checked 16 Oct 2026)

Parties are grouped by the approach they take. A party can take more than one.

Approaches

5 of 7 parties take at least one

Make contributions compulsory for workers3 parties

  • National

    Make KiwiSaver compulsory for workers from 2028, 12% combined by 2032, $1,500 at birth.From 1 July 2028 National would make contributions to KiwiSaver, or an equivalent scheme, compulsory for all workers. Default employee and employer rates would rise by 0.5 percentage points a year to 6% each (12% combined) by 1 April 2032; self-employed people would pay 4% of income. From 1 July 2027 every newborn would be enrolled automatically with a $1,500 payment, which National calls the Baby Boost. From the same date parents on paid parental leave would get a government contribution at the default rate, and employers would have to contribute for workers over 65. Contributions could be suspended only under the hardship test. National costs the policy at $110.1 million in 2027/28, rising to $361.6 million in 2030/31, met from future Budget allowances. The biggest tradeoff: workers would build larger retirement savings, but would have less take-home pay now.

  • NZ First

    Enrol babies in KiwiSaver at birth, $1,000 for citizens; compulsory for workers, rising to 10%.NZ First would make KiwiSaver enrolment compulsory at birth, with a one-off $1,000 Crown contribution for New Zealand citizens only; it calls this the KiwiSaver Generation. This sits alongside its earlier campaign policy of compulsory KiwiSaver for the wider workforce, with employee and employer contributions rising to 8% at first and eventually 10%. Winston Peters said in 2025 that savers and employers would receive tax cuts to cover the increases. NZ First has not published a cost, a timetable or how the tax cuts would work. In two NZ Herald scenarios, tax cuts fully offsetting the higher contributions would cost about $12 billion to $28 billion a year. Reports differ on whether the 8% and 10% are combined or apply to employees and employers each. The biggest tradeoff: higher contributions would build larger retirement savings, but the tax cuts meant to offset them would reduce government revenue.

  • Opportunity

    A new compulsory scheme with 6% from workers, 6% from employers, and tax-free contributions.Opportunity would create a new compulsory retirement savings scheme, which it calls KiwiSaver 2.0, separate from today's KiwiSaver. Employee and employer contributions would each rise to 6%, or 12% combined, phased in over about eight years. The full 12% would be exempt from income tax, and tax on fund earnings would be reduced until it ends after 20 years. Money in the new scheme could not be withdrawn for hardship or a first home, but banks could lend against balances to help first-home buyers. Existing KiwiSaver would stay as an optional extra. The party says the National Superannuation Fund would pay for the tax exemptions, and it has published no cost or start date. The biggest tradeoff: savings grow faster, but the government gives up tax revenue and savers lose access to the money before retirement.

Make only employer contributions compulsory1 party

  • Labour

    Make employer contributions compulsory, rising to 6% by 2032; workers' own stay optional.From 1 July 2028 Labour would make employer KiwiSaver contributions compulsory, rising to 6% of pay by 2032, and employers would keep paying when a worker lowers or pauses their own contributions. Employer contributions would also extend to workers over 65 from that date. The default rate for workers would be 4%, and the minimum rate would be removed, so people could choose to pay less. Parents on paid parental leave would get a new KiwiSaver contribution, and new total remuneration contracts, which count the employer contribution as part of pay, would be banned. Labour gives no dollar cost; it says changes in employer superannuation contribution tax revenue would help fund the parental leave contributions and the government's own costs as an employer. The biggest tradeoff: employers would pay 6% for every worker, and workers could keep more take-home pay by paying less themselves, but would then retire with less.

Keep contributions voluntary1 party

  • ACT

    Keep KiwiSaver voluntary, stop taxing fund earnings, end top-ups for those with employer contributions.ACT would remove tax on qualifying investment earnings inside KiwiSaver funds, and in other superannuation schemes, so returns compound untaxed. Members who get employer contributions would lose the annual government contribution, now worth up to $260.72 a year. ACT says it would add rules to stop the change being used to shelter large existing portfolios, but has not published them. It does not propose compulsion or higher contribution rates. ACT's policy document puts the net cost at $2.40 billion over four years from 2027/28, after $2.59 billion saved on the government contribution; its later fiscal plan says $2.77 billion. No start date is stated. The biggest tradeoff: fund returns would compound untaxed, but members with employer contributions would lose the government top-up and the Crown would give up tax revenue.

Enrol children at birth with a starting payment2 parties

  • National

    Make KiwiSaver compulsory for workers from 2028, 12% combined by 2032, $1,500 at birth.From 1 July 2028 National would make contributions to KiwiSaver, or an equivalent scheme, compulsory for all workers. Default employee and employer rates would rise by 0.5 percentage points a year to 6% each (12% combined) by 1 April 2032; self-employed people would pay 4% of income. From 1 July 2027 every newborn would be enrolled automatically with a $1,500 payment, which National calls the Baby Boost. From the same date parents on paid parental leave would get a government contribution at the default rate, and employers would have to contribute for workers over 65. Contributions could be suspended only under the hardship test. National costs the policy at $110.1 million in 2027/28, rising to $361.6 million in 2030/31, met from future Budget allowances. The biggest tradeoff: workers would build larger retirement savings, but would have less take-home pay now.

  • NZ First

    Enrol babies in KiwiSaver at birth, $1,000 for citizens; compulsory for workers, rising to 10%.NZ First would make KiwiSaver enrolment compulsory at birth, with a one-off $1,000 Crown contribution for New Zealand citizens only; it calls this the KiwiSaver Generation. This sits alongside its earlier campaign policy of compulsory KiwiSaver for the wider workforce, with employee and employer contributions rising to 8% at first and eventually 10%. Winston Peters said in 2025 that savers and employers would receive tax cuts to cover the increases. NZ First has not published a cost, a timetable or how the tax cuts would work. In two NZ Herald scenarios, tax cuts fully offsetting the higher contributions would cost about $12 billion to $28 billion a year. Reports differ on whether the 8% and 10% are combined or apply to employees and employers each. The biggest tradeoff: higher contributions would build larger retirement savings, but the tax cuts meant to offset them would reduce government revenue.

