Sorted header abstract pattern
Sort my 6 Steps Tools Guides Blog Moreabout Sorted
Search Icon search small

back iconBack

Start here

Sort my...
A man and woman are walking together outdoors and looking happy

back iconBack

Start here

6 steps to get your money Sorted
6 steps to get your money Sorted

back iconBack

All tools


back iconBack

View all

back iconBack

View all

back iconBack

More Sorted Info

View all


Here's the new number: NZ Super is $463

1 April 2022
Reading time: 4 minutes

Posted by Tom Hartmann , 6 Comments

There’s a new NZ Super rate for individuals which comes into effect as of today, paying $463 per week to those 65 and over. For couples it’s $712.

It helps to know how the government pension is tracking, especially when retirement is far away (it gives you time to plan), and obviously when it’s just around the corner.

Know your sweet (retirement) spot

If you needed to rely solely on NZ Super, would $463 be enough for the retirement you want?

Many of us will undoubtedly need more than $463 per week to live on, especially if we need to cover housing costs like rent, rates, insurance and maintenance. Not to mention all the activities we’re hoping to knock off our bucket lists when we step back from full-time work.

It’s never too early to start planning for your retirement. How much you need to save will depend on your own circumstances, but the sooner you start, the better the position you’ll be in when you eventually stop working.

Think about when you expect to retire, what sort of lifestyle choices you’d like to make, where you think you’ll live, and how much you’ll have in your KiwiSaver.

Using our retirement calculator can give you a ballpark of what you might need to save, and where you might end up say 30 years from now. Nailing your retirement number gives you time to achieve the lifestyle you’re after.

NZ Super power

NZ Super has been around in more or less its present form since 1938.

Nowadays, 40% above 65 have virtually no other income besides NZ Super. And another 20% have only a little more. Even with NZ Super, close to 1 in 3 of us don’t think we’ll have enough for our retirement unless we continue working past 65.

Overall, it keeps a lot of people out of hardship and ensures we can still play valuable roles in our communities and for our whānau. And because we know we have the security of NZ Super, we can focus on just saving the amount we’ll need to add on top.

How are you tracking in KiwiSaver?

While NZ Super can help get you by, it's your own savings and investments that will help to make retirement more comfortable and enjoyable.

Like many things, the trick is to start early and start small. Yet even if yesterday would’ve been a great time to start, today is always better than putting it off to tomorrow! Those consistent savings, coupled with the compounding returns from investing, will be what it takes to bridge the gap. KiwiSaver can certainly help.

Checking where it’s headed and making sure it’s set up right – such as being in the right type of fund for us and what the fees could amount to over long-term – will help us make the most of it.

It’s easy to fall into the trap of thinking that just because we’re in KiwiSaver, we’re set for life. You can use our KiwiSaver calculator to estimate how much you’ll have in KiwiSaver when you retire. This allows you to make decisions on whether you’d like to increase your contributions or change what type of fund you’re in – to aim for even better results.

Many of us will need other investments or solutions besides KiwiSaver. For example, this might mean investing in shares, managed funds or an investment property. It could also mean adding a side hustle, starting an online business or buying into a franchise.

There’s no one right answer for everyone. The important thing is to know what your options are when it comes to preparing for the future.

Comments (6)


  • Gravatar for

    4 May 22

    I finished work recently and did a budget using the sorted tool. We are just surviving on $1200 per week in Auckland City, as my partner is still working. There is no way we can survive on the NZ Super amount in the future.

  • Gravatar for

    21 April 22

    $463 per week if you are single and living alone. $712 per week for a couple and both drawing superannuation i.e. $356 each per week.

  • Gravatar for

    21 April 22

    $463 per week and for couples it's $712. Isn't superannuation paid fortnightly? We certainly don't get $712 per week.

  • Gravatar for John A

    20 April 22
    John A

    Turning 65 does not mean you suddenly become a helpless invalid. You have all day to dig and care for chooks and a big vege garden, go after fish, rabbits, deer, greatly reducing food bills. Even if you can't do those things, you now need less food and have more time to prepare it, so you buy cheap ingredients rather than ready-prepared items. You can eat well for $5 a day and eat like a king for $10. You can mow lawns for elderly neighbours, repair cars, bikes, computers, do sewing alterations, make and sell jam, give music lessons, bake cakes, paint fences. My 74-y-o brother is still driving trucks part time. From 65 to 75 I cleared overgrown nearby sections, mowed them, and grew and planted about 1500 native trees and shrubs around them. I'm 80 now and getting stiff and sore but I still mow a couple of lawns.

  • Gravatar for Denise

    6 April 22

    I am a superannuitantbwho is perfectly happy with the amount I receive
    I went from owning two businesses in Auckland New Zealand whereby I learnt how to pay myself a very tidy weekly income and I lived within my means.
    I also receive a special needs benefit as I had a Stroke on January 2005.. This supplementary income is for assistance with many things.
    Being a strong independent woman in her own right...I can happily say that through trials and tribulations I moved on to where I am today...debt free...AAA credit rating with many co's , organisations and businesses.

  • Gravatar for richard arthur hita

    3 April 22
    richard arthur hita

    Superannuation will never be enough to live on more for just subsistence purposes. Kiwi saver started too late for many of the present-retiring generation. So there will be a big population of retirees who will be in permanent poverty and homeless regardless of whose governing the country. Lessening the tax on pensions may help, but the future of this group isn't that bright.

RSS feed for comments on this page | RSS feed for all comments

Kids and money Budgeting Goals Scam alert KiwiSaver Money mindset Managing debt Money tips Investing

Recent Comments

My Money Sorted: Jaelyn
1 Comment

5 steps to get your $521
1 Comment

Who’s teaching your daughter (or niece, or granddaughter) about money?
1 Comment

My Money Sorted: Hilary Barry

How to grow your first million dollars (hint: start early)
1 Comment

My Money Sorted: Ben

sign up bar pattern
sign up bar icon

Want help with your money coming straight to your inbox? Sign up to Sorted.