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election-2026KiwiSavertax-policy-comparison

KiwiSaver at the NZ Election: Every Party's Policy Compared

Side by side: what Labour, National, ACT, NZ First, the Greens, Te Pāti Māori and Opportunity promise on KiwiSaver, against the law that applies today.

Published 5 November 2026 · Updated 8 November 2026 · Reviewed by NZ Tax Tools Editorial Desk · 7 min read

At a glance
3.5%
Current default and employer minimum
4%
Already scheduled for 1 April 2028
6%
Employer rate by 2032 under Labour and National promises

KiwiSaver Calculator →

Contributions, employer match, MTC, and withdrawal scenarios

Written on 5 November 2026 and checked against each party’s own documents that day; updated on 8 November 2026 with the preliminary result. Only the first section below is law. Everything after it is a promise that would need a government, a Bill and a vote. This page recommends no party, and parties appear in the same order as every party’s tax policy compared.

After the vote: what the preliminary result means for these promises

On the Electoral Commission’s preliminary count of the 7 November 2026 election, National, ACT and New Zealand First have 67 of 131 projected seats, more than the 66 needed for a majority. Labour, the Greens and Te Pāti Māori have 57, or 64 with Opportunity. The count is preliminary: official results are due on 27 November 2026, and special votes can move list seats.

  • Labour’s and Opportunity’s KiwiSaver promises are unlikely to be legislated, because Labour is not on track to lead the next government. That would change only if the official count or coalition talks produced a different government.
  • National’s, ACT’s and New Zealand First’s promises are still promises. They differ from one another (National would make KiwiSaver compulsory, ACT says it should stay a choice), no coalition agreement had been published by 8 November, and whatever a coalition agrees still needs a Bill.

The law today, whoever governs

These settings stay in force until Parliament changes them:

  • Rates. The default employee rate and the employer minimum have been 3.5% since 1 April 2026, and both rise to 4% on 1 April 2028 under the Taxation (Budget Measures) Act 2025. No later step is scheduled. See the contribution rates guide.
  • Membership. KiwiSaver is not compulsory. A new employee aged 18 or over is automatically enrolled and can opt out.
  • Employer money follows yours. An employer’s compulsory contribution applies to pay from which a KiwiSaver deduction is made or required (KiwiSaver Act s 101C). No deduction, no compulsory contribution.
  • Pausing. You can apply for a savings suspension at any time for financial hardship, or for any reason after 12 months (s 102).
  • Over-65s. The compulsory employer contribution stops once you are entitled to withdraw at the lock-in age, which is why workers can lose it at 65.
  • Government Contribution. 25 cents per dollar you contribute, up to $260.72 a year, if your taxable income is $180,000 or less.

The promises side by side

PartyEmployee rateEmployer rateWho must take part
LabourDefault 4%, minimum removed6% by 2032Employers, from 1 July 2028
National6% by 20326% by 2032All workers, from 1 July 2028
ACTNo change proposedNo change proposedNobody new: “your choice”
NZ First8%, then 10% (see below)8%, then 10% (see below)Wider workforce; birth enrolment
GreensNo published policy found as of 5 Nov 2026SameSame
Te Pāti MāoriNo published policy found as of 5 Nov 2026SameSame
Opportunity6% in a separate scheme6% in a separate schemeAll eligible workers

Labour (13 September 2026)

Labour says employer contributions “become compulsory from 1 July 2028, including when an employee reduces or pauses their own contributions, and will lift to 6% by 2032”. The employee default would be 4%, the same rate current law reaches in April 2028, with the minimum rate removed. Labour has not published the year-by-year steps to 6%, or how low an employee could go.

It would also extend employer contributions to workers over 65 from 1 July 2028, add a contribution during paid parental leave, ban new total remuneration contracts that absorb the employer contribution into salary, and “explore” options for self-employed people.

National (21 June 2026)

National would keep the April 2028 rise to 4%, then lift default rates 0.5 points each year until “1 April 2032, when employee and employer contribution rates reach 6%”. From 1 July 2028 contributions to KiwiSaver or an equivalent scheme would be compulsory for all workers. Exceptions include people already in an employer defined-contribution scheme. A suspension would need the existing hardship test, which ends the no-reason pause available today. Self-employed people would pay the employee share only, 4% from 1 July 2028.

From 1 July 2027 National also promises automatic enrolment at birth with a $1,500 Baby Boost, a Government contribution during paid parental leave even if the parent is not contributing, and employer contributions for contributing members over 65.

