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Retirement Calculator New Zealand: Are You On Track?

​How much income will you need in retirement? Are you saving enough? Will you run out of money in retirement?  Are you on track? Compare what you may have to what you will need.
Updated 1 June 2026​

Summary
  • Use our Retirement Calculator below to project whether you'll have enough to retire comfortably in New Zealand.
  • The calculator combines your KiwiSaver projection, other savings, and NZ Superannuation, then compares the total against your retirement income target to show whether you're on track or facing a shortfall.
  • All figures are in today's dollars so you can directly compare them to your current cost of living.
Assumptions:
  • All figures are shown in today's dollars (today's purchasing power), with a 2% annual inflation adjustment applied to all future amounts
  • Salary growth assumed at 3.5% per year (the FMA's projection standard)
  • During working years, returns use FMA-aligned assumptions (Conservative 2.5%, Balanced 3.5%, Growth 4.5%, Aggressive 5.5%) net of fees and 28% PIR
  • During retirement, your KiwiSaver is assumed to be in a Conservative-style fund earning 2.5% net of fees and tax (the FMA's post-retirement assumption)

Pre-set numbers:
  • NZ Superannuation rates are after-tax M tax code, effective 1 April 2026: Single living alone $1,110.30 per fortnight, Single sharing $1,024.90, Couple combined $1,708.16. NZ Super is assumed to grow with wages, broadly maintaining purchasing power in today's-dollar terms
  • Employer KiwiSaver contribution of 3.5%, with ESCT deducted at the rate matching your salary plus employer contribution (10.5% to 39%)
  • Government KiwiSaver contribution of $260.72 per year included if you're aged 16-64 and earn under $180,000

Drawdown model explainer:
  • Your savings are gradually drawn down to support your weekly income, with the balance assumed to reach zero at the age you nominate (default 90)
  • Other retirement savings (managed funds, ETFs, term deposits outside KiwiSaver) grow at the same fund return rate but without further contributions modelled

Our calculator does not model:
  • First home withdrawals, early retirement before 65, partner who is older or younger, overseas pensions reducing NZ Super, healthcare costs above target income, downsizing the family home, or part-time work in retirement

Past performance is not a guarantee of future returns. This calculator is illustrative only and not financial advice.

Your retirement details

Living arrangement in retirement
Sets your NZ Superannuation rate (1 April 2026 rates, M tax code)
Your KiwiSaver contribution rate
Fund type until retirement
FMA-assumed returns net of fees and 28% PIR
Plan to age
Life expectancy at age 65 in NZ is around 85 to 87. Plan longer for safety.
Calculating...
Accumulation phase Drawdown phase
Lump sum at retirement $0 in today's dollars
Weekly retirement income $0 savings + NZ Super

Weekly income breakdown

From your savings sustainable withdrawal $0
From NZ Superannuation $0
Total weekly income $0
Your target $0
Gap $0
How the Retirement Calculator works
Our Retirement Calculator runs your numbers through two phases - accumulation (now until you retire) and drawdown (retirement until the age you nominate).
  • The accumulation phase grows your KiwiSaver and other savings using the Financial Markets Authority's assumed return rates, which are net of average fees and 28% PIR tax.
  • The drawdown phase then works out the maximum sustainable annual withdrawal so your savings last to your nominated longevity age, combined with NZ Superannuation to give your projected total weekly retirement income.

We use the FMA's standard projection assumptions because they're the same numbers every KiwiSaver provider must use on your annual member statement, set by the Government and reviewed periodically.

This means the lump-sum figure our calculator shows should closely match what your provider projects on your statement, assuming the same inputs.

Know This: The figures this calculator produces are projections, not guarantees. Furthermore:
  • Investment returns vary year to year and can be negative
  • NZ Super eligibility rules may change in the future, and/or
  • Your personal situation may include factors we don't model (early retirement, partial work in retirement, downsizing your home, an older or younger partner, overseas pensions, healthcare costs above your target).

The calculator is designed to help you think clearly about whether you're broadly on track and help you consider the options available.

Retirement Calculator Frequently Asked Questions

Why does my projected balance look smaller than I expected?

Our calculator shows results in today's dollars (today's purchasing power), not future dollars. This matches how your annual KiwiSaver statement shows your projected balance and is the standard the Financial Markets Authority requires from KiwiSaver providers.

For example, a $300,000 balance in 30 years' time will only buy what around $165,000 buys today (assuming 2% annual inflation), so showing the inflation-adjusted figure helps you understand what your retirement income will actually feel like. If you want to see the future-dollar number, multiply your projected lump sum by approximately 1.81 for a 30-year projection or 2.21 for 40 years.

Does the calculator account for NZ Superannuation being means-tested or removed in the future?

No - NZ Superannuation is currently universal and not means-tested, and the calculator assumes this continues. NZ Super has been a foundation of New Zealand's retirement system since 1977 so removing it entirely is unlikely.

However, future governments could change the eligibility age (currently 65), the residency requirement (currently moving from 10 to 20 years by 2042), or the indexation formula (currently linked to wages).

Our view is that planning conservatively, with NZ Super included but recognising it may change, is the most useful approach for most New Zealanders. If you want a stress test, set your target income higher to see the projection without leaning as heavily on NZ Super.

What's the difference between this calculator and our KiwiSaver Calculator?

Our KiwiSaver Calculator projects your KiwiSaver balance only, in future dollars, and answers the question "how much will I have in KiwiSaver at retirement?"

This Retirement Calculator is broader - it combines your KiwiSaver balance, other retirement savings, and NZ Superannuation, then compares the total against your target retirement income to show whether you're on track. Use the KiwiSaver Calculator if you only want to see how your contributions and fund choice affect your KiwiSaver balance. Use this Retirement Calculator if you want the full picture of whether you'll have enough to retire comfortably.
Related Resources

1. Retirement Planning and Income
2. KiwiSaver and Investments
3. Financial Independence and Early Retirement (FIRE)
4. Personal Finance and Wealth Building
5. Lifestyle and Support for Seniors