Extend contributions to parents on leave and workers over 652 parties

  • Labour

    Make employer contributions compulsory, rising to 6% by 2032; workers' own stay optional.From 1 July 2028 Labour would make employer KiwiSaver contributions compulsory, rising to 6% of pay by 2032, and employers would keep paying when a worker lowers or pauses their own contributions. Employer contributions would also extend to workers over 65 from that date. The default rate for workers would be 4%, and the minimum rate would be removed, so people could choose to pay less. Parents on paid parental leave would get a new KiwiSaver contribution, and new total remuneration contracts, which count the employer contribution as part of pay, would be banned. Labour gives no dollar cost; it says changes in employer superannuation contribution tax revenue would help fund the parental leave contributions and the government's own costs as an employer. The biggest tradeoff: employers would pay 6% for every worker, and workers could keep more take-home pay by paying less themselves, but would then retire with less.

  • National

    Make KiwiSaver compulsory for workers from 2028, 12% combined by 2032, $1,500 at birth.From 1 July 2028 National would make contributions to KiwiSaver, or an equivalent scheme, compulsory for all workers. Default employee and employer rates would rise by 0.5 percentage points a year to 6% each (12% combined) by 1 April 2032; self-employed people would pay 4% of income. From 1 July 2027 every newborn would be enrolled automatically with a $1,500 payment, which National calls the Baby Boost. From the same date parents on paid parental leave would get a government contribution at the default rate, and employers would have to contribute for workers over 65. Contributions could be suspended only under the hardship test. National costs the policy at $110.1 million in 2027/28, rising to $361.6 million in 2030/31, met from future Budget allowances. The biggest tradeoff: workers would build larger retirement savings, but would have less take-home pay now.

Change how KiwiSaver savings are taxed2 parties

  • ACT

    Keep KiwiSaver voluntary, stop taxing fund earnings, end top-ups for those with employer contributions.ACT would remove tax on qualifying investment earnings inside KiwiSaver funds, and in other superannuation schemes, so returns compound untaxed. Members who get employer contributions would lose the annual government contribution, now worth up to $260.72 a year. ACT says it would add rules to stop the change being used to shelter large existing portfolios, but has not published them. It does not propose compulsion or higher contribution rates. ACT's policy document puts the net cost at $2.40 billion over four years from 2027/28, after $2.59 billion saved on the government contribution; its later fiscal plan says $2.77 billion. No start date is stated. The biggest tradeoff: fund returns would compound untaxed, but members with employer contributions would lose the government top-up and the Crown would give up tax revenue.

  • Opportunity

    A new compulsory scheme with 6% from workers, 6% from employers, and tax-free contributions.Opportunity would create a new compulsory retirement savings scheme, which it calls KiwiSaver 2.0, separate from today's KiwiSaver. Employee and employer contributions would each rise to 6%, or 12% combined, phased in over about eight years. The full 12% would be exempt from income tax, and tax on fund earnings would be reduced until it ends after 20 years. Money in the new scheme could not be withdrawn for hardship or a first home, but banks could lend against balances to help first-home buyers. Existing KiwiSaver would stay as an optional extra. The party says the National Superannuation Fund would pay for the tax exemptions, and it has published no cost or start date. The biggest tradeoff: savings grow faster, but the government gives up tax revenue and savers lose access to the money before retirement.

  • No stated position found: Green (checked 16 Oct 2026)
  • No stated position found: Te Pāti Māori (checked 16 Oct 2026)

Each party's whole answer, under the same headings for every party.

ACT

Keep KiwiSaver voluntary, stop taxing fund earnings, end top-ups for those with employer contributions.ACT would remove tax on qualifying investment earnings inside KiwiSaver funds, and in other superannuation schemes, so returns compound untaxed. Members who get employer contributions would lose the annual government contribution, now worth up to $260.72 a year. ACT says it would add rules to stop the change being used to shelter large existing portfolios, but has not published them. It does not propose compulsion or higher contribution rates. ACT's policy document puts the net cost at $2.40 billion over four years from 2027/28, after $2.59 billion saved on the government contribution; its later fiscal plan says $2.77 billion. No start date is stated. The biggest tradeoff: fund returns would compound untaxed, but members with employer contributions would lose the government top-up and the Crown would give up tax revenue.

Compulsory?
No; contributing stays a choiceNo; contributing stays a choice
Contribution level
No change to current rates proposedNo change to current rates proposed
Self-employed
Not stated
Payment at birth
Not stated
Paid parental leave
Not stated
Workers over 65
Not stated
Pausing or withdrawing
Not stated
Total remuneration contracts
Not stated
Tax and government top-up
No tax on fund earnings; ends the government contribution for members who get employer contributionsNo tax on fund earnings; ends the government contribution for members who get employer contributions

Green

No stated position found (checked 16 Oct 2026)

Labour

Make employer contributions compulsory, rising to 6% by 2032; workers' own stay optional.From 1 July 2028 Labour would make employer KiwiSaver contributions compulsory, rising to 6% of pay by 2032, and employers would keep paying when a worker lowers or pauses their own contributions. Employer contributions would also extend to workers over 65 from that date. The default rate for workers would be 4%, and the minimum rate would be removed, so people could choose to pay less. Parents on paid parental leave would get a new KiwiSaver contribution, and new total remuneration contracts, which count the employer contribution as part of pay, would be banned. Labour gives no dollar cost; it says changes in employer superannuation contribution tax revenue would help fund the parental leave contributions and the government's own costs as an employer. The biggest tradeoff: employers would pay 6% for every worker, and workers could keep more take-home pay by paying less themselves, but would then retire with less.

