Super alone won’t cut it in retirement

Kiwis who want the odd luxury in retirement need between $273,000 and $1.033 million on top of superannuation, according to the latest Retirement Expenditure Guidelines. For a more modest 'no frills' retirement, they would need between $118,000 and $181,000.

Financial Advice NZ chief executive Nick Hakes says advisers are more needed than ever to help New Zealanders get there.

Released by Massey University's Fin-Ed Centre, the guidelines are based on actual spending patterns of retired New Zealanders who receive superannuation. The report shows a weekly expenditure of $705-$1,780 depending on household type and location - well above what superannuation provides.

The savings gap
As of April 2025, a single person living alone receives $538.42 per week on superannuation. Total expenditure for the ‘no frills - metro’ category is $705.34. This trend extends to every type of household.