KiwiSaver - Balance at Age 65 Calculator (Based on Budget 2011)

This calculator gives you ballpark figures of what your retirement savings balance would be, if you contributed three, four or eight percent of your before tax salary to the KiwiSaver Scheme. This is a retirement savings program as presented by the New Zealand Government in their May 2011 budget.

The main changes are: 1) Effective 1 July 2011 the government will halve the tax credit contribution. Because the credit is paid annually in arrears it is in July 2012 that the amount going into your account halves; 2) From 1 April 2012, all employer contributions will be subject to Employer Superannuation Contribution Tax (ESCT), at the employee's marginal tax rate (NB: calculator is currently taxing ESCT effective immediately - I'm working on that issue); 3) From April 2013 the minimum employee contribution will rise from 2% to 3%; and 4) From April 2013 the compulsory employer contribution will rise from 2% to 3%.

For KiwiSaver calculator based on scheme pre Budget 2011 - Just click here

For KiwiSaver calculator based on the original scheme - Just click here

For more information visit the "KiwiSaver Website" - Just click here
Annual Salary Before Tax
Estimated annual salary increase (Normally about 0.035)
Frequency Of Payments to KiwiSaver starting February of 2012
Your year of birth (to work out months until 65 years old)
Your month of birth (to work out months until 65 years old)
Your contribution rate (The percentage of your gross salary that you are going to pay in to KiwiSaver)
Enter the ESCT Rate - From 1 April 2012, all employer contributions will be subject to "Employer Superannuation Contribution Tax" (ESCT Rate), at the employee's marginal tax rate: $0 - 16,800 at 10.5%; $16,001 - $57,600 at 17.5%; $57,601 - $84,000; $84,001 at 30.00%; and over at 33%; or at the Flat Rate of 33%. The Default setting is the top rate.
Enter the estimated interest or return on your investment per year before retirement. The following are some examples you could try:
A "Conservative" fund use a rate of 2.50% (0.025) above CPI; or a "Balanced" fund use a rate of 3.00% (0.03) above CPI; or a "Global Growth" fund use a rate of 3.75% (0.0375) above CPI.
Tax on investment return (Your investments are in a managed balanced fund which is a PIE (Portfolio Investment Entity). Your PIE income is taxed at either 0.00%, 10.5%, 17.5% or 28%, depending on your total taxable income. The Default setting is the top rate 0.28)
Estimated annual inflation (CPI 2.5% = 0.025) (New Zealand annual inflation rate - CPI - from March 2010 to March 2011 was 4.5%. The compound average inflation rate from March 2006 to March 2011 was 3.1%
(click here to check the exact rate)
$1000NZ Government KickStart contribution, One off lump sum, deposited 3 months after you start
John looks at Credit Union KiwiSaver as an option, with the New Zealand Heralds assistance.
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