In a bid to boost Kiwis' retirement savings, the Government is increasing the default KiwiSaver contribution rate to 3.5 percent next year and then 4 percent by April 2028.
The scheme will also be extended to 16 and 17-year-olds from April 1, 2026 - they will need to opt in, as the automatic enrolment will remain at 18.
The Government contribution rate, however, will reduce by half, from 50c for each dollar a member contributes to 25c, from July 1 this year.
In addition, those earning over $180,000 will no longer receive a Government contribution.
Finance expert Lisa Dudson says these changes will help people build up more for their retirements and first home deposits - but there's concerns as to how it will impact low-income earners.
LISTEN ABOVE

Dame Lynley Dodd: Kiwi Children's book author on her writing career, winning the Legacy Award at the New Zealander of the Year Awards
19:12

Kevin Milne: The influence of fathers on their sons
09:08

Chris Schulz: Gorillaz - The Mountain
07:33