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New Zealand · NZD · Pension guide

New Zealand retirement calculator

Combine a confirmed NZ Super amount with accessible KiwiSaver and other savings. Explore the gap before payments start and the spending your savings can support afterwards.

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What can this calculator estimate?

It compares spending, manually entered pensions and accessible savings in NZD, in today's purchasing power.

Use your own after-tax pension estimate. Read the full example

Compare invented scenarios. Amounts are not forecasts or entitlement calculations.

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Read the assumptions

02Your retirement, in view

Today's money

Worked example. Change the inputs to explore your plan.

From age 65 to 66 · 12 modelled months · NZD

12-month retirement spending estimate

NZ$36,916

After tax · today's money

Average per monthNZ$3,076
Income you entered
+ NZ$0
From savings or pension pot
+ NZ$36,916

A level budget through age 95 under your assumptions. It can use up savings and leaves no inheritance reserve. Review each year; this is not a guaranteed spending amount.

See the 12-month breakdown

Rounded monthly averages, not actual payment dates. Income above this budget is not reinvested.

From age 65 to 66 · 12 modelled months. After tax · today's money.
MonthIncome you enteredFrom savings or pension potSpending budgetSavings left
1NZ$0NZ$3,076NZ$3,076NZ$836,998
2NZ$0NZ$3,076NZ$3,076NZ$835,277
3NZ$0NZ$3,076NZ$3,076NZ$833,553
4NZ$0NZ$3,076NZ$3,076NZ$831,827
5NZ$0NZ$3,076NZ$3,076NZ$830,098
6NZ$0NZ$3,076NZ$3,076NZ$828,366
7NZ$0NZ$3,076NZ$3,076NZ$826,631
8NZ$0NZ$3,076NZ$3,076NZ$824,893
9NZ$0NZ$3,076NZ$3,076NZ$823,153
10NZ$0NZ$3,076NZ$3,076NZ$821,409
11NZ$0NZ$3,076NZ$3,076NZ$819,663
12NZ$0NZ$3,076NZ$3,076NZ$817,914

Savings left after 12 months: NZ$817,914

How this budget is calculated ↗

The projection below follows your entered spending or withdrawal plan; this budget is a separate estimate.

Accessible savings at retirement · 65

NZ$838,716

Today's money · After tax, in today's money.

Monthly gap · first retirement yearNZ$3,800
Savings needed at retirementNZ$1,036,002
Additional savings neededNZ$197,286

At retirement, under these assumptions. This is not an extra monthly contribution.

Your accessible savings over time

Today's money
Your accessible savings over time · NZDThe annual table below contains the same projection.0209.7k419.4k629k838.7k4558708395
Projected savings balance · NZDRetirement · 65

The first spending shortfall appears around age 87.8. Later pension payments may change the gap.

Pensions are set to zero. Add your estimates to include them.

