Assumptions: AMP KiwiSaver Scheme
Annual Statement Projections



The AMP KiwiSaver Scheme Annual Statement retirement projections give you an idea of what your balance could look like at retirement, and how much that amount equates to as a weekly income from age 65 through to age 90. These amounts are expressed in today’s dollar terms, which means you can compare them to the price of goods and services today without having to factor in how much prices might rise between now and your retirement.  Your projection is an estimate only, and incorporates your balance, the level of contributions you make, how old you are, what type of fund you are invested in, and an assumed rate of investment returns. The key assumptions used to calculate your projections are set by the Government, as explained below. It’s important to know these figures are an estimate only and aren’t guaranteed by us or the Government. They are information only and do not constitute financial advice.

Retirement calculators available from AMP (such as the My AMP app), other providers or may allow you to try different scenarios that are not included in your Annual Statement projection (such as changing your retirement age) and are calculated based on your current age and your most recent balance and contributions over the last year (rather than as at 31 March). Therefore, your Annual Statement projection will be different to the equivalent projection generated by a retirement calculator.

In order to calculate your estimated projected amount of savings at retirement and your weekly income until age 90 we have utilised a number of assumptions which are as follows:
Projected results  ◦  Government contribution  ◦  Current Age  ◦  Balance  ◦  Retirement age  ◦  Rates of Return  ◦  Retirement savings run-out age  ◦  Inflation  ◦  NZ Super  ◦  Salary inflation  ◦  Member and employer contributions  ◦  First Home Withdrawal  ◦  Withdrawals  ◦  Rounding  ◦  Excluded From Projections

Projected results

The projected balance has been adjusted for future price inflation, so it is based on the purchasing power of today. For example, if today you can buy a cup of coffee for about $5, and if your projected weekly income to age 90 is $30, you are projected to be able to buy 6 cups of coffee per week in retirement.

Current Age

Your age as at 31 March is rounded to the nearest whole number, so if you are 39 1/2 at 31 March, your age in the calculation will be rounded to 40.

Retirement Age

The age of eligibility for a KiwiSaver member to withdraw their balance is age 65.
Therefore, the projection assumes that your retirement age, and the age that you begin to withdraw your balance, is age 65.

Retirement savings run-out age

For the weekly amount, it is assumed you leave your money invested, and will make regular withdrawals until age 90 (i.e. for 25 years from age 65) until your balance reaches zero.

If you select a different retirement age (see above) the retirement savings run-out age does not change.

NZ Super

The projection excludes any entitlement to NZ Super which a member may or may not qualify for. However, if you wish to look at this option you can view this in the My AMP App Projection tab.
As explained in the “Introduction” section in the My AMP App Projections assumptions, your My AMP app projection will be different to your Annual Statement projection, because it is based on more current information.

Member and employer contributions

The member and employer contributions are based on the amount paid into the Scheme over the most recent year to 31 March.
If you make regular voluntary contributions (for example a regular direct debit) over the year to 31 March, it is assumed that you will continue making these at the same level each year until you reach retirement.
If you make any one-off payments over the year to 31 March, it is assumed you’ll continue to do this every year until you reach retirement (these will be capped at $1,500 in total per year to 31 March which ensures any large one-off payments you’ve made over the year that might not be repeated don’t overstate your projection). It is assumed you take no savings suspensions – where you stop contributions for a period of time.
All contributions, member and employer, voluntary and one-off (up to the $1,500 cap) are projected forward into the future with an assumed level of wage/salary growth of 3.5% per year, with contributions increasing in line with pay.
You can see what additional contributions could do to your projection in the My AMP Projection tab.


It is assumed that no amounts are withdrawn for first home purchase or financial hardship, or (for estimating the weekly income) as a lump sum after you reach age 65.
For the weekly income in retirement it is assumed you will make regular withdrawals until age 90 (e.g. for 25 years from age 65) until your balance reaches zero.

Government contribution

It is assumed that the Government Contribution provided in the past year to 31 March will continue to be paid to you each year until you reach age 65. For example, if you qualified for the full Government contribution of $521, the projection will include this for every year. If you only qualified for a portion of the contribution, that same portion will be applied every year. Inflation is not applied to the Government contribution.


