KiwiSaver questions, answered
Contributions and the government contribution, employer rates and ESCT, funds and fees, first home withdrawals and what happens on death.
Every answer below is taken from the calculator or guide that works the number out, and each heading links back to it so you can put your own figures in. Nothing here is advice, and where a rate or threshold applies the page that owns the answer holds the current figure.
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Employer KiwiSaver Cost Calculator NZ 2026/27
What is the employer KiwiSaver contribution rate in 2026?
The compulsory minimum rose from 3% to 3.5% on 1 April 2026 and rises again to 4% on 1 April 2028. The employer rate matches the employee default rate. Employees can apply for a temporary rate reduction of between 3 and 12 months to stay at 3%, and the employer contribution matches the reduced rate while it applies.
Does the employee receive the full employer contribution?
No, and this surprises people on both sides of the payroll. ESCT is deducted from the employer contribution before it reaches the account. On the worked example a 3.50% contribution on a $75,000.00 salary is $2,625.00, ESCT at 30% takes $787.50, and $1,837.50 lands in the account. That is 2.45% of salary, not 3.50%.
How is ESCT calculated?
It is banded on the employee's salary plus the gross employer contribution combined. From 1 April 2025 the bands are 10.5% up to $18,720, 17.5% to $64,200, 30% to $93,720, 33% to $216,000, and 39% above that. The rate applies to the whole contribution, not just the part above the threshold.
Is there a cliff in the ESCT thresholds?
Yes, and a sharp one, because each rate applies to the entire contribution rather than only the portion above the threshold. At a $90,550.00 salary and a 3.50% contribution, $2,218.48 reaches the account. At $90,551.00 the combined total crosses $93,720 and only $2,123.42 reaches it. A $1.00 pay rise costs the employee $95.05 in their KiwiSaver.
What does the increase to 3.5% cost my business?
Half a percent of the payroll of contributing employees. On the worked example of 25 staff averaging $75,000.00, moving from 3% to 3.5% adds $9,375.00 a year, which is $375.00 per employee. The further step to 4% in 2028 adds the same again, making $18,750.00 in total.
Can I pay ESCT on top of the contribution instead?
You can choose to contribute more so that the amount landing in the account reaches the full percentage, and some employers do this deliberately. It is not the default and not required. The compulsory minimum is calculated on the gross contribution, so ESCT coming out of it still satisfies the obligation.
Which employees do I count?
Only KiwiSaver members actively contributing. Employees who opted out, are on a savings suspension, or are under 18 do not attract a compulsory employer contribution. Members aged 65 and over are still eligible for employer contributions, though they no longer receive the government contribution.
Is the employer contribution on top of salary or part of it?
It must be on top for the compulsory minimum. Total remuneration arrangements, where the contribution comes out of an agreed package, are permitted only where genuinely agreed with the employee and are subject to good faith requirements. Treating the compulsory contribution as part of an existing salary without agreement is not permitted.
KiwiSaver at 65: Lump Sum vs Drawdown Calculator NZ 2026/27
What happens to my KiwiSaver when I turn 65?
You become eligible to withdraw some or all of your KiwiSaver savings once you turn 65 and have been a KiwiSaver member for at least 5 years. You are not required to withdraw anything, and can leave your whole balance invested for as long as you like.
Should I take my KiwiSaver as a lump sum or drawdown it gradually?
There is no single right answer. It depends on your other income, any debt, your health and whether you want the balance to keep growing. Leaving it invested and drawing it down gradually usually makes the same money last longer than a lump sum spent at the same rate, but a lump sum can suit paying off high-interest debt or a major one-off cost.
Do I pay tax on KiwiSaver withdrawals after 65?
No. KiwiSaver earnings are taxed each year inside the fund at your prescribed investor rate, so the withdrawal itself, whether a lump sum or a series of drawdown payments, is not further taxed as income.
Can I leave my KiwiSaver invested after 65 and take regular payments?
Yes. Once you are eligible to withdraw, most providers let you leave your savings invested and set up regular automatic withdrawals instead of taking everything out at once, and you can usually change the amount or stop at any time. Check the options and any minimum balance with your own provider.
Can I keep contributing to KiwiSaver after I turn 65?
Yes, and your employer generally must keep contributing too if you are still working. Once you reach your KiwiSaver withdrawal date, though, you stop qualifying for the annual government contribution even if you keep contributing yourself.
What return should I use for the drawdown calculation?
Use a realistic long-run return for how your money stays invested after 65, net of fees and tax. This calculator uses the standard FMA fund-type assumptions: 2.5% Conservative or Defensive, 3.5% Balanced, 4.5% Growth and 5.5% Aggressive. Many retirees shift to a more conservative fund as they draw down, since there is less time to recover from a market fall.
Does this calculator include NZ Super?
You can add it. Select your living situation to add the current net NZ Super rate to your total annual income figure. NZ Super is paid on top of any KiwiSaver income and does not reduce it, or vice versa.
What if I draw less than my investment return each year?
Then your balance never shrinks. If your annual drawdown is less than or equal to what your remaining balance earns at your selected return, investment growth alone covers the withdrawal, and the balance can last indefinitely.
KiwiSaver Balance by Age Calculator NZ 2026/27
What is the average KiwiSaver balance in New Zealand by age?
As at 31 December 2025, average KiwiSaver balances ranged from about $3,512 for members aged 17 and under to $77,927 for those aged 61 to 65, based on Melville Jessup Weaver data commissioned by Te Ara Ahunga Ora, the Retirement Commission. Balances generally rise through a person's working life as contributions and investment returns build up. See the full age-band table on this page for every five-year group from under 18 to 86 and over.
What is the average KiwiSaver balance overall in New Zealand?
The average KiwiSaver balance across all roughly 3.35 million members was $41,286 as at 31 December 2025, up 11.3% from $37,079 a year earlier. This overall figure is lower than most of the working-age band averages because it includes a large number of children and young adults with small balances.
Why is there a gap between men's and women's KiwiSaver balances?
Men's average KiwiSaver balance was $47,452 compared with $38,212 for women as at 31 December 2025, a gap of about 24%. Te Ara Ahunga Ora attributes this mainly to differences in average pay, more time out of paid work for caregiving, and higher rates of part-time work among women, all of which reduce the contributions going into a KiwiSaver account over a working life.
Are these average balances or median balances?
They are mean averages, not medians. A relatively small number of members with very large balances, particularly in the older age bands, pull the mean upward. The typical, or median, member in most bands is likely to hold less than the average shown here, so treat these figures as a general benchmark rather than an exact midpoint.
Where does this KiwiSaver balance data come from?
