Retirement calculator for New Zealand

For a retirement from 65 to 90, typically about 18 to 25 times the part of your first-year spending that NZ Super does not cover. For example, NZ$5,000 a month today becomes about NZ$125,900 a year in 30 years at 2.5% inflation, so savings of roughly NZ$2.3 to 3.1 million if you ignore NZ Super. NZ Super covers a large share of a modest budget, so most people need far less. For a quick estimate, enter your spending minus your expected NZ Super in the calculator above.

From 1 April 2026, a single person living alone receives NZ$1,110.30 a fortnight after tax at the M tax code (NZ$1,294.74 before tax), about NZ$28,900 a year. In a couple where both qualify, each partner receives NZ$854.08 a fortnight after tax. Rates rise every 1 April in line with prices and wages. NZ Super is not means-tested, but you need to have lived in New Zealand for 10 to 20 years after age 20, depending on your birth date, including 5 years after 50.

Both at 65. KiwiSaver unlocks when you reach the NZ Super qualifying age, which is currently 65; you can leave the money invested and withdraw it as you need it. A rise in the NZ Super age to 67 has been proposed but is not law. If you retire before 65, your own savings outside KiwiSaver have to cover the years until then.

From 1 April 2026 the default is 3.5% of your pay, with 3.5% from your employer, rising to 4% each from 1 April 2028; you can choose 4%, 6%, 8% or 10% instead. The government adds 25 cents per dollar you contribute, up to NZ$260.72 a year, for members earning NZ$180,000 or less. Raising your rate a few years before retirement, or adding voluntary lump sums, can make a real difference.

Withdrawals from KiwiSaver are not taxed, because tax is paid inside the fund each year at your prescribed investor rate (10.5%, 17.5% or 28%). Your rate usually falls in retirement, so update it with your provider. New Zealand has no general capital gains tax, but overseas shares held directly above the NZ$50,000 foreign investment fund threshold are taxed on 5% of their value each year. NZ Super itself is taxable income.

Around 2.5% is a reasonable long-term assumption for New Zealand. The Reserve Bank targets 1 to 3%, aiming for 2%, but prices have risen faster in some years. Local rates, insurance and health costs often rise faster than other prices. If you are unsure, test 3% to see how much more you would need.

Plan until at least 90, and to 95 if you are healthy or your family tends to live long. Many New Zealanders who reach 65 live into their late 80s or 90s, and running out of money at 85 is a much bigger problem than leaving some behind.

Raising what you invest by 2 to 5% a year, in line with pay rises, can cut the starting amount you need by a lot, because later, larger contributions do much of the work. KiwiSaver contributions are a share of your pay, so they rise with it automatically.

No. The calculator runs in your browser and your numbers are not sent to any server. The inputs appear in the page address only so you can bookmark or share a result yourself.