The balance used for projections will be your balance as at the end of the Scheme year i.e. 31 March of the most recently completed Scheme year. For a more current balance and projection please log on to MyAMP.

Rates of return

The rate of return is based on the Government fund type or types that your current AMP investment option is mapped to, as shown in the table below.
Where you are invested in more than one fund we have used the ‘multi-fund option’ set out in the Government regulations. Your Annual Statement will show the rate/s of return that have been attributed to the fund or funds that you were invested in at 31 March.
The rates of return are:
• After tax of 28%. This is the highest and most common tax rate for KiwiSaver members across all KiwiSaver providers.
• After fees. The fees used are an industry-average for your investment option and don’t reflect the actual fees you pay.
It is assumed that you stay in the same fund or fund mix until you reach age 65. If you are in a Lifesteps fund type, it is assumed that you will stay in Lifesteps, and therefore progress from the more aggressive to more conservative fund types as you get older.
These rates of return are based on those provided by the Government and we have indicated how they apply to all the investment options in the AMP KiwiSaver Scheme. Find out more on the Financial Markets Authority website at
After age 65, the assumed rate of return is 2.5% after fees and tax, regardless of fund selection.

Government Fund Type AMP Investment OptionGovernment Assumed Rate of Return to age 65 (after fees and tax)
DefensiveAMP Cash Fund1.50%
DefensiveAMP Capital NZ Fixed Interest Fund1.50%
DefensiveAMP Global Fixed Interest Fund1.50%
ConservativeAMP Default Fund2.50%
ConservativeAMP Conservative Fund#2.50%
ConservativeANZ Conservative Fund2.50%
ConservativeAMP Conservative Fund No. 22.50%
BalancedAMP Balanced Fund#3.50%
BalancedAMP Moderate Balanced Fund#3.50%
BalancedAMP Moderate Fund#3.50%
BalancedAMP Capital Global Multi-Asset Fund3.50%
BalancedAMP Capital Income Generator Fund3.50%
BalancedASB Balanced Fund3.50%
BalancedASB Moderate Fund3.50%
BalancedAMP Balanced Fund No. 23.50%
BalancedMercer Balanced Fund3.50%
BalancedAMP Balanced Fund No. 43.50%
GrowthAMP Aggressive Fund#4.50%
GrowthAMP Growth Fund#4.50%
GrowthANZ Growth Fund4.50%
GrowthASB Growth Fund4.50%
GrowthAMP Growth Fund No. 24.50%
GrowthANZ Balanced Growth Fund4.50%
AggressiveAMP Capital Listed Property Fund5.50%
AggressiveAMP Australasian Shares Fund5.50%
AggressiveAMP International Shares Fund5.50%
AggressiveAMP International Shares Fund No. 25.50%
Lifecycle Investment Option Under 50Lifesteps*3.50%
Lifecycle Option 50 and overLifesteps*2.50%

*The AMP Lifesteps Investment option (Lifesteps) automatically reduces expected investment risk as you get older. Lifesteps works by investing your savings in one of the six funds (marked #), depending on your age. For projections purposes if you are in Lifesteps the rate of return is set according to whether you are under or over 50.


The assumed rate of general inflation used is 2% per year (the long term expected rate of inflation) to show the ‘real buying power’ of your savings in the future.

Salary Inflation

The assumed rate of wage and salary inflation used is 3.5% i.e. how much your wages are assumed to increase each year.

First home withdrawal

It is assumed that no amounts are withdrawn for first home purchase in the future.


The projected balance at retirement is rounded to the nearest $1000.

The estimated weekly income is rounded to the nearest $10.

If your balance is low or you are close to age 65, rounding might mean your estimated weekly income amount shows as zero dollars.

If an amount is required to be rounded, an amount at the midpoint is rounded up.

Excluded from projections

You won’t get a projection on your Annual statement if:
• • You weren’t with your KiwiSaver provider for the whole year (1 April to 31 March)
• You’re under 17 1/2 at 31 March
• You’re over 64 1/2 at 31 March

You can utilise the AMP KiwiSaver calculator to undertake a projection yourself at any time, or the NZ Government Sorted site.