The figures come from a KiwiSaver demographic study by actuarial firm Melville Jessup Weaver, commissioned by Te Ara Ahunga Ora, the Retirement Commission. The data is as at 31 December 2025 and covers approximately 3.35 million KiwiSaver members, close to the full membership. It was publicly reported in late May 2026.
My balance is well below the average for my age. Does that mean I'm behind for retirement?
Not necessarily. These averages are pulled upward by members with unusually large balances and take no account of your income, how long you have been contributing, any first-home withdrawal, or your provider's returns and fees. A lower-than-average balance is a reason to check your contribution rate and fund type, not proof you are behind. The KiwiSaver Retirement Projection Calculator gives a personalised check against your own retirement goals.
Does my KiwiSaver fund type affect how my balance compares?
Indirectly, yes. Growth and Aggressive funds have higher expected long-run returns, 4.5% and 5.5% a year net of fees and tax under standard Financial Markets Authority projection assumptions, than Conservative or Balanced funds at 2.5% and 3.5%. Over a long period, members in higher-growth funds tend to build larger balances, with more short-term movement along the way. Fund type is one of several factors, alongside income and contribution rate, behind the spread of balances within every age band.
How often is this KiwiSaver balance by age data updated?
Te Ara Ahunga Ora commissions a new demographic study roughly once a year. This calculator will be updated to the next release when it becomes available, so check the freshness date at the top of this page for the current data's as-at date.
KiwiSaver Fee Drag Calculator NZ 2026/27
How much can KiwiSaver fees really cost me over 30 years?
A fee difference well under one percentage point a year can cost tens of thousands of dollars over a full KiwiSaver lifetime, because the fee compounds against a growing balance every year, not just once. For example, a 0.65 percentage point gap on a $25,000 balance with typical contributions can cost more than $56,000 over 30 years, even with identical underlying investment performance.
What is fee drag?
Fee drag is the ongoing reduction in your investment return caused by a percentage-based fee, and the compounding effect that reduction has over time. A 1 percent annual fee does not cost you 1 percent once, it costs 1 percent of your balance every year for as long as you stay invested, which is why the effect grows so much larger the longer your time horizon.
Are KiwiSaver fees taken from my balance or only from my gains?
Most KiwiSaver funds charge their percentage-based management fee on your total balance, deducted regardless of whether the fund gained or lost value that period. Some funds also charge a small fixed monthly or annual member fee on top of the percentage fee. Check your provider's Fund Update for the exact fee structure.
What return assumptions does this calculator use?
It uses the standard long-run return assumptions applied to the four KiwiSaver risk categories in Fund Updates: 2.5 percent for Conservative or Defensive funds, 3.5 percent for Balanced, 4.5 percent for Growth and 5.5 percent for Aggressive, each stated net of typical fees and after tax at the 28 percent prescribed investor rate (PIR).
Does a higher fee always mean worse performance?
Not necessarily. Some higher-fee funds are actively managed and aim to outperform after fees, though evidence over the long run is mixed. A higher fee only becomes a problem when it is not matched by higher performance, which is exactly what this calculator is designed to expose, since it holds performance constant and isolates the fee.
How do I find out my KiwiSaver fund's actual fee?
Check your fund's quarterly Fund Update, published free on your provider's website, or compare funds side by side using the Sorted KiwiSaver Fund Finder at sorted.org.nz.
Is it worth switching KiwiSaver funds just to save on fees?
Usually a lower fee is worth having if the fund invests in a similar way to your current one and still suits your risk tolerance and time horizon. Most switches in New Zealand are free and take around ten working days, though it is worth checking your current provider does not apply an exit fee, which some legacy schemes still do.
Does switching funds affect my government or employer contributions?
No. Your employer contributions, your own contributions and the annual government contribution are based on your income and your own contribution rate, not on which KiwiSaver provider or fund you use. Switching funds only changes your investment return and the fee you pay, not your contribution entitlements.
KiwiSaver for Children Calculator NZ 2026/27
Can a baby or child have a KiwiSaver account in New Zealand?
Yes. A parent or legal guardian can sign a child of any age up to a KiwiSaver scheme, including a newborn baby. The account is legally the child's, but a parent or guardian manages it and makes decisions on the child's behalf until they turn 18.
Do children get the KiwiSaver government contribution?
No, not until they turn 18. The government contribution, officially called the member tax credit, is only paid to members aged 18 or over. It matches 25c for every $1 of member contributions made in a KiwiSaver year (1 July to 30 June), up to a maximum of $260.72 a year, which requires $1,042.86 of contributions in that year. Money contributed on a child's behalf before they turn 18 does not attract this top-up, no matter how much is paid in.
Does a child's KiwiSaver account get employer contributions?
Almost never. Employer contributions only apply where a member is an employee earning PAYE income under a KiwiSaver-eligible employment agreement, which does not apply to most children. A child's account grows purely from whatever family members choose to contribute, plus investment returns, until the child is old enough to work and contribute themselves.
How much can I contribute to a child's KiwiSaver account?
Any amount, at any frequency you like. Because a child has no employer and no compulsory contribution rate, contributions are entirely voluntary lump sums or regular payments made directly to the provider, unlike an adult employee's fixed percentage of salary.
Can grandparents or other family members contribute to a child's KiwiSaver?
Yes. Anyone can make a voluntary contribution to a KiwiSaver member's account, including a child's, usually by direct credit or automatic payment using the member's KiwiSaver reference number supplied by the provider.
What tax rate applies to a child's KiwiSaver investment earnings?
KiwiSaver funds are taxed each year at the member's prescribed investor rate (PIR), which is based on taxable income. A child with no other income typically qualifies for the lowest 10.5% rate. If a PIR is not supplied to the provider, the default rate applied is 28%, so it pays to give the provider the child's IRD number and correct PIR.
Can my child use their KiwiSaver for a first home once they turn 18?
Yes, provided the standard first-home withdrawal rules are met: the member must be at least 18, have been a KiwiSaver member for at least 3 years, and be buying a first home to live in. A child enrolled young will usually clear the 3-year membership test well before 18. A minimum of $1,000 must stay in the account after the withdrawal.
What fund type suits a child's KiwiSaver account?
That depends on your own risk tolerance and how the money will eventually be used. With a horizon of well over a decade until the child turns 18, many parents lean towards a Growth or Aggressive fund rather than Conservative, but this calculator lets you compare all four standard fund types and is not a substitute for advice from a licensed financial adviser.
KiwiSaver Provider Fee Comparison Calculator NZ 2026/27
How do I compare KiwiSaver provider fees properly?
