Retirement planning for couples in NZ: two ages, two KiwiSavers, one plan

Plan as one household, with two sets of dates. A couple who both qualify for NZ Super get $854.08 a week together after tax at the M code ($427.04 each), from the rates set on 1 April 2026. That is the base. On top of it sit two KiwiSaver accounts that unlock separately at 65, two retirement dates that may not match, and two lifespans that almost never end together. Our example couple, both 55, with $250,000 in KiwiSaver between them and $50,000 of other savings, could spend about $1,052 a week after tax for life to 95 in 9 of 10 simulated markets. A five year age gap takes that down to about $967. This guide walks through why, and what to check. Rules checked 12 November 2026.

The NZ Super couple rate

NZ Super is paid to each person, but the rate depends on your household. Work and Income publishes the figures fortnightly; these are the net amounts at the M tax code from 1 April 2026, with the weekly figure being half the fortnightly one.

Two things stand out. First, a couple gets less than two single people: $854.08 a week together against $1,110.30 for two people each living alone. The law sets the single living alone rate at 65% of the couple's combined rate, on the basis that two people share a home, a car and a power bill. Second, when only one of you has reached 65, that person gets the couple rate of $427.04, not the single rate. The younger partner gets nothing until they qualify in their own right. (An older option that paid a reduced rate to a non-qualifying partner, the "partner included" rate, closed to new applicants in November 2020.)

NZ Super has no income or asset test for you, so one partner working does not reduce the other's payment. Over a year, 26 fortnights at the couple rate come to $44,412.16 after tax. Our NZ Super rates guide has every rate and tax code, and the NZ Super calculator shows your own.

Worked example: one household, two people

Our calculator's example household is a couple, both 55. She earns $80,000 and has $150,000 in KiwiSaver; he earns $60,000 and has $100,000. They hold $50,000 of other savings, both in balanced funds, and plan to retire together at 65 and make the money last to 95. We ran them through the site's engine (1,000 simulated markets, today's dollars, after tax):

Massey University's "no frills, provincial" spending for a two person household is $1,060.65 a week. On that spending, falling a little after 75 and 85, their savings last to 95 in all of our simulated markets. NZ Super carries about four fifths of the load. That is typical for couples, and it is why the couple rate matters so much more than investment returns for most households. Our guide to what retirement pay means explains the four figures in the table.

Change one partner and the answer moves. If he had no salary and no KiwiSaver, their pay would be about $981 a week. If they both worked to 67, it would rise to about $1,122, because NZ Super is paid from 65 even while they are still working, on top of two more years of wages.

When you are different ages

An age gap is the most common thing couples forget to plan for. Each of you qualifies for NZ Super at your own 65th birthday, and each KiwiSaver account unlocks at its owner's 65. So for every year of age gap, there is a year when the household is on one NZ Super payment, not two, and one KiwiSaver account is still locked.

Take our example couple again, but make him 50 instead of 55. If they stop work together when she turns 65, he is 60. Our engine gives a retirement pay of about $967 a week for life to 95 in 9 of 10 markets, down $85 from the $1,052 they would have at the same age. Three things cost them:

• Five fewer years of his salary. He stops work at 60, so five years of pay and KiwiSaver contributions never happen.
• Five years on one NZ Super payment. From her 65 to his 65, the household gets $427.04 a week of NZ Super, not $854.08.
• His KiwiSaver stays locked. Until he turns 65, only her KiwiSaver and their other savings can pay the bills.

The fix is usually one of three: the younger partner keeps working for a few years, the household waits, or you build up savings outside KiwiSaver to carry the gap. The when can I retire calculator finds the earliest date that reaches your target, and our guide to retiring before 65 covers the bridge years in detail.

Two KiwiSavers, two sets of rules

There is no joint KiwiSaver account. Each of you has your own, with your own fund, your own contribution rate and your own government contribution (25 cents for every dollar you put in, up to $260.72 a year, and none if your income is over $180,000). From 65, each account is yours to withdraw, and contributions stop being compulsory for your employer. Our KiwiSaver at 65 guide covers the options.

A few practical points for couples:

• Check both statements. It is common for one partner to have a much smaller balance, often after time out of paid work raising children. The government contribution only needs $1,042.86 a year of member contributions to get the full amount, so a lower earning partner contributing voluntarily can be worth it.
• Look at the fund types together. If one of you is in a growth fund and the other in a conservative fund, the household's mix is somewhere in between. That may be fine, but it should be a choice. Our fund type in retirement guide looks at the trade off.
• Tax is personal. Each account's tax rate (the PIR) depends on its owner's income, not the household's. NZ Super counts as taxable income, so someone living on NZ Super alone is above the 10.5% threshold and usually on 17.5%. Our tax on retirement savings guide explains how to check.

Other savings, shares and term deposits held jointly are simpler: our calculator treats them as one pot the household can use at any age.

How much does a couple spend?

Massey University's New Zealand Retirement Expenditure Guidelines (2025 edition, prices at 30 June 2025) give real spending by retired households, not a recommended level. For two people:

Against the couple rate of $854.08, the "no frills" levels are only a little above NZ Super, while "choices, metro" leaves a gap of over $900 a week. These figures assume you own your home. If you rent, read our renting in retirement guide before relying on them. Our Massey guidelines guide explains how the numbers are built.

Couples also get the Winter Energy Payment as a household: $31.82 a week from 1 May to 1 October, paid once per couple, not to each of you.

Two lifespans: plan for the one who lives longer

Couples have a better chance than single people that at least one of them lives a long time. For our example couple, both born around 1971, Stats NZ's cohort life tables (March 2026) give her about a 26% chance of reaching 95, him about 17%, and the chance that at least one of them reaches 95 is about 38%. That is why our calculator plans to 95 by default rather than 90.

It also means most couples should expect a stretch of years when one of them is alone. NZ Super drops to the single rate, and the household's costs fall, but not by half. Our guide on when a partner dies works through those numbers, and the couples and survivors calculator lets you choose who dies and when, and see the survivor's weekly pay. For the odds by birth year, see how long will I live.

A short checklist for couples

1. Write down both dates of birth and both 65th birthdays. Each of you can apply for NZ Super up to 12 weeks before.
2. Check both of you meet the residence rule: from 1 July 2024 it is phasing up from 10 to 20 years in New Zealand since age 20, including 5 since age 50. Our NZ Super eligibility guide has the table.
3. Gather both KiwiSaver statements and any other savings.
4. Decide whether you will stop work together or at different times.
5. Agree a spending figure for the household, and what the survivor would need.
6. Run it through the retirement calculator as a couple and save the plan to compare options.

This is general information, not financial advice. For decisions about relationship property, wills or investments, talk to a lawyer or a licensed financial adviser.

Questions

How much NZ Super does a couple get?

From 1 April 2026, $854.08 a week together after tax at M, or $427.04 each, when both qualify. That is $1,708.16 a fortnight, as Work and Income pays it.

What if only one of us is 65?

The person who qualifies gets $427.04 a week after tax at M. The younger partner gets no NZ Super until they reach 65 and meet the residence rule themselves.

Can we combine our KiwiSaver accounts?

No. KiwiSaver accounts are individual. Each of you can withdraw your own balance from 65, and you can then hold the money together if you wish.

Does my partner's income reduce my NZ Super?

No. NZ Super has no income or asset test for the person getting it, so either of you can keep working without it changing.