Compulsory?
Employer contributions compulsory from 1 Jul 2028; workers' own stay optionalEmployer contributions compulsory from 1 Jul 2028; workers' own stay optional
Contribution level
Employer rises to 6% by 2032; employee default 4%, minimum rate removedEmployer rises to 6% by 2032; employee default 4%, minimum rate removed
Self-employed
Will explore more flexible optionsWill explore more flexible options
Payment at birth
Not stated
Paid parental leave
New contribution while on leave; amount and start date not statedNew contribution while on leave; amount and start date not stated
Workers over 65
Employer contributions from 1 Jul 2028Employer contributions from 1 Jul 2028
Pausing or withdrawing
Workers can lower or pause their own contributions; employer keeps payingWorkers can lower or pause their own contributions; employer keeps paying
Total remuneration contracts
New ones bannedNew ones banned
Tax and government top-up
No change to KiwiSaver tax or the general government contribution statedNo change to KiwiSaver tax or the general government contribution stated

National

Make KiwiSaver compulsory for workers from 2028, 12% combined by 2032, $1,500 at birth.From 1 July 2028 National would make contributions to KiwiSaver, or an equivalent scheme, compulsory for all workers. Default employee and employer rates would rise by 0.5 percentage points a year to 6% each (12% combined) by 1 April 2032; self-employed people would pay 4% of income. From 1 July 2027 every newborn would be enrolled automatically with a $1,500 payment, which National calls the Baby Boost. From the same date parents on paid parental leave would get a government contribution at the default rate, and employers would have to contribute for workers over 65. Contributions could be suspended only under the hardship test. National costs the policy at $110.1 million in 2027/28, rising to $361.6 million in 2030/31, met from future Budget allowances. The biggest tradeoff: workers would build larger retirement savings, but would have less take-home pay now.

Compulsory?
Contributions compulsory for all workers from 1 Jul 2028Contributions compulsory for all workers from 1 Jul 2028
Contribution level
6% employee plus 6% employer (12% combined) by 1 Apr 20326% employee plus 6% employer (12% combined) by 1 Apr 2032
Self-employed
Must contribute 4% of income from 1 Jul 2028Must contribute 4% of income from 1 Jul 2028
Payment at birth
$1,500 with automatic enrolment, from 1 Jul 2027$1,500 with automatic enrolment, from 1 Jul 2027
Paid parental leave
Government contribution at the default rate, from 1 Jul 2027Government contribution at the default rate, from 1 Jul 2027
Workers over 65
Employer contributions from 1 Jul 2027Employer contributions from 1 Jul 2027
Pausing or withdrawing
Contributions can be suspended only under the hardship testContributions can be suspended only under the hardship test
Total remuneration contracts
Not stated
Tax and government top-up
No change stated; costing assumes the current government contribution continuesNo change stated; costing assumes the current government contribution continues

NZ First

Enrol babies in KiwiSaver at birth, $1,000 for citizens; compulsory for workers, rising to 10%.NZ First would make KiwiSaver enrolment compulsory at birth, with a one-off $1,000 Crown contribution for New Zealand citizens only; it calls this the KiwiSaver Generation. This sits alongside its earlier campaign policy of compulsory KiwiSaver for the wider workforce, with employee and employer contributions rising to 8% at first and eventually 10%. Winston Peters said in 2025 that savers and employers would receive tax cuts to cover the increases. NZ First has not published a cost, a timetable or how the tax cuts would work. In two NZ Herald scenarios, tax cuts fully offsetting the higher contributions would cost about $12 billion to $28 billion a year. Reports differ on whether the 8% and 10% are combined or apply to employees and employers each. The biggest tradeoff: higher contributions would build larger retirement savings, but the tax cuts meant to offset them would reduce government revenue.

Compulsory?
Enrolment compulsory at birth; contributions compulsory for the workforceEnrolment compulsory at birth; contributions compulsory for the workforce
Contribution level
Employee and employer contributions rise to 8%, then 10%; no timetableEmployee and employer contributions rise to 8%, then 10%; no timetable
Self-employed
Not stated
Payment at birth
$1,000, citizens only$1,000, citizens only
Paid parental leave
Not stated
Workers over 65
Not stated
Pausing or withdrawing
Not stated
Total remuneration contracts
Not stated
Tax and government top-up
Tax cuts for savers and employers to cover higher contributions; no detailTax cuts for savers and employers to cover higher contributions; no detail

Opportunity

A new compulsory scheme with 6% from workers, 6% from employers, and tax-free contributions.Opportunity would create a new compulsory retirement savings scheme, which it calls KiwiSaver 2.0, separate from today's KiwiSaver. Employee and employer contributions would each rise to 6%, or 12% combined, phased in over about eight years. The full 12% would be exempt from income tax, and tax on fund earnings would be reduced until it ends after 20 years. Money in the new scheme could not be withdrawn for hardship or a first home, but banks could lend against balances to help first-home buyers. Existing KiwiSaver would stay as an optional extra. The party says the National Superannuation Fund would pay for the tax exemptions, and it has published no cost or start date. The biggest tradeoff: savings grow faster, but the government gives up tax revenue and savers lose access to the money before retirement.

Compulsory?
Yes, in a new scheme separate from today's KiwiSaverYes, in a new scheme separate from today's KiwiSaver
Contribution level
6% employee plus 6% employer (12% combined), phased in over about eight years6% employee plus 6% employer (12% combined), phased in over about eight years
Self-employed
Not stated
Payment at birth
Not stated
Paid parental leave
Not stated
Workers over 65
Not stated
Pausing or withdrawing
No withdrawals for hardship or a first home; banks can lend against balancesNo withdrawals for hardship or a first home; banks can lend against balances
Total remuneration contracts
Not stated
Tax and government top-up
Contributions tax-free; fund earnings tax-free after 20 yearsContributions tax-free; fund earnings tax-free after 20 years

Te Pāti Māori

No stated position found (checked 16 Oct 2026)

Background and sources

Current settings. Budget 2025 raised the default employee and employer rate from 3% to 3.5% from 1 April 2026 and to 4% from 1 April 2028, halved the government contribution to 25 cents per dollar (maximum $260.72), removed it for people earning over $180,000, and gave 16- and 17-year-olds employer contributions (Budget 2025, Inland Revenue). Employers do not have to contribute for members over 65; the Retirement Commission has recommended mandating it. KiwiSaver has nearly 3.5 million members (1News), and Labour says more than a million working-age members are not contributing (1News).