Compare the annual fund charge percentage, published in each provider's quarterly Fund Update, for funds of the same type, since a Growth fund naturally costs more to run than a Conservative one. This calculator projects your own balance and contributions forward under each provider's fee, holding investment performance equal, so you see a dollar figure rather than just a percentage gap.
Does a lower fee always mean a better KiwiSaver provider?
Not automatically. Fee is only one factor. Fund type, risk level, and whether the provider's investment approach suits your timeframe all matter too. This calculator isolates the fee effect on the assumption that the gross investment performance before fees is the same across the providers you enter, which lets you see exactly what the fee difference alone is projected to cost.
How much can a KiwiSaver fee difference cost over 30 years?
Even a fee gap of well under one percentage point a year can cost tens of thousands of dollars over three decades, because the fee is charged on a growing balance every year and compounds in the opposite direction to your returns. See the worked example on this page for a specific dollar figure.
What return does this calculator assume for each provider?
Your selected fund type sets a baseline long-run return, using the standard KiwiSaver Fund Update projection figures: 2.5% for Conservative or Defensive, 3.5% for Balanced, 4.5% for Growth and 5.5% for Aggressive, net of typical fees and after tax at the 28% prescribed investor rate. Each other provider's return is then adjusted only by its fee difference from the first provider, so the comparison isolates fees rather than assuming one provider invests better than another.
How is my annual KiwiSaver contribution estimated?
From your entered salary, using the default employee rate of 3.5% and default employer rate of 3.5% from 1 April 2026, plus the government contribution of 25 cents per dollar of your own contribution, capped at $260.72 a year and requiring $1,042.86 of member contributions to receive the full amount. The government contribution is removed once income exceeds $180,000, effective from 1 July 2025. You can overwrite the estimated total if you know your actual contribution.
Is it worth switching KiwiSaver provider to save on fees?
Usually, if the new provider's fund invests in a broadly similar way and still suits your risk tolerance and timeframe. Most KiwiSaver switches in New Zealand are free and take around ten working days, and your balance stays invested throughout, but check your current provider does not charge an exit fee, which some legacy schemes still do.
Where do I find a provider's actual current fee?
Every KiwiSaver scheme must publish a quarterly Fund Update showing its exact annual fee and net returns. You can find this on the provider's own website, for example Generate KiwiSaver publishes both its Product Disclosure Statement and Fund Updates, or compare schemes side by side using the free Sorted KiwiSaver Fund Finder at sorted.org.nz.
Does switching KiwiSaver provider change my government or employer contributions?
No. Your own contribution rate, your employer's contribution and the annual government contribution all depend on your income and chosen contribution rate, not on which provider or fund holds your KiwiSaver. Switching provider only changes your investment return and the fee you pay.
KiwiSaver Switch Break-Even Calculator NZ 2026/27
Does it cost anything to switch KiwiSaver provider or fund?
In almost all cases, no. KiwiSaver providers cannot charge an exit fee to leave, and most transfers between schemes are free. Some advised or bundled products occasionally build in a cost, which is why this calculator lets you enter one if it applies to you. For a standard direct transfer, enter $0.
What does time out of the market mean in a KiwiSaver switch?
When you switch schemes, your old provider sells down your investments and transfers the proceeds to your new provider, who then reinvests the money. For however many days that takes, your balance may sit as cash rather than being invested, so it misses out on the fund's normal daily movement. This calculator treats that as a small one-off opportunity cost, measured in days.
How much difference does a 0.5 percentage point fee gap actually make?
A 0.5 percentage point lower fee adds roughly 0.5 percentage points to your net annual return, because the fee is charged on your whole balance every year, not just new contributions. Compounded over 20 to 30 years that can be tens of thousands of dollars, which is usually far more than any realistic switching cost.
What return assumptions does this calculator use?
The standard Financial Markets Authority (FMA) long-run projection assumptions used across KiwiSaver Fund Updates: 2.5% for Defensive/Conservative funds, 3.5% for Balanced, 4.5% for Growth and 5.5% for Aggressive, each stated net of typical fees and after tax at the 28% prescribed investor rate (PIR).
Is my current fund guaranteed to keep performing at the assumed rate?
No. These are long-run planning assumptions, not a forecast or a promise. Actual returns vary by year and by fund. Use this calculator to compare the fee difference between two options on a level playing field, not to predict your exact future balance.
Should I switch KiwiSaver provider, or just switch fund with my current provider?
Both are covered by this calculator. You might move to a cheaper fund with the same provider, to a different provider entirely, or change both provider and risk profile at once. Enter the fee for whichever fund you are actually moving to.
How long does a KiwiSaver transfer take?
It varies by provider, but most switches in New Zealand are free and take around ten working days. Check the expected transfer time with your new provider and enter it as the number of days out of the market; if you are unsure, a conservative estimate is safer than assuming zero.
Does this include my employer and government KiwiSaver contributions?
Yes. Enter your combined annual contribution figure, meaning your own contribution plus your employer's (at least 3.5%, rising to 4% from 1 April 2028) and the government contribution of up to $260.72 a year, added together.
KiwiSaver vs Term Deposit vs Shares Calculator NZ 2026/27
Which is better, KiwiSaver, a term deposit or shares?
There is no single answer, it depends on your time horizon, income and how much access to the money you need. Using this calculator's own example figures (a $75,000 income, saving 3.5% a month, a $10,000 starting balance and a 20-year horizon at a Growth fund return), KiwiSaver ends up worth the most, about $203,255.97, mainly because of the employer match and government contribution rather than a higher return. An identical share fund without those extras reaches about $109,775.25, and a term deposit at an example 4.20% rate, after 30% RWT, reaches about $89,513.00. Enter your own numbers to see your personal comparison.
Why does KiwiSaver come out ahead in this calculator?
Mostly because of money that is not yours. In the worked example, KiwiSaver benefits from a matching employer contribution and up to $260.72 a year in government contributions, on top of the same monthly amount and the same investment return used for the share fund. Remove those two extras and KiwiSaver and a comparable PIE share fund would grow at the same after-tax rate on the same contributions.
What tax rate applies to term deposit interest?
Term deposit interest is subject to Resident Withholding Tax (RWT) at the rate matching your income tax bracket: 10.5%, 17.5%, 30%, 33% or 39%. This calculator works out your rate automatically from the annual income you enter, using the same brackets Inland Revenue uses for PAYE.
What is PIR and how does it affect KiwiSaver and PIE share funds?
