KiwiSaver Calculator NZ
Project your New Zealand KiwiSaver balance at retirement including employer contributions, Government Member Tax Credits, and compound investment returns.
About the KiwiSaver Calculator NZ
KiwiSaver is New Zealand's voluntary workplace retirement savings scheme, introduced in 2007. Members contribute a percentage of their gross salary (3%, 4%, 6%, 8%, or 10%) from each pay packet. Employers must match contributions at a minimum of 3% of gross wages. The government also provides a Member Tax Credit (MTC) of 50 cents for every dollar of member contributions, up to NZ$521.43 per year.
Despite being voluntary, KiwiSaver is near-universal in New Zealand due to automatic enrolment of new employees. Funds are invested by KiwiSaver scheme providers in a range of investment options — Conservative, Balanced, Growth, and Aggressive — and cannot be accessed until age 65 (the NZ superannuation eligibility age) except for specific hardship situations, first home purchase, or serious illness.
Our KiwiSaver calculator projects your balance at retirement using your current balance, salary, contribution rate, employer contribution, and assumed investment return. It also shows the Government MTC component, which is essentially free money that many New Zealanders underappreciate. Contributing at least $1,043 per year ($43 per fortnight) is needed to qualify for the full $521.43 MTC.
How KiwiSaver Works
KiwiSaver contributions flow directly from your pay into your chosen scheme. Your employer deducts your contribution from your gross salary before paying you and adds their own 3% employer contribution (which is in addition to your salary, not deducted from it). Both contributions are paid to the IRD, which forwards them to your KiwiSaver scheme provider. The Government MTC is paid annually by the IRD, based on your member contributions in the previous year (July to June).
KiwiSaver funds are invested according to your chosen investment mix. All registered KiwiSaver schemes offer at least one default fund (usually Balanced or Conservative), and most offer multiple options. The investment return on KiwiSaver funds is after fees and after a 28% Prescribed Investor Rate (PIR) tax on investment income. Conservative funds have lower expected returns but less volatility; Growth and Aggressive funds have higher expected returns but can experience significant short-term losses.
First home withdrawal is one of the most popular features of KiwiSaver. Members who have been in KiwiSaver for at least three years can withdraw all contributions (their own, employer, and government) to put toward purchasing their first home, leaving a minimum $1,000 in the account. The First Home Grant (administered separately by Kāinga Ora) provides additional assistance of up to $10,000 for eligible KiwiSaver members purchasing existing homes or up to $20,000 for new builds.