What the Retirement Commission says. Te Ara Ahunga Ora's 2025 review said decisions such as whether to "make KiwiSaver compulsory" raise significant questions, and "We do not support making these changes before the long-term plan is developed". It recommended mandating employer contributions for people over 65, banning total remuneration policies, extending the parental leave government contribution, and increasing the government contribution for low earners. It notes that New Zealand taxes contributions and earnings but not withdrawals (Retirement Commission). In April 2026 it said it would watch hardship withdrawals as contribution rates rise (Retirement Commission). Retirement Commissioner David Boyle supports automatic enrolment but has become more cautious about higher rates, which he says could push lower earners into hardship (1News).

ACT

ACT would remove tax on qualifying investment earnings inside KiwiSaver funds, and in other superannuation schemes, so returns compound untaxed. Members who get employer contributions would lose the annual government contribution, now worth up to $260.72 a year. ACT says it would add rules to stop the change being used to shelter large existing portfolios, but has not published them. It does not propose compulsion or higher contribution rates. ACT's policy document puts the net cost at $2.40 billion over four years from 2027/28, after $2.59 billion saved on the government contribution; its later fiscal plan says $2.77 billion. No start date is stated. The biggest tradeoff: fund returns would compound untaxed, but members with employer contributions would lose the government top-up and the Crown would give up tax revenue.

Policies: No tax on KiwiSaver earnings

Who gains

  • Established evidenceKiwiSaver members and members of other superannuation schemes, whose fund earnings, now taxed at up to 28%, would no longer be taxed. [2][4]
  • Party claimACT says a 20-year-old builder on $60,000 would have $209,486 more by 65, and a 50-year-old office manager on $80,000 would have $20,878 more. [2]

Who pays

  • Established evidenceMembers who receive employer contributions lose the government contribution, now up to $260.72 a year for people earning $180,000 or less. The Crown gives up tax on fund earnings. Whether a member is better or worse off overall depends on their balance, contributions and tax rate. [2][6][4]

Cost and costing disputes

  • Party claimNet $2.396 billion over four years from 2027/28 in the policy document, and $2.772 billion in ACT's fiscal plan, which shows a smaller saving from ending the government contribution. [2][3]
  • Party claimDavid Seymour says the policy will reduce government revenue by "around $1 billion per year". [4]
  • Established evidenceNeither ACT document explains the difference between its two figures, and no independent costing was found. [2][3]

Evidence from elsewhere

  • Established evidenceThe Retirement Commission says the 1980s move to taxing retirement savings contributions and earnings, but not withdrawals, removed tax incentives for saving. [7]
  • Established evidenceBefore Budget 2025, the government contribution made up about 20% of a low earner's final KiwiSaver balance, against under 5% for high earners (Retirement Commission). Budget 2025 then halved the contribution rate, and the figures have not been modelled against ACT's plan. [7][8][6]
  • Established evidenceThe Retirement Commission's 2025 review does not support making KiwiSaver compulsory before a long-term retirement income plan is developed; ACT's plan keeps KiwiSaver voluntary. [7][2]

Risks and side effects

  • Party claimACT says it would add rules to stop large existing portfolios being sheltered from tax. [2]
  • Established evidenceACT has not published those rules, so the revenue effect is uncertain. [2][4]

Implementation

  • Established evidenceNo start date is stated; the costings begin in 2027/28. The change would also apply to superannuation schemes outside KiwiSaver, and it is part of ACT's fiscal plan released on 11 October. [2][5]

Strongest case for

  • Party claimACT says tax on fund earnings "removes every future return that money could have earned". [2]
  • Independent estimateNo named supporter was found. Before ACT's policy, Shamubeel Eaqub estimated untaxed returns alone could add about $300,000, not counting the lost top-up. [9]

Strongest case against

  • Party claimChlöe Swarbrick (Greens) says ending the government contribution and removing tax on gains "will most benefit the richest". [5]
  • Established evidenceThe Retirement Commission, which has not assessed ACT's plan, recommended in 2025 raising low earners' government contribution. [7]
  1. No tax on KiwiSaver earnings · ACT New Zealand · accessed 15 Oct 2026
  2. No tax on KiwiSaver earnings (policy document, 4 October 2026) · ACT New Zealand · accessed 15 Oct 2026
  3. ACT Fiscal Plan 2026 · ACT New Zealand (hosted by interest.co.nz) · accessed 15 Oct 2026 · archived copy (17 Oct 2026)
  4. ACT pledges to remove tax on KiwiSaver earnings and end government contributions (4 October 2026) · interest.co.nz · accessed 15 Oct 2026
  5. ACT wants $10b slashed from the public service, $12.4b lower debt by 2031 and a lower operating allowance (11 October 2026) · interest.co.nz · accessed 15 Oct 2026
  6. KiwiSaver changes · Inland Revenue · accessed 15 Oct 2026
  7. Review of Retirement Income Policies 2025 · Te Ara Ahunga Ora Retirement Commission · accessed 15 Oct 2026
  8. Budget 2025 factsheet: KiwiSaver changes · New Zealand Government (budget.govt.nz) · accessed 15 Oct 2026
  9. Call to rethink tax on KiwiSaver (4 June 2025) · RNZ · accessed 16 Oct 2026
Change history

Every recorded change to this entry, newest first, including our own corrections after checks.