The prescribed investor rate (PIR) is the tax rate applied each year inside a portfolio investment entity (PIE), which includes KiwiSaver funds and most managed share funds and ETFs. Based on your income it is 10.5% (income $15,600 or less), 17.5% ($15,601 to $53,500), or 28% (above $53,500), capped at 28% even for higher earners. This calculator's return assumptions already build in the top 28% PIR, so if your own PIR is lower your real result could be slightly higher than shown.
Can I lose money in KiwiSaver or a share fund but not in a term deposit?
Yes. A term deposit's return is fixed for the term and backed by the bank, while KiwiSaver and share fund balances move up and down with markets and are not guaranteed, even though this calculator uses a smooth constant annual return to keep the comparison simple. Longer time horizons generally give investments more time to recover from a downturn, which is a major reason fund choice usually depends on how soon you need the money.
Can I withdraw KiwiSaver before 65?
Generally no, other than a first-home withdrawal after 3 years of membership (leaving a minimum $1,000 in your account), significant financial hardship, permanent emigration, or serious illness. A term deposit or a share fund held outside KiwiSaver has no such lock-in and can generally be accessed at any time, though breaking a term deposit early can mean an interest penalty.
Is the term deposit rate in this calculator official?
No. Unlike the tax rates and KiwiSaver settings used elsewhere on this page, term deposit interest rates are set by individual banks and change often, so this calculator leaves that field blank rather than guessing a rate for you. Enter the actual rate you have been offered, or check a comparison site such as interest.co.nz for current rates, before relying on the result.
What if my shares aren't held in a PIE fund?
The tax treatment is different. Direct NZ shares held personally are usually not taxed on capital gains, since New Zealand has no general capital gains tax, though shares bought with a purpose of resale can be taxable under Inland Revenue's intention tests. Dividends are taxed at your own marginal rate, less any imputation credits attached, and overseas shares above a cost threshold are typically taxed annually under the separate foreign investment fund (FIF) rules regardless of sale. This calculator instead models the Shares option as a PIE managed fund or exchange traded fund, so it can use the same official return assumption and a consistent, simple tax treatment for a clean comparison.
Lost KiwiSaver Value Finder NZ 2026/27
Can I really have lost KiwiSaver money in New Zealand?
Not in the way an old bank account can be lost. In New Zealand you can only belong to one KiwiSaver scheme at a time, so your KiwiSaver money stays invested with a named provider and is always linked to your IRD number. What people usually mean by lost KiwiSaver is that they have forgotten, or never knew, which provider or scheme they are currently with, often because a bank signed them up years ago when they opened an everyday account.
How do I find out who my current KiwiSaver provider is?
Log in to myIR at ird.govt.nz and look under the KiwiSaver section, which shows your current scheme provider and their contact details. If you cannot access myIR, call Inland Revenue on 0800 549 472, Monday to Friday, 8am to 6pm, and ask for your KiwiSaver scheme details.
Can I have more than one KiwiSaver account at the same time?
Generally no. KiwiSaver rules direct new contributions to your existing scheme when you start a new job, so most members end up with only one active account over time. Genuine duplicate accounts are rare today, but a small forgotten balance can still be left behind in an old scheme if a transfer stalled years ago, or if you signed up voluntarily and were later auto-enrolled elsewhere before that was picked up.
What if I don't have a myIR account set up?
You can register for one free at ird.govt.nz using your IRD number, or call Inland Revenue's KiwiSaver line on 0800 549 472 during business hours and confirm your identity over the phone instead.
Is it worth consolidating a small forgotten KiwiSaver account?
Usually yes, if the account is sitting in a lower-growth fund than the one you would otherwise use, and you have a reasonable number of years left before you need the money. Consolidating does not add investment risk by itself, since your total balance is simply combined into one account, one fund and one set of fees, instead of being split across a fund you no longer track.
Does a dormant KiwiSaver account still earn the government contribution?
No. The government contribution of 25 cents per dollar, capped at $260.72 a year, requires you to have personally contributed at least $1,042.86 in the 1 July to 30 June year. A dormant account with no ongoing personal contributions will not receive it, regardless of how many accounts you have had.
Does merging accounts affect my KiwiSaver membership length or first-home eligibility?
No. Your KiwiSaver membership length is measured from the date you first joined any KiwiSaver scheme, not from the date you joined your current provider. Transferring your balance to a different scheme does not reset the clock on the three-year membership test used for a first-home withdrawal.
What if I've moved overseas and lost track of my KiwiSaver?
You can still access myIR and contact your KiwiSaver provider from overseas. If you cannot log in, Inland Revenue's overseas KiwiSaver line is +64 4 832 5228. Your account keeps growing, or shrinking, with normal fund performance while you are away, and the usual withdrawal rules still apply based on your circumstances.
Self-Employed KiwiSaver Calculator NZ 2026/27
Do I get the KiwiSaver government contribution if I am self-employed?
Yes. The KiwiSaver government contribution is based on your own member contributions during the KiwiSaver year, not on whether you have an employer. Self-employed members qualify on exactly the same terms as employees: 25 cents for every $1 you contribute yourself, up to $260.72 a year, provided your taxable income is $180,000 or less. The difference is that nobody deducts the contribution for you, so you have to make it yourself.
How much do I need to contribute to get the full $260.72?
You need to contribute at least $1,042.86 of your own money between 1 July and 30 June. The government pays 25 cents per $1, so $1,042.86 multiplied by 0.25 equals $260.72, the annual maximum.
What happens if I only contribute part of the $1,042.86?
You still receive 25 cents for every dollar you did contribute. Contribute $500 and you receive $125. There is no minimum below which you get nothing, but you only reach the full $260.72 once your own contributions for the year reach $1,042.86.
Is there an income limit for self-employed KiwiSaver contributions?
There is no limit on how much you can contribute to KiwiSaver. There is an income limit on the government contribution: from 1 July 2025, members with taxable income above $180,000 no longer receive it, regardless of how much they contribute.
When is the KiwiSaver contribution year and when is the top-up paid?
The contribution year runs from 1 July to 30 June. Inland Revenue calculates each member's entitlement after 30 June and pays it into their KiwiSaver account, usually by late July or August.
Can I make one lump-sum contribution instead of paying regularly?
Yes. The government contribution only cares about the total you have contributed by 30 June, not how it was paid in. A single lump sum of $1,042.86 made any time before the deadline, cleared with your provider, qualifies for the same $260.72 as spreading it across the year in monthly payments.
How do I actually make a voluntary KiwiSaver contribution as a self-employed person?
Most providers accept a direct bank transfer or automatic payment using your KiwiSaver member number as the reference, paid straight to your provider's bank account, or a payment through Inland Revenue's myIR. Check your provider's website for their exact account details and reference format, and set up an automatic payment so it happens without you needing to remember it.
