KiwiSaver Withdrawal at 65 Tax Calculator

This calculator clears up the tax on withdrawing your KiwiSaver at sixty-five in New Zealand, and shows the monthly income a gradual drawdown of your balance could provide. The good news, and the headline for anyone approaching retirement, is that there is no tax to pay when you withdraw your KiwiSaver. Unlike some overseas retirement schemes that tax lump sums on the way out, KiwiSaver earnings are taxed each year inside the fund at your prescribed investor rate, so the money has already been taxed as it grew, and you can take the whole balance out at sixty-five completely tax-free. What you then do with it is the real decision: take it all as a lump sum, or leave it invested and draw down a regular income so the remaining balance keeps working for you. You enter your KiwiSaver balance at sixty-five, the number of years you want the drawdown to last, and the return you expect on the money left invested, and the calculator confirms the lump sum is available tax-free and shows the monthly income a steady drawdown would provide over that period. Note that while withdrawals are tax-free, any earnings on the balance you leave invested are still taxed at your PIR. This is general information, not financial advice.

Withdrawals at 65 are tax-free. Earnings on any balance you leave invested are still taxed at your PIR inside the fund. General information, not financial advice.