The Fisher Funds KiwiSaver Plan calculator (the “calculator”) is designed to help you estimate how your KiwiSaver savings could grow over time and the income those savings could provide you with during retirement.
How this calculator works
We use the information you enter into the tool (such as your age, current KiwiSaver balance, and other information), together with the assumptions set out below to calculate your results. Where applicable, we have used the assumptions that have been set by the Government under the Financial Markets Conduct Regulations 2014 for KiwiSaver retirement projections.
The calculator estimates:
your KiwiSaver balance at retirement age of 65 (or older depending on what retirement age you select); and
your weekly retirement income during your retirement period. You can choose whether to include income from NZ Superannuation (NZ Super) in your results.
Unless otherwise stated, the calculator assumes your chosen investment strategy and contribution settings remain unchanged.
This calculator does not constitute financial advice and should not be relied on as a predictor of future performance.
Key assumptions
1. Investment returns
The calculator uses the following annual rates of return (after fees and tax), based on your investment strategy:
Investment strategy | Rate of Return |
|---|---|
Cash | 1.5% |
Core Conservative | 2.5% |
Conservative | 2.5% |
Default | 3.5% |
Balanced | 3.5% |
Growth | 4.5% |
Aggressive | 5.5% |
GlidePath if you are under age 50 | 3.5% |
GlidePath if you are age 50 years and over | 2.5% |
Returns from age 65 | 2.5% |
2. Inflation
All results are shown in today's dollars, and are adjusted for inflation at 2% per year.
This means the dollar amounts you actually contribute or receive in the future are likely to be higher than those shown but are expected to have similar purchasing power to today's dollars.
For example, something that costs $1,000 today would cost approximately $1,220 in 10 years' time if inflation averaged 2% per year.
3. Your estimated KiwiSaver balance
Your estimated KiwiSaver balance at retirement (which is shown in today’s dollars, adjusted for inflation) is calculated on the basis set out below.
Withdrawals
No withdrawals are made before your retirement age; except for any first home withdrawals you have entered into the calculator.
Employee and Employer contributions
If you select that you are employed, the calculator assumes:
your salary or wages will increase by 3.5% per year until your chosen retirement age; and
Employer Superannuation Contribution Tax (ESCT) is deducted from employer contributions until age 65.
If you select a 3.5% employee and/or employer contribution rate, the calculator assumes that rate increases to 4% from 1 April 2028.
The calculator also assumes that:
employee contributions begin at your current age and continue until your selected retirement age; and
employer contributions begin at age 16 (or your current age, if you are already 16 or over) and stop at age 65.
Government contributions
The calculator assumes you are eligible to receive Government Contributions. From age 16 to 65, the calculator assumes Government Contributions are received at the current rate of 25 cents for every dollar you contribute (through employee or voluntary contributions), up to a maximum of $260.72 for each Government Contribution year (1 July to 30 June).
If your annual taxable income is over $180,000, you are not eligible for a Government Contribution.
The calculator assumes your salary or wages increase by 3.5% each year. If this means your projected income exceeds $180,000 in a future year, the calculator assumes you will no longer receive Government Contributions from that year.
Voluntary contributions
Voluntary contributions are assumed to increase by 3.5% each year (in line with assumed salary and wage growth) and continue from your current age until your selected retirement age.
Employee, employer, Government and voluntary contributions are assumed to be paid at the end of each calendar year.
4. Your estimated retirement income
Your retirement income is an estimate of the after-tax weekly income that your retirement savings could provide during your chosen retirement period.
The calculator assumes that:
your savings remain invested from retirement age and earn 2.5% per year; and
you make regular withdrawals from your savings throughout retirement so that your balance is fully used by the end of your selected retirement period.
New Zealand Superannuation
The calculator includes the option to add NZ Super to your estimated retirement income. We’ve used the rate for a single person living alone, which is currently $555.15 per week. For current NZ Super payment rates, visit the Work and Income website.
The calculator assumes you begin receiving NZ Super at age 65 and continue receiving NZ Super for the remainder of the retirement period shown.
Other Important limitations
Actual results may differ from the estimates shown. Neither Fisher Funds nor the Supervisor guarantees any estimate generated by the calculator, and neither accepts liability for any loss or damage arising from the use of, or reliance on, the information provided.