Retirement Commission Lays Out Plan to Strengthen New Zealand's Retirement Income System

On November 14, 2025, the Te Ara Ahunga Ora Retirement Commission launched its 2025 Review of Retirement Income Policies, reflecting the voices of older New Zealanders, the insights of experts, and the values that underpin the retirement income system.

The review recognizes that New Zealand's population is aging, work and caregiving patterns are shifting, home ownership is declining, and KiwiSaver is maturing. To address these challenges, the Retirement Commissioner is calling for cross-party action and a long-term political accord to provide certainty for future generations of retirees.

The review makes 12 recommendations to the government, including targeted policy reforms to address pressing gaps, particularly for groups who have historically missed out or faced barriers. This includes extending the government's KiwiSaver parental leave contribution to $1,000 per parental leave period, regardless of whether the member makes contributions, and increasing KiwiSaver government contributions to those on low incomes.

The review also calls for the removal of unnecessary KiwiSaver exclusions for people aged over 65 and those on temporary work visas, to better reflect the diversity of New Zealand's workforce and align with international best practices.

The Retirement Commissioner emphasizes that these actions are designed to improve adequacy, close savings gaps, and ensure the retirement income system remains fair, sustainable, and trusted. The review also recognizes the need for stronger stewardship and a more joined-up approach to managing the retirement income system as a whole, including building cross-party consensus and developing a long-term roadmap for the next decade and beyond.