New Zealand
Worked in New Zealand? Any pension you built up here is yours to keep and can usually be paid to you abroad — but you have to claim it; it won't start automatically. The full state pension age is 65, with early access from 65. On totalization, New Zealand has bilateral totalization agreements, so the years you worked here may combine with other countries you've worked in. Below is New Zealand's system at a glance and what expats should check.
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Overview
New Zealand operates a three-pillar retirement income system.
The foundation is New Zealand Superannuation (NZ Super), a universal, non-contributory, non-means-tested flat-rate state pension funded from general taxation, available to eligible residents aged 65 and over. NZ Super is internationally recognised for its simplicity and broad coverage: approximately 40% of people aged 65 and over have virtually no other income besides NZ Super, and another 20% have only a little more. The Retirement Commission's 2025 Review of Retirement Income Policies (RRIP) confirmed the eligibility age remains at 65, with 12 recommendations to improve the system's fairness and sustainability.
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The second pillar is KiwiSaver, a voluntary workplace-based defined contribution savings scheme introduced in 2007. As at March 2025, KiwiSaver had approximately 3.39 million members and NZD 123.1 billion in assets across 38 schemes. Budget 2025 introduced significant changes: default employee and employer contribution rates will rise from 3% to 3.5% from 1 April 2026, and to 4% from 1 April 2028. The government member tax credit was halved from 50 cents to 25 cents per dollar contributed (maximum NZD 260.72/year) from 1 July 2025. From 1 July 2025, 16- and 17-year-olds became eligible for government contributions, and from 1 April 2026, employers must contribute for eligible 16- and 17-year-old employees.
The third pillar consists of private voluntary savings, investments, and occupational superannuation schemes. New Zealand has bilateral Social Security Agreements (SSAs) with 11 countries, enabling totalization of residence periods for NZ Super eligibility. The residence requirement for NZ Super is gradually increasing from 10 years to 20 years (for those turning 65 from 1 July 2024 onwards), phased in by birth date until July 2042. NZ Super is indexed annually on 1 April to the higher of CPI or average wage growth, and is portable overseas subject to residence-based proportional payment rules.
~20% (mandatory schemes, average earner; OECD Pensions at a Glance 2025). NZ Super alone represents approximately 40% of gross average earnings for a single person living alone at current rates.
Pillar 0/1: NZ Super (non-contributory, universal, flat-rate, tax-funded). Pillar 2: KiwiSaver (voluntary workplace DC scheme, auto-enrolment with opt-out for eligible employees aged 18–64) + legacy occupational superannuation schemes. Pillar 3: Private voluntary savings, investments, and personal superannuation accounts.
Beveridge/Universal
Employee
3.0% (KiwiSaver, until 31 March 2026); 3.5% from 1 April 2026; 4% from 1 April 2028. NZ Super: nil (tax-funded).
Employer
3.0% (KiwiSaver, until 31 March 2026); 3.5% from 1 April 2026; 4% from 1 April 2028. NZ Super: nil.
Self-Employed
KiwiSaver: voluntary contributions only (no mandatory rate; no employer match; government MTC available if eligible). NZ Super: nil.
Notes
KiwiSaver contribution rate increases are phased: 3.5% from 1 April 2026, 4% from 1 April 2028 (Budget 2025). Members may apply for a temporary rate reduction to 3% for 3–12 months (applications open from 1 February 2026). Employer must match the temporary reduced rate if member applies. 16- and 17-year-olds: eligible for government MTC from 1 July 2025; employer contributions required from 1 April 2026. Members earning over NZD 180,000 no longer receive government MTC from 1 July 2025. Government MTC: 25 cents per dollar contributed, maximum NZD 260.72/year (reduced from NZD 521.43 from 1 July 2025). NZ Super is funded entirely from general taxation — no payroll contributions.
Common questions
What is the retirement age in New Zealand?
The full state pension age in New Zealand is 65. Early retirement may be possible from 65.
Can I claim a New Zealand pension if I live abroad?
Yes. A pension you've earned in New Zealand stays yours wherever you retire, and can usually be paid into an overseas account once you reach pension age. It won't start automatically, though — you need to claim it, typically a few months in advance, through New Zealand's pension authority.
Do totalization agreements affect my New Zealand pension?
New Zealand has bilateral social-security (totalization) agreements. These can let you combine the years you worked in New Zealand with years in partner countries to meet a minimum qualifying period, so short stints aren't wasted. Which partners and rules apply depends on your own work history.
How is the pension system structured in New Zealand?
Beveridge/Universal Pillar 0/1: NZ Super (non-contributory, universal, flat-rate, tax-funded). Pillar 2: KiwiSaver (voluntary workplace DC scheme, auto-enrolment with opt-out for eligible employees aged 18–64) + legacy occupational superannuation schemes. Pillar 3: Private voluntary savings, investments, and personal superannuation accounts. It includes 3 schemes in our directory.