  1. 16 Oct 2026 Fact fix after fourth agent review; cited Inland Revenue alongside the Budget 2025 factsheet for the halved contribution rate. [6]
  2. 16 Oct 2026 Revised after second agent review; used ACT's argument on future returns in the case for, said the Retirement Commission has not assessed ACT's plan, and added its view on compulsion to evidence. [2][7]
  3. 16 Oct 2026 Revised after agent review; added ACT's stated reasons, gave the Eaqub estimate its caveats, said no named independent critic was found, stated the distribution point once, labelled the 20%/5% figures as pre-Budget 2025, and linked the policy document's PDF. [2][9][7]
  4. 16 Oct 2026 Fact-check before review; removed an unsupported 'nominal' qualifier, typed the Retirement Commission recommendation as established, and cited only the policy document for ACT's examples. [9][7][2]
  5. 16 Oct 2026 Revised after review; added an independent estimate to the case for, a distribution risk, and dated the Retirement Commission figure; applied cross-issue consistency rules. [9][7]
  6. 15 Oct 2026 First researched from party and independent sources. [1][2]
As at 16 Oct 2026About ACTReport a problem with this entry

Labour

From 1 July 2028 Labour would make employer KiwiSaver contributions compulsory, rising to 6% of pay by 2032, and employers would keep paying when a worker lowers or pauses their own contributions. Employer contributions would also extend to workers over 65 from that date. The default rate for workers would be 4%, and the minimum rate would be removed, so people could choose to pay less. Parents on paid parental leave would get a new KiwiSaver contribution, and new total remuneration contracts, which count the employer contribution as part of pay, would be banned. Labour gives no dollar cost; it says changes in employer superannuation contribution tax revenue would help fund the parental leave contributions and the government's own costs as an employer. The biggest tradeoff: employers would pay 6% for every worker, and workers could keep more take-home pay by paying less themselves, but would then retire with less.

Policies: Strengthening KiwiSaver

Who gains

  • Established evidenceWorkers whose employers do not now contribute for them, including people over 65 and those who have paused their own saving; parents on paid parental leave, who would get a new contribution; and workers who would otherwise be offered new total remuneration contracts. [1][3]
  • Party claimLabour says more than a million working-age members are not contributing. [2]

Who pays

  • Established evidenceEmployers, whose minimum contribution would rise from the 4% due in April 2028 to 6% by 2032, and continue when workers pause. National's plan sets the same employer rate. [1][3][7][4]

Cost and costing disputes

  • Party claimLabour says changes in ESCT revenue would help fund the parental leave contribution and the Crown's higher costs as an employer, phased in from 2027/28 to 2030/31. [1]
  • Established evidenceLabour has published no dollar cost. No independent costing was found. [1]

Evidence from elsewhere

  • Independent estimateIn an RNZ comparison (method and return assumptions not stated; before income tax), a 25-year-old on $60,000 at the default rate would have about $1.014 million at retirement under Labour and $1.241 million under National. The worker would pay 4% under Labour and 6% under National; employers 6% under both. [4][1]
  • Established evidenceThe Retirement Commission recommends banning total remuneration policies and requiring employer contributions for people over 65; Labour's plan bans new total remuneration contracts and includes over-65 contributions. [6][1]
  • Established evidenceThe Retirement Commission's 2025 review does not support making KiwiSaver compulsory before a long-term retirement income plan is developed. It did not comment on employer-only compulsion. [6]

Risks and side effects

  • Independent estimateWorkers who use the option to pay less would build smaller balances, though their employer would keep contributing: in the RNZ comparison, a 25-year-old who stopped contributing would have about $561,000 from employer contributions alone. [4]
  • Established evidenceLabour has not published an assessment of the effect of the 6% employer rate on wages, hiring or business costs, and no independent assessment was found. [1]
  • ContestedThe Public Service Association, a public-sector union, estimated $4.5 billion in higher employer costs for existing public sector workers under National's 6% employer rate. Labour's plan has the same employer rate; the PSA has not costed Labour's plan, and Labour has not published this cost. [8][1]

Implementation

  • Party claimCompulsory employer contributions and contributions for over-65s start on 1 July 2028. [1][3]
  • Established evidenceLabour's page gives no start date for the parental leave contribution; interest.co.nz reports 1 July 2028. Options for the self-employed are still to be explored. [1][3]

Strongest case for

  • Party claimLabour says "a stronger KiwiSaver means more wealth in Kiwi hands", and Barbara Edmonds says its plan would "give workers more flexibility when money is tight". [1][2]
  • ContestedEconomist Shamubeel Eaqub backs separating employer and employee contributions. [4]

Strongest case against

  • ContestedBernard Hickey says National and Labour are both talking about "compulsion without compensation": in KiwiSaver "you pay the tax first and then you put what's left over into the scheme. There's no incentive." [5]
  1. Strengthening KiwiSaver · New Zealand Labour Party · accessed 15 Oct 2026
  2. Labour unveils KiwiSaver overhaul with mandatory employer contributions (13 September 2026) · 1News · accessed 15 Oct 2026
  3. Labour promises compulsory employer KiwiSaver contributions, rising to 6% (13 September 2026) · interest.co.nz · accessed 15 Oct 2026
  4. KiwiSaver: Would Labour or National make you better off? (RNZ, 15 September 2026) · The Spinoff · accessed 15 Oct 2026
  5. Is this the KiwiSaver election? Here's what experts wish politicians would get right (4 October 2026) · 1News · accessed 15 Oct 2026 · archived copy (17 Oct 2026)
  6. Review of Retirement Income Policies 2025 · Te Ara Ahunga Ora Retirement Commission · accessed 15 Oct 2026
  7. KiwiSaver changes · Inland Revenue · accessed 15 Oct 2026
  8. $4.5b hole in National's KiwiSaver policy would mean more public service cuts (2 July 2026) · Public Service Association · accessed 15 Oct 2026
Change history

Every recorded change to this entry, newest first, including our own corrections after checks.

