How do your savings compare to other New Zealanders your age? Official NZ data on household savings by age is limited, so this is hard to answer precisely. This page uses the KiwiSaver demographic study compiled for the Retirement Commissioner and Stats NZ’s household net worth statistics.
There is no current official figure for typical cash savings by age. For KiwiSaver, members aged 61 to 65 had an average balance of $77,927 at 31 December 2025, according to the KiwiSaver demographic study compiled for the Retirement Commissioner.
Average KiwiSaver Balance by Age
The most detailed figures come from the KiwiSaver demographic study that Melville Jessup Weaver (MJW) compiled for the Retirement Commissioner from aggregated provider data, as at 31 December 2025 (MJW KiwiSaver demographic study 2026). It publishes average (mean) balances, not medians:
| Age group | Members | Average KiwiSaver balance |
|---|---|---|
| 17 and under | 158,539 | $3,512 |
| 18–25 | 447,401 | $10,567 |
| 26–30 | 339,237 | $21,308 |
| 31–35 | 398,049 | $26,231 |
| 36–40 | 384,280 | $33,070 |
| 41–45 | 328,701 | $43,187 |
| 46–50 | 285,132 | $55,010 |
| 51–55 | 291,257 | $65,873 |
| 56–60 | 269,530 | $72,861 |
| 61–65 | 242,731 | $77,927 |
| 66–70 | 115,199 | $72,503 |
Across all ages the average balance is $41,286. An average is pulled up by a smaller number of large balances, and the study’s balance bands show how many members hold much less: 1,454,288 of the 3,044,926 members counted in the bands (just under half) have less than $20,000.
Non-KiwiSaver Savings — What the Data Shows
Outside of KiwiSaver, NZ households hold savings in bank accounts, term deposits, shares, property equity, and other assets. Stats NZ’s household net worth statistics for the year ended June 2024 put the median New Zealand household’s net worth at $529,000, with the rise since June 2021 largely driven by owner-occupied dwellings and other real estate. We found no current Stats NZ figure for typical cash savings by age and housing type, so this page doesn’t give one.
Savings by Age — Rules of Thumb
These multiples are illustrative rules of thumb only. They are not NZ statistics and do not come from an official source:
| Age | Savings target (multiples of annual salary) | NZD example (on $75,000 salary) |
|---|---|---|
| 25 | 0.5× | $37,500 |
| 30 | 1× | $75,000 |
| 35 | 2× | $150,000 |
| 40 | 3× | $225,000 |
| 45 | 4× | $300,000 |
| 50 | 5× | $375,000 |
| 55 | 7× | $525,000 |
| 60 | 8× | $600,000 |
| 65 | 10× | $750,000 |
These targets include KiwiSaver.
Factors That Affect Savings
Several factors can reduce how much people save:
Housing costs: Across all New Zealand households, housing costs took an average of $22.30 of every $100 of disposable income in the year ended June 2025, and average weekly rent payments were $505.50 for households paying rent. High rent leaves little to save.
Student loans: NZ student loans are interest-free while you are in New Zealand, but mandatory repayments of 12% on income over $24,128 reduce take-home pay significantly in your 20s and 30s.
Low employer KiwiSaver rate: At a 3.5% minimum employer contribution (from 1 April 2026, up from 3%; vs Australia’s 12%), employer contributions into KiwiSaver are lower than in Australia.
House deposits: Many people direct savings toward a house deposit rather than investment accounts, which reduces other savings.
How to Catch Up on Savings
If you’re behind the benchmarks:
Increase KiwiSaver contributions: Employees can choose to contribute at a higher rate than the 3.5% minimum, such as 6% or 8%.
Open a high-interest savings account: See savings accounts compared: rates differ by provider and change often, so check each provider’s own page for the current rate.
Invest outside KiwiSaver: Investing platforms let NZ investors buy index funds with small amounts, and minimums differ by provider (some have none, others start at $50 or more). See our investing guides.
Reduce debt: High-interest debt (credit cards, personal loans) reduces what you can save. Paying it down first is one option, see how to pay off debt NZ.
How Much Do You Need to Retire in NZ?
The New Zealand Retirement Expenditure Guidelines, produced by Massey University’s Financial Education and Research (Fin-Ed) Centre and supported by Financial Advice New Zealand, measure what retired households actually spend. The edition first published in October 2025 (costs to 30 June 2025) puts a two-person “choices” household at $1,780.32 a week in a metropolitan area and $1,243.41 a week in a provincial area, and a two-person “no frills” household at $937.38 (metropolitan) and $1,060.65 (provincial) (NZ Fin-Ed Centre). Over a year, the “choices” figures come to about $92,577 (metropolitan) and $64,657 (provincial). NZ Super currently pays a couple about $44,412 a year combined after tax, so the difference has to come from savings or other income.
See our full how much do I need to retire in NZ guide for detailed calculations.