Make KiwiSaver compulsory for all workers, with a $1,500 Baby Boost at birth
Pitched as building bigger retirement savings and more financial security for New Zealanders, from birth to retirement.
π National: Enhancing KiwiSaver for Everyone, June 2026 β
What it does
- From 1 July 2028, everyone in work would have to contribute to KiwiSaver or an equivalent scheme at the default rate. National has pledged to lift default rates to 6 percent each for employers and employees, 12 percent combined, by 2032.
- Self-employed people would contribute only the employee share, 4 percent of income, and contributions could be paused only by meeting the existing hardship test used for early withdrawals.
- From 1 July 2027, every baby born in New Zealand would be enrolled at birth and receive a $1,500 Government Baby Boost payment.
- From 1 July 2027, the Government would pay KiwiSaver contributions for parents on paid parental leave even if they are not contributing, and employers would have to keep contributing for staff over 65.
- RNZ reported National's costings at $110 million in 2027/28, rising to $361 million in 2030/31, more than $1 billion over four years, funded from Budget operating allowances.
The debate
Christopher Luxon said a more uncertain world calls for higher savings and greater financial resilience, which compulsory KiwiSaver would help deliver. NZ First leader Winston Peters said National was copying his party's KiwiSaver policy. ACT leader David Seymour backed helping parents save but questioned lifting compulsory contributions to 12 percent, asking where the money would come from. Labour leader Chris Hipkins said he supports increased contributions but that National could not be trusted with KiwiSaver.
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Key milestones
National announces compulsory KiwiSaver and a Baby Boost
Christopher Luxon announced that a re-elected National Government would make KiwiSaver compulsory for all workers from 1 July 2028. From 1 July 2027 it would enrol newborns with a $1,500 Baby Boost, pay contributions for parents on paid parental leave and require employers to contribute for workers over 65.
Costed at more than $1 billion over four years
RNZ reported the changes would cost $110 million in 2027/28, rising to $361 million in 2030/31, funded from operating allowances. Winston Peters said National was copying NZ First, David Seymour asked where the money would come from, and Chris Hipkins said National could not be trusted with KiwiSaver.
First item in National's 100-day plan
National's 100-day plan lists introducing its KiwiSaver changes to Parliament as the first action of a re-elected National Government.
Sources
- National: Enhancing KiwiSaver for Everyone (policy page) β
- National to further boost Kiwis' financial security (National Party, 21 Jun 2026) β
- National to make KiwiSaver compulsory, if elected (RNZ, 21 Jun 2026) β
- National's 100 Day Plan to secure our future (National Party, 25 Oct 2026) β
- KiwiSaver fund finder (Sorted, Retirement Commission) β