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Retirement Income Calculator

Estimate your retirement income from NZ Super and KiwiSaver drawdowns. Check if your savings will last and plan for a comfortable retirement in Aotearoa.

By Konstantin IakovlevPublished 28 March 2026Last reviewed
Data stays on your deviceMSD / WINZ data

About this calculator

This calculator implements NZ retirement modelling + NZ Super rates from Sorted (CFFC) + Work and Income. Last consulted 28 February 2026. Verify the figures yourself by following the link.

Current NZ retirement income rates

FY 2026-27 (rates from 1 April 2026)
  • •NZ Super single alone (M tax): $549/wk · $28,548/yr
  • •NZ Super single sharing: $507/wk · $26,364/yr
  • •NZ Super couple (each): $422/wk each · $43,888/yr couple
  • •Eligibility age: 65
  • •Residency requirement: 10+ yrs in NZ since age 20 (incl 5 after 50)
  • •Sustainable withdrawal rate (4% rule): 4% pa lasts ~30+ years

Source: WINZ — NZ Super

Disclaimer

This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available IRD data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.

How retirement income is calculated

Combines NZ Super ($549/wk single) with sustainable withdrawals from your KS/savings. Common rule: 4% withdrawal rate sustains a balance for 30+ years.

  1. 1

    NZ Super weekly payment

    Single alone $549 · Single sharing $507 · Couple (each) $422 per week

    After tax (M tax code). Plus winter energy payment May-Oct.

  2. 2

    Annual NZ Super

    Annual = weekly_rate × 52

    Single alone ~$28,548/yr after tax.

  3. 3

    Sustainable withdrawal from savings (4% rule)

    Annual_withdrawal = retirement_balance × 4%

    4% rule = balance lasts 30+ years with conservative returns.

  4. 4

    Total annual retirement income

    Total = NZ_Super + (balance × withdrawal_rate)

    Income gap below desired lifestyle = need higher KS balance or work longer.

Worked example

Inputs: $500k KS at 65, NZ Super single alone, 4% rule

Result: Super $28,548 + 4% × $500k = $20,000 = $48,548/yr (~$934/wk).

Frequently Asked Questions

How much is NZ Superannuation in 2026-27?
As of April 2025, NZ Superannuation rates are: $519.06 per week (after tax at the M rate) for a single person living alone; $477.35 per week for a single person sharing accommodation; and $399.07 per person per week for couples (both receiving Super). These rates are adjusted each 1 April and are linked to movements in the average ordinary time weekly earnings (AOTWE), ensuring Super keeps pace with wage growth. NZ Super is paid fortnightly by Work and Income NZ (WINZ) directly into your bank account. The amounts above are after-tax figures at the standard M tax code; if you have other income, you may need a different tax code (such as M SL if you have a student loan, or SA if Super is your only income). The rates are reviewed annually as part of the government's Budget process. Source: Work and Income NZ — NZ Super Rates (workandincome.govt.nz).
At what age can I access NZ Superannuation?
You can access NZ Superannuation (NZ Super) from age 65. Unlike many other countries' pension systems, NZ Super has no means test — there is no income test and no asset test. You are entitled to NZ Super purely based on your age and residency. To qualify, you must be: 65 years or older; a NZ citizen, permanent resident, or resident visa holder; and normally living in New Zealand (or in a country with a Social Security Agreement with NZ). You must have also lived in NZ for at least 10 years since turning 20, with 5 of those years being after the age of 50. There is no requirement to have retired or stopped working — you can receive NZ Super while still fully employed. Applications can be made up to 12 weeks before your 65th birthday through Work and Income NZ. Source: Work and Income NZ — NZ Superannuation (workandincome.govt.nz).
How much KiwiSaver do I need to retire comfortably in NZ?
Sorted.org.nz estimates that a comfortable retirement in NZ requires approximately $70,000 to $300,000 or more in savings, depending on your desired lifestyle and how much NZ Super covers your needs. NZ Super (around $519/week single, $798/week couple in 2025) covers basic living costs but may not fund discretionary spending such as travel, hobbies, or home maintenance. The Sorted retirement calculator suggests that a couple wanting a "comfortable" retirement (Sorted's moderate level) may need $300,000+ in additional savings, while a couple happy with a modest lifestyle supplementing NZ Super may need far less. The required savings depend on: your retirement age; how long you live; your expected expenses; whether you own your home (renters need significantly more); and investment returns during drawdown. KiwiSaver funds can be drawn down flexibly in retirement. Source: Sorted NZ (sorted.org.nz); Commission for Financial Capability.
Can I work while receiving NZ Superannuation?
Yes — NZ Superannuation has no income test and no assets test, which means you can earn any amount of income from employment, self-employment, investments, or other sources while receiving the full NZ Super payment. This is a significant difference from many overseas pension systems, where benefits are reduced or abated as income rises. In New Zealand, receiving NZ Super while working is entirely legal and common, particularly as more people choose to work part-time or in a reduced capacity past 65. The only consideration is tax: if you have employment income in addition to NZ Super, you will need to ensure you are on the correct tax code (the default M code for Super may not be appropriate if you have other income, and you may need to use the Special Tax Code or file an end-of-year return). There is no upper age limit for working in New Zealand. Source: Work and Income NZ (workandincome.govt.nz); IRD (ird.govt.nz).

The NZ Superannuation provides a government-funded retirement income from age 65. In 2026-27, the after-tax NZ Super rate is $27,968/year ($538/week) for a single person living alone, and $42,966/year ($826.27/week) for a couple. This calculator estimates total retirement income from NZ Super plus KiwiSaver and other savings.

How this calculator works

Total retirement income = NZ Super + KiwiSaver drawdown + other savings drawdown. KiwiSaver drawdown = (balance at 65 / expected retirement years). Retirement gap = desired income minus total estimated income.

NZ Superannuation Rates 2026-27 (after tax, M code)

Single person living alone$27,968/yr ($538.00/wk)
Single person sharing accommodation$25,765/yr ($495.67/wk)
Couple (both qualify)$42,966/yr ($826.27/wk combined)
Qualifying age65
NZ residency required10 years (including 5 years since age 50)
KiwiSaver accessible fromAge 65

NZ Super rates are reviewed annually. Rates shown are indicative for 2026-27.

Worked Examples

Single person, KiwiSaver balance $200,000 at age 65, expecting 25-year retirement

Estimated total retirement income: $35,968/year ($692/week).

  1. NZ Super (single, living alone): $27,968/yr
  2. KiwiSaver drawdown: $200,000 / 25 years = $8,000/yr
  3. Total income: $27,968 + $8,000 = $35,968/yr
  4. Average NZ retiree spending estimate: ~$30,000–$35,000/yr (modest lifestyle)
  5. Retirement gap vs comfortable lifestyle (~$45,000): ~$9,000/yr shortfall
  6. Consider part-time work, investment income, or larger KiwiSaver balance

Couple, combined KiwiSaver $400,000 at age 65, expecting 25-year retirement

Estimated total retirement income: $58,966/year ($1,134/week combined).

  1. NZ Super (couple, both qualify): $42,966/yr
  2. KiwiSaver drawdown: $400,000 / 25 years = $16,000/yr
  3. Total income: $42,966 + $16,000 = $58,966/yr
  4. Comfortable couple lifestyle estimate: ~$60,000–$70,000/yr
  5. Retirement gap: approximately $1,034–$11,034/yr
  6. Additional savings or investment property income could bridge the gap

Built and maintained by Konstantin Iakovlev. Data sourced from the IRD and official New Zealand government sources.

Last reviewed:

Official Sources

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