Smart Strategies to Grow Your KiwiSaver Savings in 2025
New year, new you – it's all about starting fresh for 2025. As we settle back into routines after the holiday break, many of us will be setting goals and working out what needs to be done to ensure a positive year.
If your 2025 goals involve financial success it's a no-brainer to consider your KiwiSaver account as part of this! Your KiwiSaver investment shouldn’t always follow a “set and forget” strategy – in fact, we recommend checking in on your account setup every year, or sooner if your employment situation or savings goals change.
Making minor tweaks to your KiwiSaver account now could have a big impact on your long-term savings – and reviewing your account is quick and easy!
First – use our handy KiwiSaver Calculator and see how much money is currently on track in your KiwiSaver account at the time you'll access it.
Here are a few excellent ways to help boost your projected balance!
1- Bumping up your KiwiSaver contributions.
If you are employed and contribute to your account via your wages or salary, you might be contributing 3%, 4%, 6%, 8% or 10% of your income to your KiwiSaver account. While the difference between these percentages doesn't seem like much, increasing your contribution by just 2 or 3% could make a massive difference to your savings over the long term. This is all thanks to the power of compounding returns over time.
To see the difference a percentage point (or more) could make to your KiwiSaver retirement savings, simply adjust your contribution rate in our super-easy KiwiSaver calculator.
If you are self-employed or unemployed your contributions are completely up to you. It's a great idea to set a budget or talk to a financial adviser to see how much money you can afford to contribute to your KiwiSaver account.
2-Check that your KiwiSaver fund type suits your goals.
If your 2025 KiwiSaver goal is to save for a comfortable retirement and that’s still at least 10 years away, a fund focused on growth assets could be a good option for you. At Generate we currently have two fund options in this category, our Growth Fund and our Focused Growth fund. These funds have the potential to earn more over the long term, but they could experience more ups and downs along the way, which is why they’re generally recommended for those with a long-term savings goal, rather than someone who plans to withdraw their money soon.
If you do intend to use your KiwiSaver savings soon – perhaps for your first house or if you’ll reach retirement in the next few years, then our Conservative or Defensive Funds could be more appropriate, as these funds are generally more stable in the short-term.
Depending on your savings goals and investment timeframe, it might be worth changing your current KiwiSaver fund type. We recommend talking to a KiwiSaver adviser before changing your fund type, as in some situations there are good reasons not to change your fund type.
For a no-obligation chat with a Generate KiwiSaver Adviser, call us on 0800 855 322.
3- Don’t miss out on the extra $500+ from the Government.
In 2025, like every year, KiwiSaver members between 18 and 65 years old can get an extra $521.43 from the Government. To be eligible, you need to contribute at least $1,042.86 to your KiwiSaver account between July 1 2024 and June 30 2025.
Download the Generate app or log in to your Generate account online to see how much you’ve contributed since the 1st of July 2024 and make sure you’re on track for this money!
Eligibility does apply - read more here: https://www.generatewealth.co.nz/kiwisaver/government-contributions
4- Don’t underestimate the value of advice.
Expertise can truly be invaluable and a quick chat can be just what you need to get 2025 off to a great start. Research shows that getting financial advice adds long-term value to your savings.
More than two thirds of advised New Zealanders say that advice has led to outcomes such as a better understanding of the risks of their financial plan (77%) and a better understanding of how to achieve their financial goals (74%). They also report they are better equipped to actually stick to these financial plans (70%)^.
Our KiwiSaver advisers take pride in providing simple, straightforward KiwiSaver advice to help Kiwis make smart investment choices. We have advisers from all across Ne Zealand who are here to help you with your KiwiSaver savings goals for 2025. Get in touch to talk with one today.
Sort your KiwiSaver account goals for 2025 - simply contact us on 0800 855 322 or email us at info@generatekiwisaver.co.nz.