  1. 16 Oct 2026 Revised after fourth agent review; added that the PSA's employer-cost estimate for National's plan covers the same 6% employer rate, and that employers keep contributing when a worker pays less. [8][4]
  2. 16 Oct 2026 Fact fix after third agent review; cited Labour's page for its 4% worker rate in the RNZ comparison item. [1]
  3. 16 Oct 2026 Revised after second agent review; added the employer cost to the biggest tradeoff and a risk that no wage or business-cost assessment was published, reported the 1 July 2028 parental leave date from interest.co.nz, cited Kiernan's comments, and removed the PSA line, which was about National's plan. [3][4][1]
  4. 16 Oct 2026 Revised after agent review; listed parents on paid parental leave and workers on new total remuneration contracts among those who gain, and noted the PSA's employer-cost estimate applies to the same 6% employer rate. [1][8]
  5. 16 Oct 2026 Fact-check before review; said the ESCT revenue would help fund the costs, as Labour's page does. [1]
  6. 16 Oct 2026 Revised after review; RNZ comparison worded the same as in National's entry, and Retirement Commission and case against wording clarified; applied cross-issue consistency rules. [4][6]
  7. 15 Oct 2026 First researched from party and independent sources. [1]
As at 16 Oct 2026About LabourReport a problem with this entry

National

From 1 July 2028 National would make contributions to KiwiSaver, or an equivalent scheme, compulsory for all workers. Default employee and employer rates would rise by 0.5 percentage points a year to 6% each (12% combined) by 1 April 2032; self-employed people would pay 4% of income. From 1 July 2027 every newborn would be enrolled automatically with a $1,500 payment, which National calls the Baby Boost. From the same date parents on paid parental leave would get a government contribution at the default rate, and employers would have to contribute for workers over 65. Contributions could be suspended only under the hardship test. National costs the policy at $110.1 million in 2027/28, rising to $361.6 million in 2030/31, met from future Budget allowances. The biggest tradeoff: workers would build larger retirement savings, but would have less take-home pay now.

Policies: Compulsory KiwiSaver and Baby Boost

Who gains

  • Established evidenceNewborns, parents on paid parental leave, workers over 65 and workers who do not now save. [2]
  • Party claimNational's example is a $1,500 payment growing to about $5,000 by age 18 at 7% a year. [1][2]

Who pays

  • Established evidenceWorkers and employers, each paying 6% of pay by 2032 against 4% under current law from 2028; self-employed people pay 4%. Taxpayers fund the birth and parental leave payments. [2][9]

Cost and costing disputes

  • Party claim$110.1 million in 2027/28 rising to $361.6 million in 2030/31, about $1.14 billion over four years, met from future Budget operating allowances. [2][3]
  • ContestedThe Public Service Association, a public-sector union, estimates higher employer contributions for existing public sector workers would cost government organisations and funded providers $4.5 billion, which it says National's costing does not include. No National reply was found. [5]
  • Established evidenceLabour's plan has the same employer rate. No independent costing was found. [6][2]

Evidence from elsewhere

  • Independent estimateIn an RNZ comparison (method and return assumptions not stated; before income tax), a 25-year-old on $60,000 at the default rate would have about $1.241 million at retirement under National and $1.014 million under Labour. The worker would pay 6% under National and 4% under Labour; employers 6% under both. [6][11]
  • Party claimNational cites Retirement Commission research that contribution rates are lower among low-income, part-time and self-employed workers. [2]
  • Established evidenceThe Retirement Commission recommends requiring employer contributions for people over 65; National's plan includes this. [8][2]
  • Established evidenceThe Retirement Commission's 2025 review does not support making KiwiSaver compulsory before a long-term retirement income plan is developed. [8]
  • Established evidenceRNZ reports that the end of the $1,000 kick-start in 2015 "was blamed for a sharp reduction in the number of under-18-year-old members". [10]

Risks and side effects

  • ContestedRetirement Commissioner David Boyle, speaking generally, warns higher contribution rates could push lower earners into financial difficulty and hardship withdrawals. [7]
  • ContestedKoura's Rupert Carlyon says letting people stop contributing under the hardship test would be hard to run: "Administratively, that's too hard." [4]
  • Established evidenceNational has not published an assessment of the effect of the 6% employer rate on wages, hiring or business costs, and no independent assessment was found. [2]

Implementation

  • Party claimBirth, parental leave and over-65 measures from 1 July 2027; compulsion from 1 July 2028; 6% each from 1 April 2032. Employer-run defined contribution schemes would be exempt. [2]

Strongest case for

  • Party claimChristopher Luxon says "life in retirement without a reliable pool of savings can be so much tougher", and people will be "fundamentally wealthier". [3]
  • ContestedPathfinder's John Berry backs moving to Australia's 12% rate. [6]

Strongest case against

  • ContestedShamubeel Eaqub (Simplicity) says "for the bottom 60% of incomes, they are going to struggle if they have less take-home pay". [4]
  • ContestedBernard Hickey says National and Labour are both talking about "compulsion without compensation". [7]
  1. KiwiSaver · New Zealand National Party · accessed 15 Oct 2026
  2. National KiwiSaver policy document · New Zealand National Party · accessed 15 Oct 2026
  3. KiwiSaver mandated for all workers if National re-elected (21 June 2026) · 1News · accessed 15 Oct 2026
  4. Can New Zealanders really afford compulsory KiwiSaver? (RNZ, June 2026) · RNZ, published by 1News · accessed 15 Oct 2026
  5. $4.5b hole in National's KiwiSaver policy would mean more public service cuts (2 July 2026) · Public Service Association · accessed 15 Oct 2026
  6. KiwiSaver: Would Labour or National make you better off? (RNZ, 15 September 2026) · The Spinoff · accessed 15 Oct 2026
  7. Is this the KiwiSaver election? Here's what experts wish politicians would get right (4 October 2026) · 1News · accessed 15 Oct 2026 · archived copy (17 Oct 2026)
  8. Review of Retirement Income Policies 2025 · Te Ara Ahunga Ora Retirement Commission · accessed 15 Oct 2026
  9. KiwiSaver changes · Inland Revenue · accessed 15 Oct 2026
  10. Why 'in-between generation' may miss out on KiwiSaver bonuses (RNZ, 18 September 2026) · 1News · accessed 17 Oct 2026 · archived copy (17 Oct 2026)
  11. Strengthening KiwiSaver · New Zealand Labour Party · accessed 15 Oct 2026
Change history

Every recorded change to this entry, newest first, including our own corrections after checks.