See the year-by-year breakdown
All amounts after tax, in today's money. Age is at year end. Pension surplus is not reinvested.
Age at year endPhaseSavings addedReal growthPension incomeSavings withdrawnUnfunded spendingSavings left
46SavingNZ$11,400NZ$7,553NZ$0NZ$0NZ$0NZ$398,953
47SavingNZ$11,400NZ$7,925NZ$0NZ$0NZ$0NZ$418,278
48SavingNZ$11,400NZ$8,304NZ$0NZ$0NZ$0NZ$437,981
49SavingNZ$11,400NZ$8,690NZ$0NZ$0NZ$0NZ$458,071
50SavingNZ$11,400NZ$9,084NZ$0NZ$0NZ$0NZ$478,555
51SavingNZ$11,400NZ$9,486NZ$0NZ$0NZ$0NZ$499,441
52SavingNZ$11,400NZ$9,895NZ$0NZ$0NZ$0NZ$520,736
53SavingNZ$11,400NZ$10,313NZ$0NZ$0NZ$0NZ$542,448
54SavingNZ$11,400NZ$10,738NZ$0NZ$0NZ$0NZ$564,587
55SavingNZ$11,400NZ$11,172NZ$0NZ$0NZ$0NZ$587,159
56SavingNZ$11,400NZ$11,615NZ$0NZ$0NZ$0NZ$610,174
57SavingNZ$11,400NZ$12,066NZ$0NZ$0NZ$0NZ$633,640
58SavingNZ$11,400NZ$12,526NZ$0NZ$0NZ$0NZ$657,567
59SavingNZ$11,400NZ$12,996NZ$0NZ$0NZ$0NZ$681,962
60SavingNZ$11,400NZ$13,474NZ$0NZ$0NZ$0NZ$706,836
61SavingNZ$11,400NZ$13,962NZ$0NZ$0NZ$0NZ$732,198
62SavingNZ$11,400NZ$14,459NZ$0NZ$0NZ$0NZ$758,057
63SavingNZ$11,400NZ$14,966NZ$0NZ$0NZ$0NZ$784,423
64SavingNZ$11,400NZ$15,483NZ$0NZ$0NZ$0NZ$811,306
65SavingNZ$11,400NZ$16,010NZ$0NZ$0NZ$0NZ$838,716
66RetirementNZ$0NZ$16,037NZ$0NZ$45,600NZ$0NZ$809,153
67RetirementNZ$0NZ$15,457NZ$0NZ$45,600NZ$0NZ$779,010
68RetirementNZ$0NZ$14,866NZ$0NZ$45,600NZ$0NZ$748,277
69RetirementNZ$0NZ$14,264NZ$0NZ$45,600NZ$0NZ$716,940
70RetirementNZ$0NZ$13,649NZ$0NZ$45,600NZ$0NZ$684,990
71RetirementNZ$0NZ$13,023NZ$0NZ$45,600NZ$0NZ$652,412
72RetirementNZ$0NZ$12,384NZ$0NZ$45,600NZ$0NZ$619,196
73RetirementNZ$0NZ$11,733NZ$0NZ$45,600NZ$0NZ$585,329
74RetirementNZ$0NZ$11,069NZ$0NZ$45,600NZ$0NZ$550,798
75RetirementNZ$0NZ$10,392NZ$0NZ$45,600NZ$0NZ$515,589
76RetirementNZ$0NZ$9,701NZ$0NZ$45,600NZ$0NZ$479,691
77RetirementNZ$0NZ$8,997NZ$0NZ$45,600NZ$0NZ$443,088
78RetirementNZ$0NZ$8,280NZ$0NZ$45,600NZ$0NZ$405,768
79RetirementNZ$0NZ$7,548NZ$0NZ$45,600NZ$0NZ$367,715
80RetirementNZ$0NZ$6,802NZ$0NZ$45,600NZ$0NZ$328,917
81RetirementNZ$0NZ$6,041NZ$0NZ$45,600NZ$0NZ$289,358
82RetirementNZ$0NZ$5,265NZ$0NZ$45,600NZ$0NZ$249,024
83RetirementNZ$0NZ$4,474NZ$0NZ$45,600NZ$0NZ$207,898
84RetirementNZ$0NZ$3,668NZ$0NZ$45,600NZ$0NZ$165,966
85RetirementNZ$0NZ$2,846NZ$0NZ$45,600NZ$0NZ$123,212
86RetirementNZ$0NZ$2,008NZ$0NZ$45,600NZ$0NZ$79,619
87RetirementNZ$0NZ$1,153NZ$0NZ$45,600NZ$0NZ$35,172
88RetirementNZ$0NZ$296NZ$0NZ$35,468NZ$10,132NZ$0
89RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
90RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
91RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
92RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
93RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
94RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0
95RetirementNZ$0NZ$0NZ$0NZ$0NZ$45,600NZ$0

Educational estimates. Not personal financial advice. Manual pension amounts. No eligibility, tax calculation or future benefit reassessment. This model assumes steady returns and is not a probability of success.

Two years before NZ Super

Our worked example separates the years before an entered pension begins from the years after it starts. Every amount and age is invented. It is a calculation illustration, not a typical pension, an entitlement estimate or a recommended retirement age. Do not enter KiwiSaver withdrawals as extra income if the KiwiSaver balance is already included in savings.

Read the full example
Understand the pension system

New Zealand

Common questions

Does this check the NZ Super residence test?

No. Use Work and Income for that assessment. Overseas pensions may affect your payment and must be considered before entering a net amount.

Which money can I count as savings?

Include only capital you can draw on for this plan, after allowing for access restrictions and taxes outside the model. Exclude property you will not sell and assets already used to fund an entered pension payment. Future lump sums are not modelled.

Do pension payments keep pace with inflation?

The illustration holds payments constant in today's purchasing power. Your actual pension may have different increases, caps or no indexation. Test a lower real payment as a separate scenario if needed; this tool does not forecast those rules.

Are my financial inputs stored?

Your figures are calculated in your browser. They are not uploaded or saved in the address bar. Only public, invented example identifiers appear in example links. CSV exports are created on your device.

Methodology · 1.0

Methodology

12-month retirement spending estimate

Already retired? Set the stop-work age equal to your current age to estimate the next 12 months. Otherwise the estimate starts at your chosen retirement age.

Rounded monthly averages, not actual payment dates. Income above this budget is not reinvested.

How this budget is calculated ↗

One consistent money basis

All inputs and results use today's purchasing power. Enter net pension payments and spending after tax. The net return is nominal, after investment taxes and fees. Monthly real growth factor = ((1 + net return / 100) / (1 + inflation / 100))^(1/12). Savings contributions remain constant in real terms and arrive at month-end until retirement.

How the income gap is funded

From retirement, the monthly gap is max(0, spending − active pension payments). Savings grow first, then a month-end withdrawal funds the gap up to the available balance. Excess pension income is not reinvested. The capital needed at retirement is the sum of these future gaps discounted at the monthly real return; no future pension is borrowed against.

What the estimate leaves out

Amounts stay constant in real terms: the model assumes payments keep pace with inflation, which your actual pension may not do. Ages use whole years; no calendar dates, pension accrual, changing taxes, benefit offsets, future lump sums, market volatility or inheritance target are modelled. Income before your entered retirement age is excluded. Changing a start age does not recalculate the payment amount. Only combine streams that share the same dates.

Official sources & pension overviews

Sources checked . Manual pension amounts. No eligibility, tax calculation or future benefit reassessment. This model assumes steady returns and is not a probability of success.

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