Top KiwiSaver Balances by Region: Which Area Leads?

KiwiSaver Balances Reveal Growing Wealth gap Across New Zealand

Wellington, New Zealand – A new analysis of KiwiSaver account balances indicates a significant difference in retirement savings based on location, with Wellingtonians holding significantly more than those in other parts of the country. The findings, stemming from data provided by New Zealand’s largest KiwiSaver provider, point to a potential exacerbation of existing income inequalities through the scheme.

Regional Disparities in Retirement Savings

The data shows that ANZ KiwiSaver members in Wellington have an average balance of $44,863, leading the nation. Taranaki follows closely behind with an average of $40,562. However, Northland and Gisborne lag considerably, with average balances of $33,830 and $33,673 respectively – over $10,000 less than Wellington.

Fiona Mackenzie, Managing Director of ANZ Funds management, highlighted the concern that KiwiSaver may be reinforcing pre-existing economic disparities. Individuals with lower lifetime earnings are likely to accumulate smaller KiwiSaver balances, creating a cycle of inequality. According to government data from last year, Wellington’s average household income stands at $162,400, while Northland and Gisborne average $123,900 and $133,200, respectively.

“Our hypothesis is that income variation is the biggest driver,” Mackenzie stated. “I genuinely have a concern that KiwiSaver is amplifying existing inequality… whether it’s gender pay gaps or ethnic pay gaps… all of that gets amplified because KiwiSaver is anchored effectively to PAYE incomes.”

Region	Average KiwiSaver Balance (NZD)	Average Household Income (NZD)
Wellington	$44,863	$162,400
taranaki	$40,562	Data Not Available
Northland	$33,830	$123,900
Gisborne	$33,673	$133,200

Mackenzie expressed concerns that after 18 years, the scheme isn’t fully on track to guarantee comfortable retirements for all New Zealanders. She noted that while KiwiSaver boasts high uptake, a significant portion of the population may not be adequately prepared for retirement if current trends continue.

Contribution Rates and Government support

Interestingly, South Islanders demonstrate the highest levels of active saving. In Marlborough, Otago, Southland, and Canterbury, 70% of KiwiSaver members are actively contributing, compared to 60% in Auckland and Northland. This is partly attributable to higher rates of government contributions in these regions, especially among those earning above the $1,042 annual threshold required for full benefits.

Mackenzie emphasized the importance of maximizing government contributions, especially for lower-income earners, as a crucial step towards building retirement security. She also pointed to potential differences in financial literacy and economic conditions contributing to these regional differences. “it reflects New Zealand’s two-speed economy,” she explained.

Nationwide, 40% of KiwiSaver members are not regularly contributing, highlighting a significant area for advancement. However, contribution rates have remained relatively stable despite the recent economic downturn, a positive sign, according to Mackenzie.

Understanding KiwiSaver and Retirement Planning

KiwiSaver is a voluntary, work-based savings scheme designed to help New Zealanders build a nest egg for retirement. Contributions are made through regular deductions from an individual’s pay, with potential employer and government contributions adding to the fund. The scheme offers various investment options, ranging from conservative to aggressive, allowing individuals to tailor their investments to their risk tolerance and time horizon. Regularly reviewing your KiwiSaver contributions and investment strategy is vital to ensure alignment with your retirement goals.

Sorted provides comprehensive resources for understanding KiwiSaver and retirement planning in new Zealand.

Did You Know? The government contributes up to $521.43 per year to a KiwiSaver account if you contribute at least $1,042.86.

Pro Tip: Even small, consistent contributions to kiwisaver can make a substantial difference over the long term due to the power of compounding.

