New Zealand KiwiSaver Calculator 2023
Calculate retirement savings contributions for employees and employers
Introduction
🎯 What
KiwiSaver is New Zealand's voluntary, work-based retirement savings scheme. This calculator estimates contributions from employees (3%-8% of salary) and employers (minimum 3%) for 2023.
👥 Who
Employees enrolled in KiwiSaver, self-employed individuals, employers calculating contributions, and accountants managing payroll and retirement planning.
💡 Why
To calculate KiwiSaver contributions accurately for compliance with IRD requirements, plan retirement savings, and understand the impact on take-home pay.
📋 Contribution Details
Savings Summary
Total Annual Contribution
$0.00
Net Salary Impact: Your take-home pay reduces by approx $0.00 annually (plus tax).
KiwiSaver Contributions 2023
Contribution Rates
- Employee Options: 3%, 4%, 8%
- Employer Minimum: 3%
- Percent of gross salary/wages.
Key Rules
- Employee contributions are deducted from net pay.
- Employer contributions are on top of salary.
- Employer contributions are subject to ESCT (Employer Superannuation Contribution Tax).
Calculation Examples
Example 1: Basic 3%
Salary: $60,000 | Employee: 3% | Employer: 3%
Employer: $1,800
Total: $3,600
Example 2: Higher Rate
Salary: $45,000 | Employee: 4% | Vol: $500
Employer: $1,350
Vol: $500
Total: $3,650
Example 3: Low Earner
Salary: $200,000 | Employee: 8% | Employer: 3%
Employer: $6,000
Total: $22,000
Frequently Asked Questions
Q: What is KiwiSaver?
A: KiwiSaver is a voluntary savings scheme to help New Zealanders save for retirement.
Q: How much do employees contribute?
A: Employees can choose 3%, 4%, or 8% of gross salary.
Q: Does the employer contribute?
A: Yes, standard rate is 3% of gross salary.
Q: Is tax applied to contributions?
A: Yes, PAYE tax applies on employee contributions according to marginal tax rates.
Q: Is this calculator official?
A: No, it is for informational and educational purposes only.
⚠️ DISCLAIMER: This New Zealand KiwiSaver Calculator 2023 is for informational and educational purposes only. Rates and rules are based on KiwiSaver and IRD 2023 guidelines. ANTIGRAVITY does not provide legal, accounting, or financial advice.