  1. 17 Oct 2026 Replaced a Good Returns figure that could not be checked behind its paywall with RNZ's report on the end of the kick-start; matched the Boyle line to 1News. [10][7]
  2. 16 Oct 2026 Fact and fairness fixes after third agent review; cited Labour's page for its 4% worker rate, and added the same unassessed wage and business-cost risk Labour's entry carries. [11][2]
  3. 16 Oct 2026 Revised after second agent review; described the PSA as a public-sector union and its estimate in its own terms, and noted no National reply was found. [5]
  4. 16 Oct 2026 Fact-check before review; quoted Luxon's own words exactly, described the earlier contribution commitment as 1News does, and described the PSA's costs as falling on government organisations and funded sector providers. [3]
  5. 16 Oct 2026 Revised after review; RNZ comparison worded the same as in Labour's entry, and a criticism that covers both plans added; applied cross-issue consistency rules. [6][7]
  6. 15 Oct 2026 First researched from party and independent sources. [1][2]
As at 17 Oct 2026About NationalReport a problem with this entry

NZ First

NZ First would make KiwiSaver enrolment compulsory at birth, with a one-off $1,000 Crown contribution for New Zealand citizens only; it calls this the KiwiSaver Generation. This sits alongside its earlier campaign policy of compulsory KiwiSaver for the wider workforce, with employee and employer contributions rising to 8% at first and eventually 10%. Winston Peters said in 2025 that savers and employers would receive tax cuts to cover the increases. NZ First has not published a cost, a timetable or how the tax cuts would work. In two NZ Herald scenarios, tax cuts fully offsetting the higher contributions would cost about $12 billion to $28 billion a year. Reports differ on whether the 8% and 10% are combined or apply to employees and employers each. The biggest tradeoff: higher contributions would build larger retirement savings, but the tax cuts meant to offset them would reduce government revenue.

Policies: KiwiSaver Generation and compulsory KiwiSaver

Who gains

  • Established evidenceBabies who are citizens would get $1,000 at birth, and workers would build larger balances if contribution rates rose to 8% and then 10%. [1]
  • Party claimPeters says this would make KiwiSaver "a serious New Zealand asset owning entity". [3]

Who pays

  • Established evidenceWorkers and employers pay higher contributions; taxpayers fund the $1,000 payments and any offsetting tax cuts. Babies who are not citizens get no payment. [1][2]

Cost and costing disputes

  • Established evidenceNZ First has published no cost for the birth payment, the higher contributions or the tax cuts. No independent costing of the whole plan was found. [1][2]
  • Independent estimateIn the NZ Herald's own calculation, tax cuts fully offsetting the higher contributions could cost about $12 billion to $28 billion a year, depending on the contribution rates it assumed. NZ First has published no cost to compare it with. [8]

Evidence from elsewhere

  • Established evidenceRNZ reports that the end of the $1,000 kick-start in 2015 "was blamed for a sharp reduction in the number of under-18-year-old members". [6]
  • Established evidenceThe Retirement Commission's 2025 review does not support making KiwiSaver compulsory before a long-term retirement income plan is developed. [9]

Risks and side effects

  • ContestedRetirement Commissioner David Boyle, speaking generally, warns higher contribution rates could push lower earners into financial difficulty and hardship withdrawals. [10]
  • Established evidenceBecause NZ First has not published how the tax cuts would work, who would end up better or worse off after contributions and tax cannot yet be assessed. [2][1]
  • Established evidenceNZ First has not published an assessment of the effect of higher employer rates (8%, then 10%) on wages, hiring or business costs, and no independent assessment was found. [1][2]

Implementation

  • Established evidenceNo start date or phase-in has been published. [1][2]

Strongest case for

  • Party claimWinston Peters says birth enrolment "will ensure every child begins their financial life as a KiwiSaver member". [4]
  • ContestedGreg Smith of KiwiSaver provider Generate says of birth enrolment, "At a conceptual level, the idea is hard to argue with." [5]

Strongest case against

  • ContestedShamubeel Eaqub says the offsetting tax cuts "will be quite challenging just given the demographics of New Zealand". [7]
  • ContestedGenerate's Greg Smith says "a simple one-off payment, on its own, is unlikely to deliver lasting behavioural change". [5]
  1. Establishing a KiwiSaver Generation · New Zealand First · accessed 15 Oct 2026
  2. Peters wants to make KiwiSaver contributions 10% (RNZ, 7 September 2025) · Otago Daily Times · accessed 15 Oct 2026
  3. Peters savages Labour and Greens as he unveils compulsory KiwiSaver (7 September 2025) · Chris Lynch Media · accessed 15 Oct 2026
  4. Peters outlines compulsory KiwiSaver and BNZ buyback plans (17 May 2026) · Otago Daily Times · accessed 15 Oct 2026
  5. KiwiSaver from birth: a big idea worth debating (Greg Smith, 25 May 2026) · Generate · accessed 17 Oct 2026
  6. Why 'in-between generation' may miss out on KiwiSaver bonuses (RNZ, 18 September 2026) · 1News · accessed 17 Oct 2026 · archived copy (17 Oct 2026)
  7. NZ First's promise of compulsory 10% KiwiSaver and tax cuts not feasible, economist says · RNZ · accessed 15 Oct 2026
  8. NZ First KiwiSaver policy could cost Government $12b-$28b · NZ Herald · accessed 15 Oct 2026
  9. Review of Retirement Income Policies 2025 · Te Ara Ahunga Ora Retirement Commission · accessed 15 Oct 2026
  10. Is this the KiwiSaver election? Here's what experts wish politicians would get right (4 October 2026) · 1News · accessed 15 Oct 2026 · archived copy (17 Oct 2026)
  11. Does National's new KiwiSaver policy sound familiar? (22 June 2026) · The Spinoff · accessed 15 Oct 2026
Change history

Every recorded change to this entry, newest first, including our own corrections after checks.

