A couple of weeks ago I downloaded an app, linked it to my bank, and then basically forgot about it. Which, it turns out, is the whole point. Every day since, a little message pops up telling me I have just invested a few dollars into my KiwiSaver without lifting a finger. The app is Feijoa, and once I saw how easy it was, I knew I had to share it with you.
So I sat down for a yarn with Mark White-Robinson, one of Feijoa’s four co-founders, to work out how it does what it does and why it matters, especially for the many of you who are not on a PAYE salary.
The missing million
Here is the number that stopped me. Around 1.6 million New Zealanders have a KiwiSaver account but do not contribute regularly, and about a million of them are walking past free money. Contribute $1,042.86 over the year, roughly $20 a week, and the government adds 25 cents for every dollar you put in, up to $260.72. That is a 25% return before your savings have even been invested. Most of the people missing out are self-employed or off PAYE, so if you pay yourself a shareholder salary, that could well be you.
Mark’s team call them the missing million, but in dollar terms it is closer to the missing billion. A million people each putting in $1,043 is more than a billion dollars a year that could be flowing into New Zealanders’ retirement savings, including around $260 million of government money nobody is picking up.
The government trimmed this top-up back in 2025, so it is smaller than it once was, but a guaranteed 25% is still about the easiest return going. One catch: if you earn over $180,000, you no longer qualify.
“It is still a 25% return, so you should do it. It is the easiest 25% you will ever get.”
Spare change you never notice
Feijoa rounds up your everyday purchases to the nearest dollar and quietly invests the difference into your KiwiSaver. Buy a coffee for $6.70 and you have already mentally spent seven bucks, so the round-up does not sting. It builds up through the day, then moves out of your account in one tidy transaction.
The average user contributes about $2.60 a day. That is roughly $950 a year, which happens to line up almost exactly with the amount you need to secure the full government contribution. For someone on an average wage, Mark reckons that is a 20 to 25% lift on their yearly KiwiSaver contributions. Not bad for money you were never going to miss.
The clever bit: getting around the paperwork
Most investment apps make you scan your passport and dig out a power bill before you can start. The Feijoa team spent a big chunk of their build working with the regulators so you do not have to. Because the money moves from an AML-compliant bank account into an AML-compliant KiwiSaver scheme, they secured an exemption from the usual customer due-diligence checks. You are really just automating voluntary contributions you could make yourself. That is why setup takes minutes, not days.
I linked it to my bank, chose which accounts to watch and which one to draw from, and it just does the rest. You honestly do not notice it.
Who is using it
Three groups have really taken to it. First-home buyers in their late twenties to late thirties, stacking their balance for a deposit. Mothers over 45, making the most of a solid financial position for the family. And grandparents, who use the sharing feature to chip into the KiwiSaver accounts of their kids and grandkids.
That sharing idea is my favourite. Mark showed me a screenshot of a mate’s three-year-old whose account, fed by a couple of dollars a day, is on track for around $420,000 by age 65 in today’s money. Imagine gifting that to a child for the price of a daily coffee.
What is next
The round-up is just the first tool. Coming soon is an income-based option, handy for the self-employed, that lets you set aside a percentage of your income automatically, no manual maths required. Further out is a rewards program, where businesses could contribute to your KiwiSaver as a loyalty perk. Think a hardware store topping up a tradie’s retirement instead of handing out points. Mark is hopeful that one lands by the end of the year.
The line that stuck
I asked Mark for his pitch, and he did not hesitate.
“Whether it is a latte, a Labrador or a Lamborghini, every purchase is a good purchase with Feijoa.”
He dreamed it up early one morning while rewriting his one-minute pitch, and it has stuck with him ever since. I reckon I was one of the first people to hear it, and I have not been able to forget it either.
Why I am telling you this
For a lot of my clients, this one is a no-brainer. Plenty of you pay yourselves a shareholder salary and are quietly leaving that government top-up on the table each year. Feijoa is about the least painful way I have seen to fix that.
A quick note: this is not financial advice, and Feijoa does not give it either, so have a look and decide what suits you. But if you have been meaning to sort your KiwiSaver for years, this might be the nudge.
Let’s have a chat
Not sure whether you are missing out on the government contribution? Send us the tricky question, we like those. From our office here in Whakatāne, we are always happy to help you make your numbers work harder.
Know someone building something clever in business or tech? We are always up for an honest conversation for Beyond the Numbers. Flick me an email and tell me their story.
Find out more
Feijoa: feijoa.kiwi
– Luke Kemeys, Keep the Change: https://youtu.be/OwVn9fVlwcg
– Francis Cook, Making Cents: https://youtu.be/9_31DGWKTBs
