KiwiSaver Calculator NZ 2026: First Home & Retirement

What changed for KiwiSaver in 2026

From 1 April 2026, the default employee contribution rate and the minimum compulsory employer contribution rose from 3% to 3.5%. Employees can choose 3.5%, 4%, 6%, 8% or 10%. A temporary reduction to 3% can be approved for 3 to 12 months, but this calculator models the standard published rates rather than a temporary certificate.

The scheduled minimum rises again to 4% from 1 April 2028. When you select today's 3.5% minimum, the projection applies that change automatically unless you switch it off for comparison.

How the first-home deposit plan works

The first-home panel projects the KiwiSaver balance to your planned purchase year using the same employee, employer, ESCT, government-contribution, salary-growth and fund-return engine as the retirement result. It then combines an estimated eligible withdrawal with cash savings outside KiwiSaver and compares the total with your entered deposit target.

For an eligible withdrawal, the estimate leaves $1,000 in KiwiSaver and also excludes the Australian-sourced amount you enter. It checks whether your entered membership period reaches three years by the planned purchase, but it cannot decide whether you satisfy the first-home, principal-residence, property, prior-withdrawal or previous-owner tests. Your provider's eligibility letter and balance are authoritative.

A withdrawal can change the retirement projection

The tool carries the estimated post-withdrawal KiwiSaver balance forward to age 65, with future contributions continuing under the same assumptions. It compares that figure with a no-withdrawal projection so the home-deposit decision does not hide the foregone long-term compounding.

That reduction is not a reason for or against using KiwiSaver for a home. Owning a home can change future housing costs and net worth, while house prices, mortgage rates, rent and maintenance are not modelled here. The figure simply exposes one side of the trade-off.

Employer contributions are reduced by ESCT

A 3.5% employer contribution is not normally the amount that arrives in your KiwiSaver account. Employer superannuation contribution tax, or ESCT, is deducted first. The applicable 2026 rate is based on salary or wages plus gross employer superannuation contributions, generally using the previous tax year or a current-year estimate for a newer employee.

This calculator shows gross employer money, ESCT and the net employer amount separately. Payroll can differ where a contribution is treated as salary under PAYE, a total-remuneration agreement applies, or the employer uses information not captured here.

The government contribution is smaller than it used to be

For the member credit year beginning 1 July 2025, an eligible member receives 25 cents for each dollar of their own contribution, up to $260.72. Reaching the maximum requires at least $1,042.86 of eligible personal contributions. Employer contributions do not count.

Eligibility is generally limited to members aged 16 to 64 with annual taxable income of $180,000 or less who meet residence and membership conditions. Partial eligibility years can be prorated. The projection assumes each modelled year is a complete eligible year; confirm the actual credit with your provider.

Why the fund choices use 1.5% to 5.5%

The Financial Markets Authority publishes standard long-term projection assumptions after fees and after tax at a 28% prescribed investor rate: 1.5% defensive, 2.5% conservative, 3.5% balanced, 4.5% growth and 5.5% aggressive. They are standard assumptions for comparable projections, not promised returns.

The FMA also warns that a default or higher-growth fund may not suit money needed for a first home in the next few years. The calculator lets you test different standard return assumptions but does not recommend a fund or represent market volatility.

Important limits

The cash-savings return is your after-tax assumption. House-price changes, purchase costs, legal fees, lender servicing tests, loan-to-value rules, First Home Loan eligibility and mortgage repayments are not modelled. A deposit percentage is a planning target, not an approval threshold.

The tool asks for no IRD number, provider login or account identity. Calculations run in your browser. Use your payslip, provider statement and formal eligibility letter as the records that matter, and obtain licensed advice where appropriate.