Budget 2025 introduces KiwiSaver changes and business tax relief

Thursday 22 May 2025 · 6 outlets · 10 reports · updated Thu 22 May 2025, 7:25pm

In this story Nicola Willis

Finance Minister Nicola Willis has announced Budget 2025, which includes increasing default KiwiSaver contribution rates to 4%. The government will halve its own contributions and introduce means testing, including a cap for those earning over $180,000. The changes, which take effect in July, also extend contributions to employed 16 and 17-year-olds.

How they headlined it

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1. NZ HeraldThu 22 May 2025, 2:00pm

   Budget 2025: Willis delivers ‘true blue’ Budget with KiwiSaver changes and business tax relief (opens in new tab)

2. 1NewsThu 22 May 2025, 2:00pm

   Budget 2025: What you need to know (opens in new tab)

   • What will the Govt's big KiwiSaver changes mean for you? (opens in new tab) Thu 22 May 2025, 2:01pm
3. StuffThu 22 May 2025, 2:03pm

   Budget 2025: Government slashes KiwiSaver contributions, default rate climbs to 4% (opens in new tab)

   • Have your say: What do you think of Budget 2025? (opens in new tab) Thu 22 May 2025, 2:55pm
4. The Press via The PostThu 22 May 2025, 2:05pm

   Budget 2025: ‘Growth’ Budget to hike KiwiSaver contribution, offer $6.6b in business tax breaks (opens in new tab)

5. Otago Daily TimesThu 22 May 2025, 2:36pm

   Budget KiwiSaver changes: What you need to know (opens in new tab)

   • What will KiwiSaver changes mean for your balance? (opens in new tab) Thu 22 May 2025, 7:25pm
6. RNZThu 22 May 2025, 2:43pm

   Budget 2025: KiwiSaver is changing - what you need to know (opens in new tab)

   • Budget 2025: What will KiwiSaver changes mean for your balance? (opens in new tab) Thu 22 May 2025, 3:58pm