Free KiwiSaver Retirement Calculator for New Zealanders
Project your KiwiSaver balance at retirement. Includes your contributions, the 3.5% minimum employer match (rising to 4% in 2028), the $260.72 annual government contribution, and a return assumption you set.
Your KiwiSaver
Based on age 35, current balance $45,000, salary $80,000 with 3.5% contributions.
About our KiwiSaver Retirement Calculator
Most of your KiwiSaverKiwiSaverNZ workplace retirement savings scheme. From 1 April 2026, minimum employee and employer contributions are both 3.5% of gross pay (rising to 4% in 2028); the government adds 25c per $1, capped at $260.72/yr.View in glossary → balance at retirement is investment return, not what you put in. On a $72,000 salary contributing 4%, the cash that flows in each year is roughly $5,660 across employee, employer, and government. Over 37 years at a 5.5% return, those annual contributions compoundCompound interestInterest earned on the original principal plus all previously earned interest.View in glossary → to about $645,000, while the same $5,660 a year laid end-to-end without any growth would total only $209,000.
The calculator turns the four levers (current balance, salary, contribution rate, expected return) into a single projected balance at 65. It applies the new 1 April 2026 minimums (3.5% employee, 3.5% employer) and the July 2025 government contribution rule (25 cents per dollar of member contribution, capped at $260.72 a year).
Move the contribution slider to see how stepping up from 3.5% to 4%, 6%, 8%, or 10% changes the projection. Push the return rate up or down to bracket a realistic range against the FMA’s published fund returns.
How to use it
Enter your current age and your current KiwiSaver balance. The age sets how many years are left until 65; the balance is the lump sum that compounds untouched over those years.
Set your salary and pick a contribution rate (3.5%, 4%, 6%, 8%, or 10%). The calculator multiplies salary by the rate to get your annual employee contribution and adds the 3.5% employer match plus the government top-up.
Pick an expected return. The default 5.5% is a long-run illustrative figure that sits between conservative and growth fund expectations; subtract your fund’s annual fee for a more conservative number.
The result panel shows the projected balance at 65, plus a breakdown of how much came from your contributions, employer contributions, government top-ups, and investment returns.
Why use it
Two of the most common KiwiSaver questions are "is the rate I contribute making any real difference?" and "if I bump my contribution up by one percentage point, what does that do at the end?" Both are easier to answer once the numbers are in front of you.
Stepping from 3.5% to 4% on a $72,000 salary adds $360 a year in employee contribution. Compounded over 37 years at 5.5%, that turns into roughly $40,000 of extra balance at 65. Stepping from 4% to 6% turns the per-year cost into $1,440 and the eventual extra balance into roughly $160,000.
The same calculator also makes the 1 April 2026 default rate change visible. If you stay on the old 3% rate by sliding to "Off" and adding 3% manually elsewhere, the figure looks different from the new 3.5% default. Real default contributors have moved to 3.5%, so for most readers the headline figure here is the more accurate baseline.
The maths behind it
FV = B(1+r)n + C × ((1+r)n − 1) / r B is your starting balance. C is the annual total contribution (employee, plus 3.5% employer match, plus the $260.72 government contribution if you contribute at least $1,042.86 of your own). r is the annual return rate, n is the years to age 65. The first term grows your existing balance. The second term is the future value of an annual contribution stream. The maths assumes contributions go in at the end of each year and the return rate stays constant. Real returns vary; KiwiSaver providers report quarterly.
Worked example
Aroha, marketing manager in Napier, age 28 with $18,000 in KiwiSaver and a $72,000 salary.
Aroha is 28 and contributes 4% of her $72,000 salary to a balanced KiwiSaver fund. She has 37 years to her first NZ Super payment at 65.
Each year, $2,880 goes in from her pay, $2,520 from her employer at the 3.5% match, and $260.72 from the government. Total annual contribution is $5,661.
Assuming a 5.5% average annual return after fees, her existing $18,000 grows to roughly $131,000. Her annual contributions compound to roughly $647,000 over the 37 years.
Her projected balance at 65 lands near $778,000 in nominal dollars. About 83% of that figure is investment growth; the contributions themselves total $209,000.
Things to keep in mind
- Returns are not guaranteed. The 5.5% default is a long-run illustrative figure. Real KiwiSaver returns swing year to year; growth funds have averaged higher long-term, conservative funds lower, with bigger swings in the growth case. The FMA publishes audited returns by fund.
- Fees compound against you. Annual fund fees of 1% knock roughly 25% off a 30-year projected balance because the missing fees would otherwise have compounded too. The calculator shows pre-fee returns; subtract your fund’s fee from the input return for a more honest projection.
- Salary growth is not modelled. The calculator assumes your salary stays flat in nominal terms. In practice salary tends to rise faster than inflation early in a career and slower later. The projection therefore tends to understate the eventual balance for younger users.
- Government contribution rule changed. Since 1 July 2025 the government contribution pays 25 cents per dollar of member contribution, capped at $260.72 a year. The previous 50-cents-per-dollar / $521.43-cap formula no longer applies.
- Contribution minimums are rising. From 1 April 2026 the minimum employee and employer rates each rise to 3.5%, then to 4% from 1 April 2028. Existing 3% members transition over this window.
NZ-specific notes
FAQs
What return rate should I use?
The calculator’s 5.5% default is a long-run illustrative figure that sits between conservative and growth fund expectations. The FMA reports five-year and ten-year returns by fund category; the most recent annual report is a sense-check against the figure you enter. Lower the input rate by your fund’s annual fee for a more conservative view.
Why is the government contribution lower than I remember?
The maximum dropped from $521.43 to $260.72 from 1 July 2025, and the matching rate changed from 50 cents to 25 cents per dollar of member contribution. The threshold to maximise it (member contributions of $1,042.86 or more in the KiwiSaver year) has not changed.
What about the new minimum contribution rates?
From 1 April 2026 the minimum employee and employer rates each step up from 3% to 3.5%. They rise again to 4% from 1 April 2028. If you have been contributing 3%, your default rate moves to 3.5% on the change-over date, unless you actively choose a higher rate.
Does the figure include NZ Super?
No. The projected balance at 65 is your KiwiSaver fund only. NZ Super pays a flat fortnightly amount on top, regardless of KiwiSaver, indexed to wage growth. Use the NZ Super calculator for the Super side.
How does the First Home Withdrawal affect my projection?
Withdrawing for a first home resets your starting balance back toward $1,000 (the minimum that has to remain in the fund). The calculator does not model a withdrawal mid-career; if you plan to use the First Home Withdrawal, project from the post-withdrawal balance forward.
What happens to KiwiSaver if I move overseas?
Permanent emigration to Australia lets you transfer KiwiSaver to an Australian super fund. Permanent emigration anywhere else lets you withdraw most of the balance after a one-year wait, minus the government contribution. The calculator assumes you stay in NZ.
Are the contributions taxed?
Employee contributions come out of after-tax income (already PAYE-deducted, so no extra tax). Employer contributions are subject to ESCT, which the employer pays on top. Returns inside the fund are taxed at your PIR (10.5%, 17.5%, or 28%).
References & sources
- Inland Revenue, "KiwiSaver changes (April 2026 contribution rate increases and government contribution rule from July 2025)". ird.govt.nz
- Financial Markets Authority, "KiwiSaver annual report". fma.govt.nz
- Te Ara Ahunga Ora Retirement Commission, "Retirement expenditure research". retirement.govt.nz
- Inland Revenue, "Buying my first home (First Home Withdrawal)". ird.govt.nz