A report from the Retirement Commission has revealed a growing gap in retirement savings between self-employed New Zealanders and employees. Without access to employer contributions and automatic payroll deductions, many sole traders, contractors, and small business owners are contributing less — or not at all — to KiwiSaver.
Left unaddressed, this gap could leave many self-employed Kiwis financially underprepared for retirement. At Hive, we believe every Kiwi deserves a strong, confident financial future — no matter how they earn their income. That's why supporting self-employed New Zealanders to take steps toward better retirement outcomes matters.
Key findings from the report
- Only 44% of self-employed people are actively contributing to KiwiSaver, compared to 78% of employees.
- 41% of self-employed KiwiSaver members receive no government contribution, compared to 19% of employed members.
- 46% of sole traders cite limited spare income as the main barrier to contributing to KiwiSaver.
It's good to remember that even small, regular contributions can add up significantly over time — especially when combined with investment returns and government contributions. Whether it's $10 a week or $100 a month, building the habit now can help make your retirement more secure.
How Hive can help
The Hive KiwiSaver Scheme is open to all eligible members, but self-employed people often face different challenges when it comes to building retirement savings. That's why, when you join the Scheme, you also gain access to expert KiwiSaver advice as part of the service — at no extra cost.
Your Adviser can help you:
- Understand how much to contribute, based on your goals and income patterns.
- Ensure you’re eligible for the annual government top-up (currently up to $260.72 each year)*.
- Choose an investment option aligned with your risk comfort and timeframe.
- Stay on track through changing markets.
The role of your Adviser is to provide the support and information needed to make informed, long-term financial decisions — especially for those managing their finances independently.
Next steps
If you're self-employed, contributing to KiwiSaver isn't automatic as it is for employees — but with the right plan, the long-term benefits can be just as significant.
Hive is committed to supporting New Zealanders with clear advice, quality investment management, and a straightforward approach to growing long-term wealth.
Get in touch today to discuss how the Hive KiwiSaver Scheme can support your retirement goals — contact your Adviser, email hello@hive.co.nz or call 0800 242 023.
*Eligibility criteria apply.
