Articles tagged with Kiwisaver
KiwiSaver Contribution Increase Boosts Retirement Savings for 1.8 Million Kiwis
4 days ago | 107 viewsNearly 99.5% of KiwiSaver contributors have accepted the increased default contribution rate from 3% to 3.5%, enhancing their retirement savings and financial security. This change affects about 1.8 million employees, with contributions rising from 6% to 7% of wages when including employer matches, and will increase further in 2028. The higher contributions are projected to significantly boost retirement funds, helping young New Zealanders both in retirement and in purchasing their first homes.
Tags: KiwiSaver Nicola Willis New Zealand retirement contribution rates financial security superannuation wages property ladder employee deductions$2.1B Mahere Pūtea 2026: Whakawhanake Mātauranga Kura Tuarua Aotearoa
3 weeks ago | 246 viewsThe 2026 Budget allocates $2.1 billion to continue building a world-leading education system in New Zealand, focusing on enhancing secondary curriculum development, professional learning for teachers, and expanding industry-aligned vocational pathways. Significant investments include $90 million for updating national qualifications through NZQA, $559 million for school infrastructure, and targeted funding for supporting diverse learner needs such as health, language, and special education. These initiatives build on prior reforms to improve literacy and numeracy, aiming to raise achievement, close equity gaps, and prepare students with skills aligned to the future workforce.
Tags: Erica Stanford Mahere Pūtea 2026 Mātauranga NZQA Poari Pūmanawa Ahumahi Kura Ringarehe Kiwisaver Whakaako Kairangi Te Marautanga o Aotearoa KāwanatangaNavigating New Zealand’s Future: Security, Resilience, and Prosperity in a Volatile World
1 month ago | 298 viewsThe speech addresses New Zealand’s need to adapt to a rapidly changing, multipolar world marked by shifting power dynamics, increased security threats, and challenges to the rules-based international order. It emphasizes strengthening national security through enhanced defense capabilities, energy independence, social cohesion, and fiscal responsibility, while maintaining and evolving international relationships and trade partnerships. The speaker calls for a collective effort to prepare New Zealand for future uncertainties by investing in resilience, unity, and prudent governance to secure the nation’s prosperity and values.
Tags: New Zealand Russia China United States National Party Erica Stanford Lawrence Wong Pericles KiwiSaverDavid Boyle Appointed New Retirement Commissioner to Enhance KiwiSaver and Retirement Savings
2 months ago | 398 viewsDavid Boyle has been appointed as New Zealand's Retirement Commissioner for a three-year term starting May 18, announced by Commerce and Consumer Affairs Minister Cameron Brewer. Boyle brings extensive experience in retirement savings, having played a key role in establishing KiwiSaver and previously worked on financial wellbeing initiatives and education programs at the Retirement Commission. Brewer also thanked outgoing commissioner Jane Wrightson for her six years of leadership in improving financial capability and retirement outcomes.
Tags: David Boyle Cameron Brewer Jane Wrightson KiwiSaver Retirement Commissioner Fisher Funds Stand Tū Māia Ngāi Tahu Whai Rawa Funds Play it StrangeNew Zealand Boosts Financial Support for Families, Superannuitants & Students from April
2 months ago | 624 viewsFrom 1 April, the New Zealand government will increase financial support for over a million citizens, including superannuitants, working families, students, and beneficiaries, to help offset rising living costs due to the global fuel-price surge and Middle East conflict. Key measures include increased NZ Superannuation payments, boosted family tax credits, in-work tax credits, and changes to KiwiSaver contribution rates to encourage long-term savings. The government emphasizes targeted, responsible support to manage inflation and economic growth while safeguarding New Zealand’s financial future amid global uncertainties.
Tags: Nicola Willis New Zealand Superannuitants Working Families Students Beneficiaries KiwiSaver Finance Minister FamilyBoost Jobseeker SupportGovernment Removes Barriers for Rural Workers to Use KiwiSaver for First Homes and Farms
3 months ago | 683 viewsThe Government is amending the KiwiSaver Act to allow rural workers in service tenancies, such as farm workers and rural teachers, to use their KiwiSaver funds for first home purchases without needing to live in the property. Additionally, the changes will enable first-time farm buyers to use KiwiSaver balances to buy farms through commercial entities they majority own, reflecting modern farm ownership practices. These reforms aim to remove barriers for rural communities while maintaining KiwiSaver’s core purpose, with legislation expected to be introduced mid-year.
Tags: Nicola Willis Scott Simpson Suze Redmayne KiwiSaver first home purchase farm workers rural workers KiwiSaver Act New Zealand government Rangitīkei MPNew Zealand Government Eases Climate Reporting Burden for Businesses to Boost Market Growth
8 months ago | 860 viewsCommerce and Consumer Affairs Minister Scott Simpson announces changes to support business growth and capital markets in New Zealand. The Government is adjusting climate reporting regulations to reduce costs and encourage listings on the NZX. Changes include raising the reporting threshold, adjusting liability settings, and excluding managed investment schemes. These adjustments aim to ensure robust reporting, maintain market competitiveness, and provide clearer information on investments for KiwiSaver and managed funds.
Tags: Government business growth capital markets climate reporting compliance costs Scott Simpson market capitalisation climate disclosures KiwiSaver investment Financial Markets Conduct Amendment BillGovernment Raises Probate Threshold to $40,000 for Faster Asset Access | 2025 Update
10 months ago | 1519 viewsThe Government has agreed to raise the probate threshold from $15,000 to $40,000 to make it easier and cheaper for families to access assets of deceased loved ones, according to Justice Minister Paul Goldsmith. The current threshold set in 2009 no longer reflects the value of estates, especially with KiwiSaver balances, leading to smaller estates being burdened by court costs and legal fees. The increase aims to allow executors to distribute lower-value assets more efficiently, ensuring more of the estate goes to beneficiaries, while still maintaining oversight through the High Court for higher value assets to prevent fraud or non-compliance with the deceased's wishes.
Tags: Government probate threshold assets deceased loved ones Justice Minister Paul Goldsmith KiwiSaver High Court legal fees beneficiariesKiwibank Empowered to Challenge Big Four Aussie Banks with $500M Capital Boost
10 months ago | 1431 viewsKiwibank has been authorized to enhance its competition with the dominant Australian-owned banks in New Zealand's banking sector by raising up to $500 million in capital for growth. This move is aimed at enabling Kiwibank to better compete with the big four Australian banks while preserving its New Zealand identity. The government has approved measures to ensure Kiwibank's New Zealand identity, including maintaining majority government ownership and requiring key operational aspects to remain in New Zealand.
Tags: Kiwibank Nicola Willis Finance Minister Commerce Commission New Zealand Kiwi Group Capital Māori institutions New Zealand KiwiSaver funds stock market