KiwiSaver Industry Spotlight September 2025

The FSC gathers industry data on the KiwiSaver industry and publishes quarterly spotlights for the sector.

This spotlight is a quarterly snapshot for the KiwiSaver industry as at 30 September 2025.

Key insights include:

• • Funds Under Management continues to grow, now reaching an all-time high of $125 billion.
  • Employee and Government contributions have reached a new maximum of $1.93 billion and $923.7 million respectively.
    
  • The increase in employee contributions is largely driven by an increase of $66.3 million in age group 66 to 70, while age groups 18 to 55 collectively experience a decrease of $27.7 million.
  • First home buyers, hardship and permanent emigration withdrawals reach $487.2 million, $128.4 million and $92 million respectively. The increases are observed across all genders, with slightly more weight being driven by males.

Click here for the downloadable version of the September 2025 industry spotlight.