Average KiwiSaver Balance by Age and Strategies to Grow

Your KiwiSaver balance is one way to compare your wealth and savings progress with other New Zealanders. After all, over 3 million people are enrolled, which is a high percentage of the country’s working population.

To help you compare, we’ve combed through Melville Jessup Weaver’s (MJW) KiwiSaver Demographic Study released in March 2026 and based on data as at 31 December 2025. Then we’ve explored age-appropriate strategies and tips to help you grow your KiwiSaver balance (and maybe beat the average).

Before you read on, remember - these numbers are interesting, but the only person you should compare yourself to is you. KiwiSaver is all about growing your wealth and improving your life, so as long as you’re moving forward, it doesn’t matter what other people have.

Source: KiwiSaver Demographic Study, MJW (March 2026). Data as at 31 December 2025.

From the ages of 0-17, KiwiSaver balances are typically low, for obvious reasons. But believe it or not, this is a key period for your KiwiSaver balance - even small contributions this early on can have a huge effect on your balance later in life. This is because compounding needs time to work its magic - the longer you give it, the more powerful it is (and the faster your wealth grows).

With this in mind, parents may want to start their children’s KiwiSaver when they’re very young and contribute regularly. It’s also a great idea to encourage kids to contribute themselves with pocket money or as soon as they get a job, to help teach good habits early (and get that balance increasing).

With the recent KiwiSaver changes, your employer isn’t required to contribute to your KiwiSaver balance until you turn 16, but it’s worth trying to negotiate a contribution if you are under 16 and working.

At this life stage, for most investors, you could consider looking at high-growth options for your KiwiSaver investments. That’s because you generally won’t be withdrawing your balance for many years and you’ve got plenty of time to ride out the ups and downs typically associated with growth funds.

Read more about saving and investing for children

Most Kiwis start to work in some capacity during this period, whether that’s part-time while studying, as a trade apprentice, or in a full-time role straight out of school. At this stage, it’s essential to take a look at your settings for both your KiwiSaver contributions and your employers’.

The MJW study found that 76.7% of KiwiSaver members aged 18–25 made a contribution during 2025. That means regular contributions are already common at this age - but reviewing your contribution rate, fund choice and long-term goals can still make a meaningful difference over several decades.

You can choose to contribute 3.5%, 4%, 6%, 8% and 10%, and, if you can afford it, the more, the better. Your employer needs to contribute a minimum of 3.5%, but it’s a good idea to try and negotiate more if you can.

Unless you’re planning to use your KiwiSaver balance to buy a house in the short-term, you could consider high-growth options at this age. Now is also a great time to start setting some financial goals, then review them every year to track your progress. It’s never too early to start planning for retirement or buying a house.

Read more about setting, and prioritising financial goals

• 26-30: $21,308

• 31-35: $26,231

• 36-40: $33,070

The average age of first-home buyers in major NZ cities is between 35 and 37, depending on where you live, according to a Westpac-Cotality report (Auckland is 37, Wellington 36, Christchurch 35).

That means most Kiwi first-home buyers will start planning and saving during this stage of life. If you’re planning to use your KiwiSaver balance, it’s a good idea to read up on the rules around withdrawals. Most importantly, you must:

• Be in KiwiSaver for more than three years before you can withdraw.
• Leave $1,000 in your account.
• Be buying a home or land in NZ that you intend to live in.
• Have not made a first-home withdrawal before.

To withdraw, you’ll need to apply with your KiwiSaver provider - it’s best to do this far in advance of needing a withdrawal to make sure you have the funds in time.

If you’re planning to buy in the near future, it’s a good idea to start thinking about what type of fund is right for your investment horizon.

High-growth funds tend to be more volatile, so if you’re going to buy soon, there’s a risk your balance could drop just before you withdraw. Cash or conservative funds might be an option as these funds tend to be less volatile.

Read more about investment horizons

• 41-45: $43,187

• 46-50: $55,010

• 51-55: $65,873

Most Kiwis reach their earning peak in their late 40s and early 50s, with a median, annual income of $81,900 per year*. Lots of this may go towards servicing debt like a mortgage, but if you can, it’s usually a good idea to continue your KiwiSaver contributions. After all, the same percentage of a larger salary will be a larger amount.

