Working out how much you'll need

As you get closer to retirement, you’ll be starting to think about how you’re going to manage after you stop working.

You could be eligible for New Zealand Superannuation. Currently, a single retired person receives New Zealand Superannuation of about $24,700 a year (before tax). Married or de facto couples receive about $37,400 a year (before tax). That works out to be about $18,700 per person (before tax). There’s no guarantee that New Zealand Superannuation will continue to be offered. Chances are, you’ll need to supplement your New Zealand Superannuation with additional income, and that’s where KiwiSaver can help. 


How much you’ll need depends on many things – not least the amount of time you’re likely to live for and the kind of lifestyle you’d like to have.

The ANZ Retirement Savings Confidence Barometer measures how confident New Zealanders feel about reaching their retirement savings goals and what New Zealanders intend to do with their KiwiSaver savings when they became eligible to withdraw. The survey findings will give you some interesting insights into New Zealander's perceptions of retirement.

The typical New Zealander is likely to be retired for at least 20 years. The 2014 forecasts from Statistics New Zealand tell us that, on average, 65-year-old men can expect to live until they’re 86, and 65-year-old women until they’re 89. In the future, New Zealanders could live even longer.

Our quick and easy calculator can help you make sure you’re on track.

What to do if it doesn’t look like you’ll have enough

If you’ve done your sums and think you might not end up with enough money in your KiwiSaver account to provide you with the retirement lifestyle you’ve got in mind, you still have some options.

Find out more about how to make your money work for you if you’re employedself-employed or not working right now.

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