These projections show illustrative examples of how much you (if you’re 18 or over) could accumulate in your KiwiSaver member account at your chosen retirement age (age 65 or older) and how long it may last in retirement. The projections including your KiwiSaver balance at retirement age, first home withdrawal and the income you can draw down in retirement are to be treated as indicative only.

This calculator provides information based on standard industry assumptions, and is not intended to provide financial advice. Outputs do not necessarily relate specifically to the MAS KiwiSaver Scheme or any other MAS managed investment scheme. Projections will differ to those shown in the annual member statements.

This is not a substitute for professional and individually tailored financial advice. It does not take into account your personal objectives, situation or needs. The results are not a representation of actual entitlements or benefits from any particular KiwiSaver scheme and are not intended to be relied on for the purposes of making a decision in relation to a financial product. Before making any financial decisions consider your own financial circumstances, needs and objectives and consider getting professional financial advice. If you would like to talk to a MAS Adviser you can call us on 0800 800 627.

The calculator uses industry-standard assumptions about future events, such as what investment returns may be. The calculator does not (and cannot) reflect actual returns or predict future returns (which are subject to investment and other risks, including possible loss of income and principal invested). Returns are not guaranteed and will vary over different periods depending on investment performance. When returns change, your KiwiSaver scheme balance will go up and down.

Important information about the calculator and how the projections are calculated can be found in the section called Calculator Assumptions.

Medical Funds Management Limited (MFM) is the issuer and manager of the MAS KiwiSaver Scheme.

Find a copy of the Product Disclosure Statement (PDS) for the MAS KiwiSaver Scheme, and more information about the Scheme here.

Assumptions for lifestyle profiles

  • The figures are taken from the New Zealand Retirement Expenditure Guidelines (Annual Update 2023) produced by the NZ FIN-ED CENTRE at Massey University. These figures can be found here.
  • The expenditure guidelines do not represent recommended levels of expenditure.
  • The lifestyle profiles used in the MAS KiwiSaver Retirement Calculator are to be used as a guide only. You can use the custom option to select your own living expenses in retirement.
  • The Basic lifestyle profile is based on the ‘No Frills’ Metro lifestyle segment which is $826.26 per week for a one-person household. The Comfortable lifestyle profile is based on the ‘Choices’ Metro lifestyle segment which is $1,163.09 per week for a one-person household.
  • Both segments assume house ownership (i.e. no rental payments).
  • For both segments ‘Metro’ is defined as only living in Auckland, Wellington Regional Council Areas or Christchurch.
  • NZ Superannuation for singles or couples can be included as part of your retirement planning using the MAS KiwiSaver Retirement Calculator.

Calculator Assumptions

Important Information

The projections in this calculator only relate to KiwiSaver and (aside from the ability to select NZ Superannuation payments) do not take into account other retirement savings or income. The assumptions used for this estimated projection may vary from those used elsewhere. This may result in different estimated projected balances at your KiwiSaver retirement date in different tools and/or statements. The calculator uses a number of the assumptions provided for in the Financial Markets Conduct Regulations 2014 (FMCR) for the calculation of the projections in KiwiSaver annual member statements. You can find out more information about the FMCR specific assumptions on the Financial Markets Authority's website.

General Assumptions

  • The maximum retirement age that can be selected is 100 years and the maximum life expectancy is 120 years.
  • Income inflation is applied at 3.5% p.a. and your contributions will increase in line with this inflation rate.
  • A minimum age of 18 can be used in this calculator.
  • The calculator assumes you do not change your investment type prior to the selected retirement age. From retirement age, the assumed return rate is 2.5% per annum (after fees and tax) for all investment types except the cash fund which assumes a 1.5% per annum (after fees and tax) return rate. The default investment type shown is a balanced investment type. This can be changed.
  • The Prescribed Investor Rate (PIR) is determined as shown in the table below:

    Table 1

    Taxable Income PIR
    $14,000 or less 10.5%
    $14,001 to $48,000 17.5%
    Over $48,000 28%
  • If you indicate you will make a KiwiSaver first home withdrawal we will assume you will be eligible and that you have not made any transfers in from an Australian complying superannuation scheme. Members are eligible to make a first home withdrawal after they have been a member for three years. The calculator will also calculate an available first home withdrawal balance which leaves a required $1,000 in your KiwiSaver member account. The actual amount required to remain in your account may be more, for example if you have transferred funds from an Australian superannuation scheme.
  • Other than first home withdrawals, no withdrawals (such as financial hardship) or contributions savings suspensions are made before retirement age.
  • No additional fees or charges have been applied, other than those reflected in the returns.

Investment Returns (before retirement)

  • All investment returns used in the calculations are based on the table below and are after fees and tax. The assumed rates of return are based on the those used in the FMCR and adjusted for the individual's tax rate based on income level. These investment returns apply up to the selected retirement age:

    Table 2

Investment type

Type of fund

Assumed rate of return (after fees and taxes)





PIR (10.5%)

PIR (17.5%)

PIR (28%)































global equities






  • Results are expressed in today's dollars by discounting future value by 2% per annum.


  • Government contributions of up to $521.43 per year are included and paid annually. Government contributions will stop at age 65.
  • Employee and employer contributions are paid annually with no changes to member or employer contribution rate options. Employee and employer contributions increase by 3.5% each year.
  • Voluntary regular contributions increase by 3.5% each year.
  • Employee and regular voluntary contributions are paid until the selected retirement age.
  • Employer contributions are paid until age 65.
  • A voluntary one-off contribution is paid at the end of projection year in which the Member turns that age, and can be made up to the selected retirement age.
  • For the self-employed and non-employed employment types, no employer or employee contributions can be made.
  • The calculator assumes for self-employed people that voluntary regular contributions are made calculated on 3% of any income entered. This can be changed.

NZ Super

  • NZ Super amounts are current as at 1 April 2023. The amount and future payment of NZ Super is not guaranteed.
  • NZ Super assumes to adjust each year by the 2% pa inflation rate.
  • NZ Super only applies from age 65 and to the max life expectancy age selected.
  • If you select to include NZ Super an 'M' tax code (rounded to nearest dollar) is assumed.
  • Where NZ Super is included, we assume the following rates depending on your selection:

    Table 3

Weekly payments (after tax)

Rate after tax and assuming a ‘M’ tax code (rounded to the nearest dollar)

Single person living alone


Couple - married, civil union, or de facto couple, both qualify (total).

$381.82 each

Other important information

  • A KiwiSaver first home withdrawal can be made up to age 65.
  • All amounts are shown net of any PIE tax rates at the PIR rates (indicated in table 2) or available tax credits.
  • The Employer Superannuation Contribution Tax (ESCT) will be applied to applicable employer contributions at the rate from the table below based on the rate applicable to the starting salary and will continue at that rate until age 65:

    Table 4

Annual salary + gross employer contributions

ESCT rate contributions

$0 – $16,800


$16,801 - $57,600


$57,601 - $84,000


$84,001 - $216,000


$216,001 +


Medical Funds Management Limited (MFM) is the issuer and manager of the MAS KiwiSaver Scheme.

For a copy of the Product Disclosure Statement (PDS) for the MAS KiwiSaver Scheme, or for more information about the Scheme, you can visit our website here.