MAS and Feijoa turn daily spending into KiwiSaver growth

MAS has partnered with Feijoa to let members round up everyday purchases into their KiwiSaver accounts, adding a new savings option for members of the MAS KiwiSaver Scheme.

Members can link the Feijoa app to their accounts and choose to round transactions up to the nearest NZD $1, NZD $2 or NZD $5. The difference is then added automatically to their MAS KiwiSaver Scheme account. Members can also apply the feature to family accounts in the scheme.

The partnership brings together MAS, a New Zealand mutual owned by its members, and Feijoa, a local savings app built around small automatic contributions from daily spending. The service will be available to members at no cost.

KiwiSaver is New Zealand's retirement savings framework, and the new option is aimed at people who want to increase contributions without setting aside larger lump sums. Instead of making separate manual deposits, members can build savings through frequent small transfers generated by everyday card spending.

Helen McDowall, Chief Investment Products Officer at MAS, said the partnership was designed to give members a practical way to save during a period of household budget pressure.

"We understand that, especially with today's cost-of-living pressures, finding extra money to save can be tough. That's why we're looking at solutions that fit seamlessly into everyday life," she said.

"Feijoa turns the spending our members are already doing into automatic KiwiSaver contributions. While rounding up may seem small in the moment, done consistently over time, it can make a meaningful difference. This partnership is about helping members make progress in small, achievable ways," McDowall said.

How it works

Members who opt in can set their preferred rounding level based on their circumstances. Each eligible purchase is then rounded up, with the spare change directed into the nominated KiwiSaver account within the MAS scheme.

Feijoa's product is designed to work with KiwiSaver schemes across New Zealand. The app connects to bank accounts through Akahu, an open finance platform used in New Zealand for account connectivity.

Akahu uses regulated bank connection methods where available, allowing customers to authorise access directly with their bank instead of sharing login details. Feijoa does not access KiwiSaver accounts directly, hold or manage KiwiSaver funds, or provide financial advice.

For MAS, the partnership adds a digital savings tool to its wider range of insurance and investment products. The organisation provides general insurance, life, income and business insurance, along with investment products including the MAS KiwiSaver Scheme and MAS Investment Funds.

Feijoa Co-founder Mark White-Robinson said the businesses were aligned in their focus on making savings simpler.

"We built Feijoa to make saving as easy as possible, and MAS shares that belief. Their commitment to tailored, member-first solutions makes them a great match for this offering," White-Robinson said. "Together, we can make it easier for even more Kiwis to save every day, building stronger financial futures without changing their lifestyles."

Member focus

MAS described the partnership as part of its effort to provide practical financial well-being support for members. Its ownership structure, with members rather than external shareholders, has long been central to its public positioning in the New Zealand market.

The offering also reflects a broader trend in retail financial services toward automated savings tools that sit in the background of day-to-day spending. These products are typically marketed to consumers who may find regular, scheduled savings difficult but are willing to use small incremental transfers.

Round-up models have appeared in a number of markets over the past decade, often linked to savings accounts or investment platforms. In New Zealand, linking that model to KiwiSaver contributions gives providers a way to target long-term retirement saving through routine consumer transactions.

Medical Funds Management is the issuer and manager of the MAS KiwiSaver Scheme and MAS Investment Funds. Feijoa is a registered financial services provider and a member of the Financial Disputes Resolution Service.