24/04/2026
If you aim for a comfortable retirement in a metro area, likely spending for a couple is around $1,740 per week. With NZ Super currently paying about $800 after tax, you face a weekly shortfall of roughly $940. Bridging this gap could require savings of over $1 million, according to Massey University estimates.
Even a basic no frills lifestyle in a metro area for a couple still needs around $120,000 in additional savings beyond Super. Provincial households vary, but the gap exists right across the board.
PRACTICAL TIPS
✅ Check your KiwiSaver contribution rate. The minimum is 3.5%, but 4%, 6%, 8% and 10% are all available options. Even a 1% or 2% increase today can make a material difference over a 20 to 30 year savings horizon.
✅ Claim your full government contribution. If you contribute at least $1,043 to KiwiSaver in a year, the government adds up to $260 on top at no cost to you. Many people simply don't know this exists.
✅ Review your fund type. Just under half of all KiwiSaver members are now in growth category funds, but many younger members remain in conservative or default settings that may not suit a 20 to 30 year investment horizon.
✅ Ignore short term market noise. Research consistently shows that contribution discipline (staying invested and keeping contributions going through volatility) matters far more to long term outcomes than trying to pick the perfect moment.
✅ Do an annual review. Life changes. Your fund type, contribution rate and retirement target should all be revisited regularly, especially after major life events like a new job, a relationship change or having children.
❓ Do you know what your current investment balance is projected to be worth at age 65? Is it enough to fund the retirement lifestyle you're actually wanting?
Disclaimer: I am a NZ financial adviser. This is general information only and is not personalised financial advice. Speak to a registered adviser before making any decisions.
