KiwiSaver enrolment for under-16s

Effective from 1 July 2025, it has become easier to enrol your child in KiwiSaver. While under-16s are not automatically enrolled into KiwiSaver, only one parent or legal guardian’s signature is required, a shift from the previous requirement of obtaining signatures from all parents or legal guardians. This article explores the implications of this change and its potential impact on families and young savers.

Key changes to enrolment for under-16s

1. Simplified process: The new regulation simplifies the enrolment process for children under 16. Previously, the requirement for all legal guardians to sign could create barriers for families, especially in situations where guardianship arrangements are complex. With the new rule, only one parent or legal guardian's signature is necessary, making it easier for families to set up KiwiSaver accounts for their children.
2. Encouraging early savings: Having only one parent or legal guardian's signature makes it easier to sign up to KiwiSaver for under-16s. The earlier a child begins saving, the more likely they may benefit from compound interest over time, potentially leading to a more secure financial future.
3. Financial literacy: This change also compliments broader efforts to improve financial literacy among young people in New Zealand. By introducing children to the concept of saving and investing at a young age, they may develop better financial habits that can serve them well into adulthood.

Long-term benefits: Starting to save at a young age could lead to significant financial advantages in the long run. With the possibility of government contributions once they turn 16 and employer contributions, children who enrol in KiwiSaver early and who receive regular contributions may have the opportunity to accumulate savings by the time they reach adulthood.

For more information on these changes, please visit the official legislation page.

Additional Resources

• Fund Selector – help them assess their risk appetite.
• Financial Advice Provider – Disclosure Statement.
• Estimate their retirement savings and income – Use our Retirement Income Simulator to see what their retirement could be worth.
• New Zealand Defence Force Savings Scheme’s members have access to an independently appointed Become Wealth team of advisers who can be contacted on 0508 BECOME (0508 232 663) or at hello@become.nz.