Is chasing a $260.72 top-up worth the effort long-term?
Yes. On its own $260.72 looks small, but it is an immediate 25% return on your own contribution before any investment growth, which no ordinary investment offers. Claimed every year and left to compound alongside your own contributions over a working life, the government's money alone can grow to a five-figure sum. See the worked example on this page for the exact projection.
KiwiSaver First Home Withdrawal Calculator NZ 2026
Can I use my KiwiSaver to buy a second property or an investment property?
No. The KiwiSaver first home withdrawal is only available for a property you intend to live in as your main residence. It cannot be used for investment properties, holiday homes, or any property you do not plan to occupy.
What happens to my KiwiSaver after I withdraw for a first home?
Your KiwiSaver account stays open. If you are employed, employer and employee contributions continue as normal. You will keep receiving the government member tax credit on qualifying contributions. Your balance restarts from the $1,000 minimum and grows again from contributions and investment returns. You can only make one first home withdrawal in your lifetime, so the account will accumulate toward retirement after that.
How long does a KiwiSaver first home withdrawal take?
Most providers process applications within 10 to 15 working days. Some may be faster, particularly if you apply online through their platform. Allow at least three weeks between applying and your settlement date. If your settlement date changes, contact your provider to update the timing. Funds go directly to your solicitor's trust account, not to you personally.
Can I withdraw my KiwiSaver before I have found a specific property?
No. You need to have a specific property purchase underway to apply. Your application will require the address, purchase price, and your solicitor's details. You apply once you have an accepted offer and a settlement date confirmed. You cannot pre-apply while still looking.
What if my purchase falls through after I have applied?
If the purchase does not go ahead, your KiwiSaver provider will return the funds to your account. The withdrawal is not considered to have occurred and you retain your eligibility for a future first home withdrawal. Contact your provider as soon as possible if the purchase does not proceed.
Can I withdraw KiwiSaver if I am buying land to build on?
Yes. The first home withdrawal can be used to purchase residential land on which you intend to build a house to live in. It can also be used during the build process in some circumstances. The property (or planned property) must be in New Zealand and you must intend to live there. Check with your provider and solicitor for the specific documentation requirements for land and new build purchases.
NZ KiwiSaver Calculator 2026
What is the minimum KiwiSaver contribution rate in 2026?
From 1 April 2026, the minimum KiwiSaver employee contribution rate rose to 3.5% for new enrollees. Employers must also contribute a minimum of 3.5%. Available employee rates are 3%, 3.5%, 4%, 6%, 8%, or 10%.
How much is the NZ Government KiwiSaver contribution?
The NZ Government contributes up to $260.72 per year to your KiwiSaver if you contribute at least $1,042.86 over the year (1 July to 30 June). The government contribution is only available if your annual income is $180,000 or less.
What are the KiwiSaver fund types and their typical returns?
This calculator uses the FMA retirement projection assumptions, which are stated after fees and after 28% PIR tax: Defensive or Cash 1.5%, Conservative 2.5%, Balanced 3.5% and Growth 4.5%. Because the calculator applies your PIR and your account fee separately, it enters those same assumptions as before-tax, before-fee returns of Cash 2.64%, Conservative 4.03%, Balanced 5.42% and Growth 6.81%. Growth funds have higher long-term returns but more short-term volatility.
What is a Prescribed Investor Tax Rate (PIR)?
Your PIR is the tax rate applied to your KiwiSaver investment income. The standard PIR options are 10.5%, 17.5%, or 28%. Most KiwiSaver members pay 28%. Your PIR is based on your total taxable income from the previous two years.
Can I use my KiwiSaver to buy a first home?
Yes. After being a KiwiSaver member for at least 3 years, you can withdraw most of your balance to put toward your first home purchase. You must leave at least $1,000 in your KiwiSaver account.
NZ KiwiSaver Contribution Comparison 2026
What is the default KiwiSaver rate from April 2026?
The default KiwiSaver contribution rate increased from 3% to 3.5% on 1 April 2026, for both employees and employers. If you were on the 3% default, your rate automatically increased. You can apply to IRD via myIR for a temporary reduction back to 3% (no hardship test, lasts 3-12 months). The default will rise to 4% from 1 April 2028.
How much does increasing KiwiSaver reduce my take-home pay?
Each 1% increase in your KiwiSaver rate reduces your take-home by 1% of your gross salary. On a $65,000 salary, going from 3% to 3.5% costs $6.25 per week in take-home pay ($325 per year). Going from 3% to 8% costs $62.50 per week ($3,250 per year). However, your employer also increases their contribution (minimum matches your rate up to 3.5%, then stays at 3.5%).
Does my employer match my KiwiSaver contribution?
Your employer must contribute at least 3.5% (the new default from April 2026) regardless of your employee rate. If you contribute more than 3.5%, your employer is not required to match the higher amount, though some choose to. The employer contribution is paid on top of your salary and is subject to ESCT (Employer Superannuation Contribution Tax).
What is the government contribution to KiwiSaver?
From 1 July 2025 the government contributes 25 cents for every dollar you contribute, up to a maximum of $260.72 per year (halved from the previous 50 cents per dollar and $521.43 maximum). To get the full government contribution, you still need to contribute at least $1,042.86 per year. On a salary of $30,000 at 3.5%, your annual contribution is $1,050, which qualifies for the full amount. People earning over $180,000 no longer qualify.
Can I reduce my KiwiSaver rate back to 3%?
Yes. You can apply to IRD through myIR for a temporary rate reduction. No proof of financial hardship is required. The reduction lasts 3 to 12 months and can be reapplied for when it expires. Your employer can choose to match your reduced rate during this period.
NZ KiwiSaver vs Life Insurance Trade-off Calculator 2026
What is self-insurance age and why does it matter?
Your self-insurance age is the point at which your accumulated KiwiSaver balance plus other savings exceeds the life insurance cover you would need for your family. Before this age, life insurance is essential because your savings alone cannot replace your income or clear debts. After this age, you could technically self-insure - your savings would achieve what life insurance pays out. For most New Zealanders with stable KiwiSaver contributions and reducing debts, the self-insurance age falls between 55 and 62. Understanding this age helps you plan when to stop paying life insurance premiums and redirect that money to other goals.
Should I reduce life insurance cover to contribute more to KiwiSaver?
It depends on your life stage. At ages 25-40 with young children and large mortgages, maintaining full life cover is usually more important than extra KiwiSaver contributions - the cover gap if you die is catastrophic. At ages 50+ with growing KiwiSaver, smaller mortgage, and independent children, reducing life cover and redirecting premiums to KiwiSaver often makes better long-term sense. The calculation depends on your cover amount, premium, KiwiSaver return, and time horizon. A $55/month saved premium redirected to KiwiSaver at 7.8% average growth for 20 years becomes approximately $29,000.