  1. 17 Oct 2026 Replaced Good Returns lines that could not be checked behind its paywall with RNZ's report on the kick-start and Greg Smith's published views on the birth payment and its cost; matched the Boyle line to 1News. [6][5][10]
  2. 17 Oct 2026 Owner's call; added the risk line Labour and National carry: no assessment of the employer rate's effect on wages, hiring or business costs. [1][2]
  3. 16 Oct 2026 Revised after fourth agent review; described the Herald figure as its own full-offset scenarios at the rates it assumed. [8]
  4. 16 Oct 2026 Revised after agent review; added the Herald estimate to the summary, said the tax-cut design is unpublished rather than undesigned, removed the 'not being introduced today' quote from implementation and the BNZ aside, and marked Carlyon's comments as about the birth payment. [8] Good Returns
  5. 16 Oct 2026 Fact-check before review; said reports differ on whether the 8% and 10% are combined, and gave the Herald's tax-cut estimate as a yearly figure. [8]
  6. 16 Oct 2026 Revised after review; removed a repeated point from the explain text and a risk that repeated the case against; applied cross-issue consistency rules. [7]
  7. 15 Oct 2026 First researched from party and independent sources. [1]
As at 17 Oct 2026About NZ FirstReport a problem with this entry

Opportunity

Opportunity would create a new compulsory retirement savings scheme, which it calls KiwiSaver 2.0, separate from today's KiwiSaver. Employee and employer contributions would each rise to 6%, or 12% combined, phased in over about eight years. The full 12% would be exempt from income tax, and tax on fund earnings would be reduced until it ends after 20 years. Money in the new scheme could not be withdrawn for hardship or a first home, but banks could lend against balances to help first-home buyers. Existing KiwiSaver would stay as an optional extra. The party says the National Superannuation Fund would pay for the tax exemptions, and it has published no cost or start date. The biggest tradeoff: savings grow faster, but the government gives up tax revenue and savers lose access to the money before retirement.

Policies: KiwiSaver 2.0

Who gains

  • Established evidenceSavers, whose whole contribution would be invested before income tax. [2][3]
  • Party claimThe party says $100 put in "won't be taxed down to around $70", and that the scheme would build "a trillion-dollar capital pool". [2][1]

Who pays

  • Established evidenceWorkers and employers pay 6% each. The Crown gives up income tax on contributions and, over time, on fund earnings. [2][3]
  • Party claimThe party says the National Superannuation Fund would fund the tax exemptions. [2]

Cost and costing disputes

  • Party claimThe party says higher returns on a bigger pool "will more than cover that initial cost to Government". [2]
  • Established evidenceOpportunity has published no cost, and Qiulae Wong could not estimate it. No independent costing was found. [3][5]

Evidence from elsewhere

  • Established evidenceThe Retirement Commission says the 1980s move to taxing retirement savings contributions and earnings, but not withdrawals, removed tax incentives for saving. [9]
  • Established evidenceThe Retirement Commission's 2025 review does not support making KiwiSaver compulsory before a long-term retirement income plan is developed. [9]

Risks and side effects

  • Party claimQiulae Wong says compulsory KiwiSaver "is a lot harder" for lower-income people without other changes to economic settings. [3]
  • Established evidenceThe new scheme would allow no hardship withdrawals. [2]
  • ContestedRetirement Commissioner David Boyle, speaking generally, warns higher contribution rates could push lower earners into financial difficulty and hardship withdrawals. [6]
  • Established evidenceThe policy paper gives two phase-in periods (six to seven years and eight years) and says both that fund gains will be taxed and that fund income becomes tax-exempt after 20 years. [2]
  • Established evidenceOpportunity has not published an assessment of the effect of the 6% employer rate on wages, hiring or business costs, and no independent assessment was found. [2]

Implementation

  • Party claimIntroduced through a decade-long Tax Reset transition. Existing KiwiSaver stays as a supplementary scheme and balances can be moved across. [2]
  • Established evidenceNo start date is given. [2]

Strongest case for

  • Party claimQiulae Wong says "other schemes around the world have got tax free contributions to superannuation". [3]
  • ContestedNo named supporter of Opportunity's plan was found. More generally, Pathfinder's John Berry, discussing Labour and National, backs a 12% rate. [8]

Strongest case against

  • ContestedNo named critic of Opportunity's plan was found. More generally, Koura's Rupert Carlyon, on National's plan for the same 6% and 6% rates, asks "how are people going to afford that". [7]
  1. Tax Reset · The Opportunity Party · accessed 15 Oct 2026 · archived copy (16 Oct 2026)
  2. Tax Reset (policy paper) · The Opportunity Party · accessed 15 Oct 2026
  3. Opportunity Party wants to create KiwiSaver 2.0 with 12% tax-free combined employee and employer contributions (15 September 2026) · interest.co.nz · accessed 15 Oct 2026
  4. Leader Qiulae Wong explains Opportunity Party's land tax and retirement savings policies (17 September 2026) · interest.co.nz · accessed 15 Oct 2026
  5. ANALYSIS: How does the Opportunity Party's big tax-and-welfare rethink stack up? (8 May 2026) · Good IDEAs (The IDEA Charitable Trust) · accessed 15 Oct 2026
  6. Is this the KiwiSaver election? Here's what experts wish politicians would get right (4 October 2026) · 1News · accessed 15 Oct 2026 · archived copy (17 Oct 2026)
  7. Can New Zealanders really afford compulsory KiwiSaver? (RNZ, June 2026) · RNZ, published by 1News · accessed 15 Oct 2026
  8. KiwiSaver: Would Labour or National make you better off? (RNZ, 15 September 2026) · The Spinoff · accessed 15 Oct 2026
  9. Review of Retirement Income Policies 2025 · Te Ara Ahunga Ora Retirement Commission · accessed 15 Oct 2026
Change history

Every recorded change to this entry, newest first, including our own corrections after checks.

  1. 17 Oct 2026 Matched the Boyle line to 1News: financial difficulty and hardship withdrawals. [6]
  2. 17 Oct 2026 Agent review; corrected the phase-in to about eight years, as interest.co.nz reports; the 0.5-point yearly step is National's. [3]
  3. 17 Oct 2026 Owner's call; added the risk line Labour and National carry: no assessment of the employer rate's effect on wages, hiring or business costs. [2]
  4. 16 Oct 2026 Fact-check before review; removed a starting-rate claim the source does not make. [3]
  5. 16 Oct 2026 Revised after review; replaced a risk that repeated the case against, and corrected a citation; applied cross-issue consistency rules. [3]
  6. 15 Oct 2026 First researched from party and independent sources. [1][2]
As at 17 Oct 2026About OpportunityReport a problem with this entry