ANZ’s latest KiwiSaver Insights Report, Turning the Tide, has called for urgent bipartisan action to strengthen New Zealand’s retirement savings system.

The report highlights encouraging engagement from younger generations, with 27% of 16–17-year-olds contributing in June–July despite not receiving government or employer matches.

A 15-year-old starting full-time work at 21 could save $1.16 million by age 65, or $689,000 if they buy a home at 35.

Generational contribution trends show Gen Z at 53%, Millennials around 60%, Gen X at 68–72%, and Baby Boomers at 60%, with one third of pre-1946 members still contributing.

Regional disparities persist, with South Island regions exceeding 70% engagement compared to just over 60% in Auckland and Northland.

The gender gap remains significant.

Men’s average balance is $38,206 compared to $32,133 for women, a difference that widens to $17,000 by age 64.

Younger members are more likely to select growth-oriented funds, with 64% of Gen Alpha choosing Growth compared to 41% of Gen Z and 35% of Millennials.

Fiona Mackenzie, Managing Director of ANZ Investments, said New Zealand is at a pivotal moment.

She urged a review of KiwiSaver settings, including gradually increasing default contribution rates, adjusting the retirement age, supporting disadvantaged savers, and expanding financial literacy.

For Hibiscus Coast families, the findings are a timely reminder of how important it is to start saving early.

With many locals balancing KiwiSaver as both a pathway to first-home ownership and long-term retirement planning, policy changes will directly affect the way Coast households prepare for the future.

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