What KiwiSaver fund return should I assume for long-term planning?
Use the 10-year annualised returns from the Morningstar KiwiSaver Survey as a realistic baseline. For the 10 years to mid-2025 these averaged: Conservative 4.1%, Moderate 4.6%, Balanced 6.4%, Growth 7.8%, Aggressive 8.6% (net of fees, before tax). These figures are long-term averages - annual returns vary significantly. For someone 20+ years from retirement, Growth or Aggressive is typically appropriate. For someone within 5 years of retirement, Conservative or Moderate reduces sequence-of-returns risk. Your PIR (Prescribed Investor Rate) will apply tax of 10.5%, 17.5%, or 28% to returns.
How does NZ Super factor into the life insurance decision?
NZ Super (effective 1 April 2026: approximately $553/week for a single person living alone, or $850/week combined for a couple, both after tax at M code) is the base income floor for retirees aged 65+. It is funded by the government, not asset-tested, and indexed annually to net average wage movements under the NZ Superannuation and Retirement Income Act 2001. For surviving dependents of a deceased partner, the surviving partner still receives their own NZ Super entitlement. NZ Super alone does not fund a comfortable retirement (Massey University Retirement Expenditure Guidelines 2025 show a gap of approximately $952 per week for metropolitan couples wanting a 'Choices' lifestyle), which is why KiwiSaver and savings matter - but NZ Super does reduce the burden on life insurance to provide ALL retirement income for a surviving partner.
What is the new KiwiSaver minimum contribution rate from April 2026?
From 1 April 2026, the minimum employee and employer contribution rates both increased from 3% to 3.5%, with a further increase to 4% scheduled from 1 April 2028. Employees can apply for a temporary rate reduction back to 3% for a period of 3 to 12 months through myIR (applications from 1 February 2026). 16-17 year olds became eligible for compulsory employer contributions from 1 April 2026. The government contribution is now 25% of your contribution up to a maximum of $260.72 per year (halved from 50% and $521.43 following Budget 2025), and people earning over $180,000 no longer receive it. These changes significantly improve retirement savings trajectories for most KiwiSaver members.
Choosing a KiwiSaver Fund
How do I choose a KiwiSaver fund?
Match the fund risk level to how long until you need the money and how comfortable you are with ups and downs; longer timeframes suit growth funds, shorter ones suit conservative funds.
What are the KiwiSaver fund types?
Defensive, conservative, balanced, growth and aggressive, set by how much is invested in growth assets like shares and property versus income assets like cash and bonds.
Do KiwiSaver fees matter?
Yes. Fees are charged every year on your balance and compound over decades, so for similar funds a lower fee leaves more in your pocket.
Can I switch KiwiSaver funds?
Yes, at any time, with no tax and usually no fee. You can change funds with your provider or switch to a new provider entirely.
KiwiSaver Fees Explained
How much are KiwiSaver fees?
Usually a percentage of your balance each year, varying by fund type and provider, with growth and active funds typically charging more than passive index funds.
Do KiwiSaver fees really matter?
Yes. Charged every year and compounding over a working life, even half a percent can cost many thousands of dollars by retirement.
How do I compare KiwiSaver fees?
Look at the total annual fee, not just one component, and compare funds of the same type against each other.
Can I reduce my KiwiSaver fees?
Yes, by switching to a lower-cost fund or provider of the same type. Switching is free and is not a taxable event.
Bonus to KiwiSaver Calculator NZ
Should I put my bonus into KiwiSaver?
A bonus is taxed as income either way. Putting the net amount into KiwiSaver lets it grow until retirement or a first home, but it is locked away. Taking it as cash keeps it accessible. The calculator compares the long-term growth against the cash today.
Is a bonus taxed if I put it in KiwiSaver?
Yes, a bonus is taxed as income, so this compares the after-tax bonus taken as cash with the same after-tax amount contributed to KiwiSaver and grown over time.
What is the catch with KiwiSaver?
KiwiSaver is locked until 65 or a first home, so the growth comes at the cost of access. If you might need the money sooner, that flexibility has real value.
ESCT Calculator NZ 2026
Why is my ESCT rate different from my income tax rate?
Because they use different bands and different income. Your income tax rate applies to what you earn this year. Your ESCT rate is set by your total remuneration in the previous tax year, which is your gross earnings plus the employer superannuation contributions you received, and the ESCT bands sit at different thresholds from the income tax ones. Someone on the 30% income tax rate is not necessarily on the 30% ESCT rate.
Does ESCT come out of my pay?
No. ESCT is deducted from the contribution your employer makes to your superannuation scheme, not from your wages, so it does not reduce your take-home pay and does not appear as a deduction on your payslip. What it reduces is the amount that lands in your KiwiSaver account, which is why an employer contribution of 3.5% arrives looking smaller than 3.5% of your pay.
What happens if my employer uses the wrong ESCT rate?
The correction is made through the employer payroll rather than in your personal tax return, because ESCT is the employer tax rather than yours. The two common errors are using this year salary instead of last year total remuneration, which pushes people who have had a pay rise into too high a band, and leaving the employer contributions out of that total, which understates it.
KiwiSaver 2026 Rate Change Calculator NZ
What is changing with KiwiSaver?
The default minimum KiwiSaver contribution rate is rising in steps from 3 percent toward 4 percent for both employees and employers over the next few years, which lifts how much goes into your retirement savings each pay.
How does the higher rate affect my pay?
Your employee contributions come from your pay, so a higher rate reduces your take-home pay by the extra contribution. Your employer also lifts its matching contribution, so more goes into your KiwiSaver overall, boosting your retirement balance.
What about the government contribution?
Alongside the rate rise, the annual government contribution has been reduced and an income cap added, so higher earners may no longer receive it. Check the current settings, as the rules around KiwiSaver have changed.
KiwiSaver Contribution Rate Calculator NZ
What KiwiSaver contribution rates can I choose?
From 1 April 2026 the default minimum is 3.5%, and employees can choose 3.5%, 4%, 6%, 8% or 10% of their gross pay (3% is available only as a temporary rate reduction through myIR). The higher the rate, the less your take-home now but the larger your balance grows over time, helped by your employer contribution and returns.
Does a higher rate get more employer money?
The employer contribution is a set percentage of your pay regardless of your own rate, so raising your rate does not increase the employer amount; it increases your own contribution. Check the current employer rate and government contribution rules.
