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.

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.

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.

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.

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.

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It is assumed that no amounts are withdrawn for first home purchase or financial hardship, or (for estimating the weekly income) as a lump sum after you reach age 65.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.

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.

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 https://www.fma.govt.nz/investors/resources/kiwisaver-projections
After age 65, the assumed rate of return is 2.5% after fees and tax, regardless of fund selection.

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.

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

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.

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.