KiwiSaver Growth by Age

Staircase Financial
Feb 28
2 min read

Updated: Jul 26

For many first-time home buyers, KiwiSaver’s first-home withdrawal option enables them to access a portion of their funds to contribute towards a deposit, which can be a powerful tool for retirement.

Since its launch in 2007, KiwiSaver growth has made it a pivotal financial asset for many New Zealanders. Today, approximately $110.8 billion is invested in the scheme. The average balance stands at $31,828, though this figure is impacted by the high number of non-contributing members.

How Much Should Your KiwiSaver Balance Be at Your Age?

According to data from Melville Jessup Weaver for December 2023, the average KiwiSaver balance increases progressively with age:

Under 17 years: Average balance of $2,869
18 to 25 years: Average balance of $8,867
26 to 30 years: Average balance of $17,326
31 to 35 years: Average balance of $21,096
36 to 40 years: Average balance of $26,829 (often coinciding with first-home withdrawals)
41 to 45 years: Average balance of $34,741
46 to 50 years: Average balance of $43,600
51 to 55 years: Average balance of $50,446
56 to 60 years: Average balance of $55,632
61 to 65 years: Average balance of just under $60,000

Dean Anderson, founder of Kernel KiwiSaver, highlights that comparing balances can be complex due to individual circumstances. “You might find yourself with a lower balance and need to build it up again. The averages are helpful but don't fully capture individual situations, especially if you’ve had periods of lower income or have been a stay-at-home parent.”

What to Do with Your KiwiSaver

As Sam Stubbs from Simplicity KiwiSaver advises, “The earlier you start, the easier it gets.” Dean Anderson from Kernel KiwiSaver adds, “It’s about the longevity … the biggest question is whether KiwiSaver can sustain the length of time you’ll need income in retirement.”

Staircase Financial offers a comprehensive strategy to financial freedom and a wealthier future. Get in touch with us if you want to discuss your finances in addition to your Kiwisaver and plan for the future.

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