KiwiSaver gender gap widens further, average balances drop

New data from the Te Ara Ahunga Ora Retirement Commission shows gender gaps in every age category widened with larger gaps opening in younger age groups, up 7% to 23% for 18-25 year olds and up 8% to 27% for 31-35 year olds.

Melville Jessup Weaver (MJW) actuaries was commissioned to collect KiwiSaver demographic data as at December 2022 to update data first collected as at December 2021.Data was gathered from more than three million KiwiSaver members and represents approximately 94% of the total KiwiSaver member base.

Te Ara Ahunga Ora Director, Policy and Research, Dr Suzy Morrissey says the research builds a picture of the challenges women face to grow their KiwiSaver balances.

“Analysis of the widening gap does not appear to be explained by fund choice, withdrawal, or suspension behaviour of women compared to men.”