KiwiSaver non-contributing rates high, but there is some nuance to them

KiwiSaver continues to have a contribution problem – but some providers say it may not be as bad as it first appears.

The Financial Markets Authority’s latest KiwiSaver annual report showed the number of non-contributing KiwiSaver members lifted 3.3% year-on-year to 1.42 million. Total membership was more than 3.4 million.

People are counted as “non-contributing” when they have made no contributions in the previous two months, or, where they do not contribute via IRD, they have failed to meet their contracted contribution frequency.