NZ KiwiSaver Rates and Thresholds 2026/27

Complete reference of KiwiSaver rates, thresholds, contribution rules, and government contributions for the 2026/27 year. KiwiSaver is New Zealand's voluntary workplace savings scheme, established under the KiwiSaver Act 2006.

KiwiSaver Calculator KiwiSaver Fee Calculator First Home Withdrawal

Employee Contribution Rates

Employees can choose from the following contribution rates. The default rate changed from 3% to 3.5% on 1 April 2026.

Rate	Status	Notes
3%	Available (was default until 31 March 2026)	Must actively choose to remain on 3%
3.5%	New default from 1 April 2026	Applied automatically for new members and those who were on 3%
4%	Available	Becomes the new default from 1 April 2028
6%	Available	Employee choice
8%	Available	Employee choice
10%	Available	Maximum employee rate

Employer Contributions

Item	2026/27	Notes
Minimum employer contribution	3.5%	Matching the new default rate (was 3% until 31 March 2026)
ESCT on employer contributions	10.5% to 39%	Based on employee's total remuneration + employer contribution
Employer contributions for 16-17 year olds	Now compulsory	Changed from 1 April 2026. Previously optional for under-18s.
Employer contributions for 65+	Optional	Employer not required to contribute for employees 65+

Government Contribution (Member Tax Credit)

Item	Amount
Government contribution rate	25 cents per $1 of member contributions (halved from 50 cents on 1 July 2025)
Maximum annual government contribution	$260.72 (from 1 July 2025; previously $521.43)
Member contribution needed for maximum	$1,042.86 per year (around $20.06/week)
Eligibility age	16 to 64 (16 and 17-year-olds became eligible from 1 July 2025)
Income eligibility cap	Not available if taxable income exceeds $180,000 per year (from 1 July 2025)
Residency requirement	Must be a NZ tax resident and mainly living in NZ
Contribution year	1 July to 30 June

The government contribution is calculated on the KiwiSaver year (1 July to 30 June), not the tax year. To receive the full $260.72, you need to contribute at least $1,042.86 during the year (25c per $1 up to the cap). For someone earning $30,000 on the 3.5% rate, annual contributions would be $1,050, which is just enough to receive the full government contribution (provided their taxable income is under $180,000).

First Home Withdrawal Rules

Requirement	Detail
Minimum membership period	3 years
Minimum balance after withdrawal	$1,000 must remain in the account
Previous home ownership	Must not currently own property (exceptions for "qualifying first home buyers in equivalent financial position")
Purpose	Purchase of a home you intend to live in
Government contribution withdrawal	Yes, can be withdrawn for first home
Employer contribution withdrawal	Yes, can be withdrawn for first home

First Home Grant (DISCONTINUED)

The First Home Grant (previously the KiwiSaver HomeStart Grant) was discontinued on 22 May 2024. It previously provided up to $5,000 for existing homes and $10,000 for new builds per eligible applicant. The grant is no longer available for new applications.

Kainga Ora First Home Loan

Feature	Detail
Minimum deposit	5% (vs standard 20%)
Income cap (single buyer)	$95,000
Income cap (2+ buyers)	$150,000 combined
House price caps	None (house price caps were removed from 1 June 2022)
Lenders	ANZ, ASB, BNZ, Kiwibank, Westpac, SBS, and others

KiwiSaver Fund Types

Fund Type	Growth Assets	Risk Level	Typical Return (long-term avg)
Defensive / Cash	0 to 10%	Low	2 to 4%
Conservative	10 to 35%	Low-Medium	3 to 5%
Balanced	35 to 63%	Medium	5 to 7%
Growth	63 to 90%	Medium-High	7 to 9%
Aggressive	90 to 100%	High	8 to 11%

Growth assets include shares and property. Higher growth asset allocation means higher long-term expected returns but more short-term volatility. The default fund for auto-enrolled members is a "balanced" fund. Members can switch funds at any time for free.

Other Withdrawal Conditions

Withdrawal Type	Conditions
Retirement (age 65)	Can withdraw full balance as lump sum or partial withdrawals after 5 years of membership
Significant financial hardship	Application to provider with evidence (inability to meet minimum living expenses)
Serious illness	Medical certification of permanent total disablement or terminal illness
Permanent emigration	After 1 year of permanent departure from NZ (not available for moves to Australia)
Death	Paid to estate