Frequently Asked Questions about KiwiSaver

• What is KiwiSaver? KiwiSaver is a voluntary retirement savings scheme in New Zealand, designed to help peopel save for their future.
• How does income affect my KiwiSaver balance? Higher income earners generally contribute more to kiwisaver, resulting in larger balances over time.
• what is the government contribution to KiwiSaver? The government matches employee contributions up to a certain amount each year.
• Can I access my kiwisaver funds before retirement? Access to KiwiSaver funds is restricted, but there are certain qualifying circumstances, such as purchasing a first home.
• How can I improve my KiwiSaver balance? Increasing your contribution rate,choosing a suitable investment fund,and maximizing government contributions can all help.

Are you concerned about the regional disparities in KiwiSaver balances? What steps can be taken to ensure a more equitable retirement system for all New Zealanders?

What is the average KiwiSaver balance in Auckland as of Q3 2025?

Regional Breakdown of KiwiSaver Growth

understanding where KiwiSaver balances are highest across New Zealand can offer valuable insights into regional economic factors, demographics, and investment behaviours. While nationwide data provides a broad overview, pinpointing regional leaders helps individuals benchmark their own progress and potentially adjust their KiwiSaver strategy.This article dives into the latest data (as of Q3 2025) to reveal which regions are boasting the highest average KiwiSaver balances.

Auckland: Still the Frontrunner?

For years, Auckland has consistently held the top spot for average KiwiSaver balance. This is largely attributed to:

Higher Property Values: Auckland’s substantially higher house prices often translate to larger KiwiSaver contributions through first home purchases.

Concentration of High-Income Earners: A greater proportion of high-income earners reside in Auckland, leading to increased contributions and potential investment gains.

Longer Employment Tenure: Auckland’s job market, while competitive, often sees longer periods of employment, fostering consistent KiwiSaver contributions.

As of Q3 2025, the average KiwiSaver balance in Auckland sits at $28,500. However, growth has slowed slightly compared to previous years, potentially indicating a shift in market dynamics.

Canterbury: A Rising Star in KiwiSaver Performance

Canterbury has emerged as a strong contender, experiencing significant KiwiSaver balance growth in recent years. This can be linked to:

Post-Earthquake Rebuild: The ongoing rebuild following the 2011 earthquakes has created numerous employment opportunities and stimulated economic activity.

Diversified Economy: Canterbury’s economy is less reliant on a single industry compared to some other regions, providing greater stability.

affordable Housing (Relative to Auckland): While property prices have increased,Canterbury remains more affordable than Auckland,encouraging homeownership and KiwiSaver withdrawals for first home purchases.

The average KiwiSaver balance in Canterbury is now $24,200, closing the gap with Auckland.

Wellington: Steady Growth and Strategic Investment

Wellington consistently demonstrates solid KiwiSaver performance, driven by:

Stable Government Employment: A notable portion of Wellington’s workforce is employed in the public sector, offering job security and consistent contributions.

high Educational Attainment: Wellington boasts a highly educated population, frequently enough leading to informed investment decisions.

Strong Financial Services Sector: The presence of a robust financial services sector fosters financial literacy and access to professional advice.

Currently, the average KiwiSaver balance in Wellington is $23,800.

Other Regions: Notable Trends

Bay of Plenty: Benefiting from tourism and horticulture, the Bay of Plenty shows a growing average KiwiSaver balance of $21,500.

Otago: Driven by tourism and a strong university presence, Otago’s average KiwiSaver balance is $20,900.

Hawke’s Bay: The region’s thriving wine industry and increasing property values contribute to an average KiwiSaver balance of $19,700.

* Southland: While traditionally lower, Southland is experiencing growth due to increased investment in agriculture and renewable energy, with an average balance of $18,300.

Factors Influencing Regional KiwiSaver Balances

Several key factors contribute to the disparities in KiwiSaver balances across regions:

1. Age Demographics: Regions with a higher proportion of older residents generally have larger KiwiSaver balances due to longer contribution periods.
2. Income Levels: Higher average incomes directly translate to larger contributions and potential investment gains.
3. Housing Affordability: Regions with more affordable housing encourage homeownership and KiwiSaver withdrawals for first home purchases, impacting overall average balances.
4. Employment Opportunities: Stable