ACT (4 and 11 October 2026)

ACT proposes no change to contribution rates and no compulsion: “ACT says it should be your choice”. Its change is to tax. It would remove tax on qualifying investment earnings inside KiwiSaver funds and end the Government Contribution for members who receive employer contributions. Who gains depends on your balance and PIR, and ACT’s policy explained works through the break-even points.

New Zealand First (September 2025, restated 2026)

NZ First’s birth-enrolment page promises “compulsory KiwiSaver enrolment for the wider workforce and increasing employee and employer contributions to 8% initially and eventually to 10%”. Its September 2025 speech worded this as “in total, at first 8%, then later to 10%”, with tax cuts to cover the increases. Neither says plainly whether the figures are per side or combined, and combined 8% is what current law already reaches in 2028. No start dates are published.

It also promises compulsory enrolment at birth with a $1,000 Crown contribution, for New Zealand citizens only. More in NZ First’s policy explained.

The Greens

No published KiwiSaver policy found as of 5 November 2026, in the party’s manifesto, tax policy or policy pages. It has made statements in press releases: lifting employer contributions in Budget 2025 “was the right thing to do” (8 June), and “KiwiSaver should be extra savings on top of NZ Super” (22 October). Those are not proposals, and its tax plan does not mention KiwiSaver.

Te Pāti Māori

No published KiwiSaver policy found as of 5 November 2026, in the party’s tax manifesto or the policy documents linked from its policy page.

Opportunity (May 2026)

Opportunity proposes KiwiSaver 2.0, a new compulsory scheme replacing NZ Super over time, at “6% employer contribution and 6% employee contribution”. Today’s KiwiSaver would stay as a voluntary extra. KiwiSaver 2.0 could not be withdrawn for hardship or a first-home deposit. Contributions would become exempt from income tax. Its transition plan starts “only after two years”, and its documents word the pace differently: 0.5 points a year per side in the policy, 1% a year in the plan. See Opportunity’s Tax Reset explained.

What it could mean in dollars

This is an illustration we calculated from each party’s stated final rates. It is not a forecast and no party published it. It uses median weekly earnings of $1,419 (Stats NZ, June 2026 quarter), annualised to $73,788 and held flat, on the default rate. Employer contributions are taxed before they reach your fund: employer superannuation contribution tax (ESCT) is 30% at this pay, so a 6% employer rate does not put 6% in your account.

At the stated final rateYou payEmployer paysAfter 30% ESCTInto your fund
Current law from April 2028 (4% / 4%)$2,952$2,952$2,066$5,018
Labour by 2032 (4% / 6%)$2,952$4,427$3,099$6,051
National by 2032 (6% / 6%)$4,427$4,427$3,099$7,526

Each row excludes returns and the Government Contribution. Against current law, National’s employee rate would take $1,476 more a year from this person’s pay, about $28 a week, while Labour’s default would take the same as current law.

Three policies do not fit this table. ACT’s contributions match the first row, with the difference at fund level instead. NZ First’s 10% would mean $3,689 a side if combined and $7,379 a side if per side. Opportunity’s figures sit inside a package that also changes income tax rates, so a row here would mislead.

None of the documents settles who finally bears a higher employer contribution, since it can feed into later pay rounds.

What to do with this

Nothing above changes your rate on election day. How a promise becomes tax law, and when each party’s dates fall explains what to watch for afterwards. To see your own numbers under today’s rules, use the KiwiSaver calculator.

Frequently asked questions

Do I need to change my KiwiSaver before or after the election?

The election does not change your KiwiSaver. The 3.5% default and employer minimum stay in force, and the scheduled rise to 4% on 1 April 2028 stays in the Act, until Parliament passes something different.

Which parties would make KiwiSaver compulsory?

National (all workers from 1 July 2028, with exceptions), New Zealand First (the wider workforce, no date published) and Opportunity (all eligible workers, in a separate KiwiSaver 2.0). Labour would make employer contributions compulsory from 1 July 2028 and leave employees able to reduce or pause their own. ACT says it should be your choice.

What do the Greens and Te Pāti Māori propose?

As of 5 November 2026 we found no published KiwiSaver policy from either party. The Greens' manifesto, tax policy and policy pages, and Te Pāti Māori's tax manifesto and policy documents, contain no KiwiSaver proposal.

Primary sources

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