How much difference does the rate make at retirement?
Over decades the difference is large, because higher contributions compound. A few percent more of your pay each year can add a substantial amount to your final balance, for a modest reduction in take-home now.
KiwiSaver Employer Contribution After ESCT Calculator NZ
What is ESCT?
Employer superannuation contribution tax, or ESCT, is the tax deducted from your employer's KiwiSaver contribution before it reaches your account. The rate depends on your total of salary plus employer contribution, from 10.5 up to 39 percent.
Does ESCT reduce my employer contribution?
Yes. The headline employer contribution, often 3.5 percent of your pay, has ESCT taken out, so the amount that actually lands in your KiwiSaver is less. The higher your income, the higher the ESCT rate and the more is deducted.
What are the ESCT rates?
The rate is set by your salary plus employer contribution: up to 18,720 is 10.5 percent, up to 64,200 is 17.5 percent, up to 93,720 is 30 percent, up to 216,000 is 33 percent, and above that 39 percent.
KiwiSaver Employer Rate Increase Calculator NZ
When does the KiwiSaver employer contribution rise to 4 percent?
In two steps. The default rate for employees and the matching employer contribution rose from 3 percent to 3.5 percent on 1 April 2026, and rises again to 4 percent on 1 April 2028. Employers should budget for the second step now, because it lands in a single pay run rather than phasing in.
Can an employee stay on 3 percent?
Temporarily. Someone who wants to keep contributing at 3 percent from 1 April 2026 can apply for a temporary rate reduction for between three and twelve months. The employer contribution matches the employee rate, so where a reduction is in place your cost for that person stays at the lower rate for the same period.
Is ESCT an extra cost on top of the contribution?
No. Employer superannuation contribution tax is deducted from the contribution and paid to Inland Revenue, so it changes what lands in the employee's account rather than what leaves your bank. Your cash cost is the gross contribution either way. It matters for explaining the benefit to staff, not for budgeting the cost.
KiwiSaver Fee Calculator NZ 2026
What is the KiwiSaver Fee Calculator NZ 2026?
Calculate the true annual and monthly cost of KiwiSaver fees. Enter your balance, annual management fee percentage, and monthly platform fee to see exactly what you are paying and compare providers.
Is the KiwiSaver Fee Calculator NZ 2026 free to use?
Yes. The KiwiSaver Fee Calculator NZ 2026 is free to use on Calculate.co.nz, with no sign-up, paywall or account required.
Is the KiwiSaver Fee Calculator NZ 2026 made for New Zealand?
Yes. It is built for New Zealand and uses current New Zealand rules and rates where they apply. Results are indicative estimates and not financial advice.
Use KiwiSaver for First Home vs Keep Invested Calculator NZ
Can I use my KiwiSaver for a first home?
Yes, after three years of membership you can withdraw most of your KiwiSaver for a first home deposit, leaving a minimum balance of 1,000 dollars. It is one of the main reasons KiwiSaver allows early access.
Is it better to use it or keep it invested?
Using it for a deposit means borrowing less and saving mortgage interest, which is a guaranteed saving at your mortgage rate. Keeping it invested means it keeps growing, but you borrow more. Which wins depends on your mortgage rate versus your expected return.
What is the catch?
You can usually only do a first-home withdrawal once, and you must leave a minimum balance. Using KiwiSaver also means restarting your retirement savings from a lower base, so weigh the home benefit against the long-term retirement impact.
KiwiSaver Fund Type Comparison Calculator NZ
Does my KiwiSaver fund type really matter?
Enormously over a long horizon. A growth fund averages a higher return than a conservative one, and compounded over decades that gap can mean tens or hundreds of thousands of dollars more at retirement, though with bigger ups and downs along the way.
Which fund type should I be in?
Generally, the longer until you need the money, the more growth you can handle, because you have time to ride out market falls. Closer to retirement or a first-home withdrawal, a more conservative fund protects against a downturn at the wrong time.
What returns should I assume?
Long-run averages after fees and tax are often around 2 to 4 percent for conservative funds and 4 to 6 percent for growth funds, but actual returns vary year to year. Use figures you are comfortable with and treat the result as a projection.
KiwiSaver Government Contribution Eligibility Calculator NZ
Do high earners get the KiwiSaver government contribution?
No. From 1 July 2025, members with a taxable income above $180,000 no longer qualify for the KiwiSaver government contribution. If your taxable income is $180,000 or less and you meet the other conditions (generally aged 18 to 65 and mainly living in New Zealand), you still receive 25 cents for every $1 you contribute, up to a maximum of $260.72 per year.
How much must I contribute to get the maximum KiwiSaver government contribution?
To receive the full $260.72 you need to contribute at least $1,042.86 of your own money into KiwiSaver during the contribution year (1 July to 30 June). The government pays 25 cents for every $1 you put in, so $1,042.86 multiplied by 0.25 equals $260.72. Only your own member contributions count. Employer contributions and the government contribution itself do not count towards this total.
What changed for the KiwiSaver government contribution in 2025?
Budget 2025 made two key changes that took effect from 1 July 2025. First, the matching rate halved from 50 cents to 25 cents for every $1 you contribute, which cut the annual maximum from $521.43 to $260.72. Second, members with a taxable income above $180,000 stopped qualifying for the government contribution. The amount of your own contributions needed to reach the maximum stayed at $1,042.86.
KiwiSaver Hardship Withdrawal Calculator NZ
Can I withdraw KiwiSaver for financial hardship?
Yes, in cases of significant financial hardship you can apply to withdraw part of your KiwiSaver, but you must prove the hardship and the amount is limited to what you need. Your provider, not you, decides based on the evidence.
What can I not withdraw in hardship?
You cannot withdraw the government contributions, the annual member tax credits paid into your account. You can generally access your own contributions, your employer's contributions and the returns, but not the government money.
Is a hardship withdrawal a good idea?
It is a last resort. Taking money out early reduces your retirement savings and the compounding you lose can be significant. Explore other options first, and get advice. Approval is not guaranteed and depends on your circumstances.
KiwiSaver Rate Change 3% to 4% Calculator NZ
Is it worth increasing my KiwiSaver rate?
Often yes. A small increase costs a modest amount each week now but compounds into a meaningful sum by retirement, especially with decades to grow. This tool shows both the weekly cost and the long-term gain so you can decide.
Does my employer match a higher rate?
Your employer must match up to the compulsory minimum. If you voluntarily contribute above the minimum, your employer is not required to match the extra, so the boost from going higher than the minimum is usually your own contribution alone.
How much does 1% extra cost me?
