KiwiSaver and New Zealand Superannuation (NZ Super) are separate schemes that both become available at 65: NZ Super is a government pension paid regardless of savings, and KiwiSaver is your own balance to draw on alongside it. This page covers how the two combine as retirement income. Other KiwiSaver guides are on the KiwiSaver strategies hub.
NZ Super in Brief
NZ Super is paid from 65 to people who meet the residency requirements, and it is not means-tested, so your KiwiSaver balance and other savings don’t change it, though an overseas pension can reduce it and other income can change the tax code you use. It is taxable income. In 2026 a couple who both qualify receives about $44,412 a year combined after tax at the M rate, and a single person living alone about $28,868. Every rate, the residency rules and how to apply are in the NZ Superannuation guide.
KiwiSaver From 65
At 65 you can withdraw all or part of your KiwiSaver balance at any time, and nothing pays out automatically: you ask your provider. The access rules and options are in KiwiSaver at 65.
Employer contributions after 65: Employees aged 65 and over are not entitled to compulsory employer contributions under the KiwiSaver Act, and the government contribution stops at 65. Contributing and joining after 65 are covered in KiwiSaver after 65.
The Gap NZ Super Leaves
NZ Super on its own is less than many households spend in retirement, and the gap is what KiwiSaver and other savings fill. How much people spend in retirement varies widely; modest, comfortable and higher-spending scenarios are worked through in how much you need to retire in NZ.
Illustrative gap analysis:
| Category | Amount (couple, annual) |
|---|---|
| NZ Super (combined, from from 1 April 2026) | ~$44,412 |
| Target retirement income (assumed) | ~$65,000 |
| Gap to fill from KiwiSaver | ~$20,588/year |
| KiwiSaver balance needed (25-year drawdown, 5% return) | ~$290,164 |
The target income, return and drawdown period are assumptions: a higher target, a lower return or a longer retirement each raise the balance needed.
Drawing KiwiSaver Alongside NZ Super
There’s no requirement to withdraw KiwiSaver at 65. The common approaches are a lump sum, regular withdrawals that supplement NZ Super, or leaving the balance invested while other income covers spending. Each, along with withdrawal rates, fund type during drawdown and sequence-of-returns risk, is covered in the KiwiSaver drawdown guide; how to change your KiwiSaver fund type covers switching funds.
A balance left invested keeps being taxed on its earnings (for a PIE scheme, under the PIE rules at your PIR, at most 28%), and withdrawals are not taxed, as Is KiwiSaver taxed at 65? explains. NZ Super, by contrast, is taxed as income.
If a Member Dies
A KiwiSaver balance is paid to the member’s estate and distributed under their will (or the intestacy rules if there is no will); NZ Super payments for that person stop once Work and Income knows of the death. The process for KiwiSaver is on the KiwiSaver death benefit page.
Combining KiwiSaver With Other Retirement Income
Many New Zealanders supplement NZ Super and KiwiSaver with:
| Source | Notes |
|---|---|
| Rental income | Taxed at your income tax rate (not PIE rates) |
| Part-time work | Taxed as income; you can keep NZ Super while working, though a change of tax code can lower the after-tax amount |
| Term deposits | Fixed return; interest is taxed as income, with RWT deducted at a rate you choose, unless a PIE term deposit |
| Shares or ETFs held directly | Outside KiwiSaver; FIF rules unless an individual’s offshore holdings cost less than NZ$50,000 in total |
| Australian super | Can be transferred to KiwiSaver if your Australian fund and your KiwiSaver provider take part, or left in the Australian fund |
Each source has its own tax treatment and access rules, so the order in which they’re drawn on changes how long savings last.