Contribution rates also rise through these years: 71.5% for those aged 41–45, 75.1% for those aged 46–50 and 77.2% for those aged 51–55. This makes sense: retirement may feel more immediate, while incomes may be higher than earlier in a career.

At this age, most Kiwis are at least 10 years away from retirement. If you’ve got 7-10 years or more, depending on your situation, you might consider staying in a high-growth fund during this period if you have time to ride out the ups and downs associated with returns of high-growth funds.

*Source: Moneyhub: Average NZ Salaries by Age 2025, updated 11 January 2026.

• 56-60: $72,861

• 61-65: $77,927

By your late 50s, you may find your career has plateaued or your priorities have shifted toward work-life balance. This phase is less about the climb and more about consolidation. With your highest earning years often behind you or levelling off, the goal is to ensure your KiwiSaver balance is working as hard as you are.

It’s also a time for a reality check. Around 44% of Kiwis aged 65-69 still have jobs, according to Te Ara Ahunga Ora (the Retirement Commission). While some work because they want to, many do so because they need to. If you want work to be optional at 65, now is the time to take a close look at your trajectory.

Actionable steps for this stage:

• Know your number: Use the Sorted Retirement Calculator to get an idea about how much you’ll actually need to retire.
• Bridge the gap: If there’s a shortfall, consider upping your KiwiSaver contributions or looking at other investments. For some, this stage might also involve planning for future moves, like downsizing the family home once it becomes an "empty nest."
• Review your "glide path": This is the plan for how you’ll transition from growth assets like shares to more conservative assets like cash and bonds. If you’re nearing the age when you’ll need to start withdrawing, it’s worth considering putting a portion into more conservative funds.

However, remember that if you plan to keep working or don't need your full balance at 65, you may still have a 10+ year investment horizon. Don’t be too quick to "de-risk" your entire portfolio if you want a portion of your wealth to keep growing for your 70s and 80s.

You’ve reached retirement age, and you’re officially eligible for NZ Super - woohoo! But KiwiSaver does not necessarily stop being useful at 65. The MJW study found approximately 206,000 members aged over 65. While contribution rates fall after age 65, 59.7% of 66–70-year-olds still made a contribution during 2025. Suggesting that many New Zealanders continue to use KiwiSaver as part of their retirement investment strategy.

If you’re still working, you can continue to contribute to your KiwiSaver investment, but government contributions will stop, employer contributions are now optional, and you’ll be able to make withdrawals at any time (It’s worth asking your employer if they’ll continue making contributions during this time).

• 66-70: $72,503

• 71-75: $72,114

• 76-80: $73,530

• 81-85: $85,553

• 86+: $194,276

The average balance decreases above age 66 to 75 now that people have access to withdraw their KiwiSaver for retirement.

The way you invest may change when you reach this age bracket. It’s worth considering that most retirees spend a bit more in their earlier years from 65-75, then spending decreases as they enter their 80s.

Many retirees choose to split up their nest eggs. For example, you might put funds you’ll need to cover living costs in the next few years into more conservative funds, then funds for the later years in something higher growth. Whatever you do, your strategy must suit your lifestyle, your circumstances, and your life stage.

Across all ages, members who contributed had an average balance of $50,727, compared with $19,553 for non-contributing members. This does not prove contributions alone caused the difference, but it reinforces the value of consistently reviewing whether your contribution settings and your choice of fund still suit your circumstances. 

It’s never too early to start planning. Every Kiwi should look at how much they’ll need to retire or buy a first home, and adjust their KiwiSaver account to suit as soon as possible - whatever their age.

After all, starting early gives compounding time to work its magic - and with a little bit of planning, you’ll be well on your way to home ownership and/or a comfortable retirement.

Read more about making the most of your KiwiSaver

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds Scheme. Product Disclosure Statements for the Kernel KiwiSaver Plan and Kernel Funds Scheme are available at Kernel Wealth | Resources & Documents. Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time. The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.