Going from 3 to 4 percent is an extra 1 percent of your pay. On a 65,000 dollar salary that is 650 dollars a year, about 12.50 a week, taken from your take-home pay, in exchange for a larger retirement balance.
KiwiSaver Retirement Projection Calculator NZ
What return should I use?
Use a realistic long run figure for your fund type, after fees and tax. A conservative fund might assume a lower return while a growth fund assumes more, and the example here uses 5 percent. Avoid using one strong year as your long run rate.
Does the projection account for inflation?
No. The figure is in future dollars, so it will buy less than the same amount today. To judge real spending power, mentally discount the result or compare it against your expected future costs.
Is the government contribution included?
Yes, you can enter the annual government contribution. It is capped each year, so it does not grow with a higher salary. The example uses the maximum annual amount of about $260.72 (halved from $521.43 on 1 July 2025).
KiwiSaver Savings Suspension Impact Calculator NZ
What is a KiwiSaver savings suspension?
A savings suspension lets you pause your KiwiSaver contributions for a set period once you have been a member for 12 months. While paused, neither you nor your employer contributes, so nothing goes into your account during that time.
What does pausing cost me?
You miss your own contributions and your employer's matching contributions for the pause, and you lose the growth those amounts would have earned over the years to retirement. The longer the pause and the longer until retirement, the bigger the cost.
When does a suspension make sense?
It can provide breathing room during genuine financial pressure, freeing up the contribution from your pay. But weigh it against the lost employer money and growth. A short pause costs far less than a long one.
KiwiSaver Temporary Rate Reduction Cost Calculator NZ
Can I lower my KiwiSaver rate temporarily?
Yes, you can choose a lower contribution rate from the available options and change it back later, which keeps some money going in while easing the squeeze on your pay, unlike a full suspension that stops contributions entirely.
How much does reducing my rate cost?
You miss the difference between your old and new contribution for the period you are reduced, plus the growth that money would have earned by retirement. A short reduction costs little; a long one at a much lower rate costs more.
Is reducing better than suspending?
Reducing keeps some contributions and, if you stay at or above the minimum, your employer keeps matching. A full suspension stops everything including the employer match. Reducing is usually the gentler option if you can manage it.
KiwiSaver to ETF Migration Calculator NZ
Should I leave KiwiSaver to invest in ETFs myself?
Rarely, while you are working. KiwiSaver gives you employer contributions and a government contribution that you simply do not get investing on your own, which is free money. DIY ETFs offer liquidity and control, but you give up those contributions.
What does this calculator compare?
It projects the balance from staying in KiwiSaver, including your employer and government contributions, against a DIY ETF account funded only by your own contributions, both growing at the same return, to show the gap the free money creates.
What is the catch with KiwiSaver?
KiwiSaver is locked until age 65, with limited exceptions for a first home or hardship, while ETFs are accessible any time. The trade-off is locked-up money plus free contributions versus flexible money without them.
KiwiSaver vs Debt Payoff Calculator NZ
Should I pay off debt or add to KiwiSaver?
Compare the rates. Paying off debt gives a guaranteed return equal to the interest rate you avoid, while extra KiwiSaver gives an expected but uncertain return. If your debt rate is higher than your expected KiwiSaver return, paying the debt usually wins.
Why is paying debt a guaranteed return?
Every dollar of high-interest debt you clear saves you that interest for certain, with no market risk. A 20 percent credit card paid off is effectively a guaranteed 20 percent return, which few investments can match reliably.
Does employer KiwiSaver money change this?
Contributing enough to get the full employer and government contributions is usually worth it first, because that is free money. Beyond that minimum, extra voluntary KiwiSaver competes directly with paying down debt on the rates alone.
KiwiSaver vs Mortgage Calculator NZ
Should I pay down my mortgage or add to KiwiSaver?
Paying down the mortgage gives a guaranteed return equal to your mortgage rate. Extra KiwiSaver can attract employer and government contributions and market growth, but is locked away. The calculator compares the value each builds.
What makes KiwiSaver attractive here?
For employees, extra KiwiSaver may bring an employer contribution and the annual government contribution, which are free additions, plus long-term growth. The catch is you cannot access it until 65 or a first home.
What makes paying the mortgage attractive?
It is a guaranteed, risk-free return at your mortgage rate, it frees up cash flow sooner, and the money is not locked away in the same way KiwiSaver is.
KiwiSaver Withdrawal at 65 Tax Calculator NZ
Is KiwiSaver taxed when I withdraw it at 65?
No. Withdrawing your KiwiSaver at 65 is tax-free, because the investment earnings were already taxed each year inside the fund at your prescribed investor rate. There is no lump-sum tax on the money you take out.
Are earnings still taxed if I leave money in?
Yes. If you leave your balance invested and draw it down gradually, the fund keeps earning and that income is still taxed at your PIR inside the fund. It is only the act of withdrawing that is tax-free, not the ongoing earnings.
Should I take a lump sum or drawdown?
You can take it all at once or leave it invested and draw down regular amounts, which can keep your money working and provide an income. This tool shows the monthly income a drawdown of your balance could provide over a chosen period.
Managed Fund vs KiwiSaver Calculator NZ
Should I invest in a managed fund or KiwiSaver?
KiwiSaver can attract employer and government contributions that a managed fund does not, which is a strong boost. But KiwiSaver is locked until 65 or a first home, while a managed fund stays accessible. The right choice depends on whether you need access.
What does KiwiSaver add that a fund does not?
For employees, KiwiSaver contributions are usually matched by an employer contribution, and there is an annual government contribution if you meet the criteria. These are free additions a managed fund does not provide.
When is a managed fund better?
When you may need the money before retirement or a first home, since a managed fund is not locked away. The flexibility can outweigh the KiwiSaver contributions for goals along the way.
NZ Super plus KiwiSaver Combined Income Calculator NZ
How do NZ Super and KiwiSaver work together?
NZ Super provides a base government income from 65, and you draw down your KiwiSaver balance on top to lift your income to the level you want. Together they form most people's retirement income, alongside any other savings.
How much can my KiwiSaver add each year?
It depends on your balance, how long you want it to last, and the return on the money still invested. Drawing it down over a set number of years gives a regular income; the larger the balance and the longer it lasts, the more it adds.
Will my KiwiSaver run out?
If you draw a fixed income that exhausts the balance over your chosen period, yes, by design. Drawing less, or only the returns, makes it last longer. This tool spreads the balance evenly over the years you choose.
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Every question the site answers
Answers are gathered from the calculators and guides listed above and are general information, not advice. Last reviewed 2026-09-06. See also the finance glossary, the guides and the reference data.