{"id":693638,"date":"2026-05-25T23:51:12","date_gmt":"2026-05-25T23:51:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/693638\/"},"modified":"2026-05-25T23:51:12","modified_gmt":"2026-05-25T23:51:12","slug":"the-average-kiwisaver-balance-for-your-age-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/693638\/","title":{"rendered":"The average KiwiSaver balance for your age"},"content":{"rendered":"

\"Two<\/p>\n

\nMany people on low incomes will need NZ Super to help them get by in retirement, the Retirement Commission says.
\nPhoto: Supplied\/ Unsplash – Matt Bennett\n<\/p>\n

KiwiSaver balances have lifted<\/a> but many people on low incomes will need NZ Super to fill the gaps, and help them get by in retirement, the Retirement Commission says.<\/p>\n

It has released new data showing the average balance across age brackets and genders.<\/p>\n

Average balances range from $3512 for those under 17 to $194,276 for those aged 86-plus. although the latter is skewed by a smaller number of investors in that age bracket.<\/p>\n

The average balance across all members is now $41,286, up 11.3 percent from 2024. Men’s average is $47,452 and women’s $38,212.<\/p>\n

Average balances increase with age, and men have higher averages at every level except among the oldest KiwiSaver members.<\/p>\n

While a third of KiwiSaver members have less than $10,000 in their accounts, the number with larger balances is growing.<\/p>\n

There are almost 450,000 members with more than $80,000, about 15 percent of all members.<\/p>\n

Overall, 70 percent of members are contributing to KiwiSaver, and about 90 percent of those who are employed and earning more than $50,000 a year.<\/p>\n

Michelle Reyers, policy lead at Te Ara Ahunga Ora, the Retirement Commission, said the data showed the scheme was delivering strong results for many people<\/a>, but also showed where more support was needed.<\/p>\n

“People on lower incomes, those working part-time or those moving in and out of paid work are much less likely to contribute and their KiwiSaver balances at age 65 reflect those reduced contributions.”<\/p>\n

She said that would be the case with any scheme linked to workplaces and incomes.<\/p>\n

“We’re generally going to see those inequities being reflected in retirement savings, which speaks a lot to the importance of NZ Super within our retirement income system, because that doesn’t penalise people for lower incomes or time out of paid work … it draws attention to the retirement income system as a whole rather than just KiwiSaver.”<\/p>\n

She said the scheme had another 20 years to run before it reached full maturity, and the trend in balances was going in the right direction.<\/p>\n

“We’ve seen a doubling in the percentage of people who now have balances over $80,000. We’ve seen the number of balances under $10,000 shrinking. Those are positive signs of a scheme that is maturing as we head for the 20th year of it next year.”<\/p>\n

Reyers said, with the planned increase in default contribution rates to 4 percent plus 4 percent, it put people on a path to having adequate retirement income.<\/p>\n

“When we keep in account that NZ Super is part of that retirement income picture, as well, we’re on the right track and these are positive signs, that we’re seeing in the data.”<\/p>\n

She said the gender gap in balances highlighted workplace inequities.<\/p>\n

“Women are actually slightly more likely to contribute to KiwiSaver. In other work that we’ve done, they contribute the same percentage of their salary into KiwiSaver as well \u2026 they’re doing everything right, but the gender pay gap, time out of paid work, all of those things are reflected in these gender retirement savings gaps.”<\/p>\n

Reyers said the commission would like to see work put into how the system could help lessen the impact of contribution interruptions, such as during paid parental leave.<\/p>\n

“If you on paid parental leave and you continue your contributions, the government steps into the shoes of the employer and will contribute. But if you don’t contribute anything, then nothing goes in at all. We would prefer that everyone who’s on paid parental leave gets those KiwiSaver contributions.”<\/p>\n

She said the government incentives in the scheme could also better target low-income earners. “That’s where a difference can be made. Those are people who are less likely to contribute and whose eventual retirement balance really depends much more on the government contribution than for a higher income earner.”<\/p>\n

The data showed a 24 percent average gap between men and women across all ages, and a 36 percent gap among those aged 56 to 65.<\/p>\n

About 206,000 people in KiwiSaver are aged over 65 and seemed to be using KiwiSaver as an investment vehicle in retirement, up from 190,000 last year.<\/p>\n

Sign up for Money with Susan Edmunds<\/a>, a weekly newsletter covering all the things that affect how we make, spend and invest money.<\/p>\n","protected":false},"excerpt":{"rendered":"Many people on low incomes will need NZ Super to help them get by in retirement, the Retirement…\n","protected":false},"author":2,"featured_media":521264,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[328,45,49,48,327,133,44,131,132,329,326,324,325],"class_list":["post-693638","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-audio","tag-business","tag-ca","tag-canada","tag-current-affairs","tag-finance","tag-news","tag-personal-finance","tag-personalfinance","tag-podcasts","tag-public-radio","tag-radio-new-zealand","tag-rnz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/693638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=693638"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/693638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/521264"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=693638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=693638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=693638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}