NZ Super Income Gap Calculator

This calculator works out the gap between the retirement income you want and what NZ Super provides, and the savings pot you would need to fill that gap. NZ Super is the government pension paid from sixty-five, and for most New Zealanders it forms the foundation of retirement income, but it is designed to cover the basics rather than the lifestyle most people picture. That leaves a gap between NZ Super and your target income, and the job of your savings, especially KiwiSaver, is to fill it. Putting a number on that gap is the first step to knowing whether you are on track. You enter the annual retirement income you are aiming for and the annual NZ Super you expect to receive after tax, and the calculator shows the yearly gap, the weekly equivalent, and the size of the savings pot you would need to sustain that gap, using the common rule of drawing about four percent a year, which means a pot of roughly twenty-five times the annual gap. Use it to set a savings target and to sense-check whether your KiwiSaver and other savings are heading toward it. NZ Super rates change with the cost of living and your living situation, so use your expected after-tax figure. This is general information, not financial advice.

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$575,000
savings pot needed to fill the gap
Annual income gap$23,000
Weekly gap$442

Pot is the annual gap divided by your withdrawal rate (about 25 times the gap at 4%). NZ Super rates change; use your expected after-tax figure. General information only.

How it works

The annual income gap is your target income minus the NZ Super you expect. The weekly gap is that divided by 52. The savings pot needed is the annual gap divided by your withdrawal rate, so at a 4 percent rate the pot is 25 times the gap, the amount that could sustain the gap income indefinitely on the standard rule of thumb.

Worked example

Targeting 50,000 dollars a year with 27,000 dollars of NZ Super leaves a 23,000 dollar gap, about 442 dollars a week. At a 4 percent withdrawal rate, you would need a pot of about 575,000 dollars to fill it.

Related calculators

Data sources: the rates and thresholds on this page are maintained against Work and Income. Figures are checked twice monthly.

Frequently asked questions

How much is NZ Super?

NZ Super is a government pension paid from age 65, at a rate set by your living situation. A single person living alone receives more than each member of a couple. It is taxed, and the after-tax amount is what counts toward your retirement income.

Will NZ Super be enough?

For most people it covers the basics but not the lifestyle they want, leaving a gap between NZ Super and their target income. Savings such as KiwiSaver are needed to fill that gap. This tool shows the size of the gap and the pot required.

How big a pot do I need for the gap?

A common rule is that a pot of 25 times the annual gap, drawn at about 4 percent a year, can sustain the income. So a 23,000 dollar gap implies a pot of around 575,000 dollars, though the right figure depends on your return and lifespan.