What's my PIR?
Find your correct NZ Prescribed Investor Rate for KiwiSaver and PIE funds. Using the wrong PIR means a year-end tax bill (or a refund) — so let's get it right.
Your PIR is based on the last two income years. For each year, enter your taxable income (salary, wages, interest, etc.) and any attributed PIE income (what your KiwiSaver or PIE fund reported). The calculator uses the lower of the two qualifying rates, per IRD rules.
Income Year 1 (most recent, ended 31 March 2026)
Income Year 2 (previous, ended 31 March 2025)
Your PIR is
17.5%
Year 1 qualifies for 28% and year 2 for 17.5%. IRD applies the lower rate, so your PIR is 17.5%.
Year 1 qualifying rate
Taxable $60,000 + PIE $0 = $60,000 combined
Year 2 qualifying rate
Taxable $50,000 + PIE $0 = $50,000 combined
Your PIR for the tax year 1 April 2026 to 31 March 2027 uses your income in the two tax years that ended 31 March 2025 and 31 March 2026. A pay change this year cannot move it; it only counts from 1 April 2027, when the year ending 31 March 2025 drops out.
| Tax year | PIR now | PIR from 1 April 2027 |
|---|---|---|
| Ended 31 March 2025 | Counts (17.5%) | Drops out |
| Ended 31 March 2026 | Counts (28%) | Counts |
| This year, ending 31 March 2027 | Not yet | Counts once it ends |
Estimate this year to preview next April (optional)
PIR vs your marginal rate
Your marginal income tax rate at $60,000 is 30.0%. Every $1,000 of PIE income is taxed at 17.5% (=$175) instead of your marginal rate ($300) — saving $125 per $1,000 of PIE returns.
| PIR | Taxable income (excl. PIE) | Combined (taxable + PIE) |
|---|---|---|
| 10.5% | ≤ $15,600 | ≤ $53,500 |
| 17.5% | ≤ $53,500 | ≤ $78,100 |
| 28% | Otherwise | Otherwise |
A qualifying rate is assessed in each of the last two income years. Your PIR is the lower of the two. PIR thresholds are set by the Income Tax Act 2007 schedule 6, table 1. The Taxation (Budget Measures) Act 2024 raised them to the same cutoffs as the PAYE brackets from the 2025-26 income year — before that, for 2024-25, the two ladders were genuinely different.
Since 1 April 2020, IRD reconciles your PIE tax as part of the end-of-year auto-assessment:
- Rate too low: you'll receive an auto-assessment tax bill for the shortfall.
- Rate too high: IRD refunds the overpaid PIE tax in your assessment.
Before 1 April 2020 the rules were harsher: a too-low rate meant IRD topped you up at your marginal rate, but a too-high rate was locked in — no refund.
Give your correct PIR to every PIE provider (including KiwiSaver) and update it whenever your income changes materially.
About the two-year test
IRD assesses your PIR on a rolling two-year window. For each of the last two income years, a qualifying rate is derived from your taxable income and your attributed PIE income. Your overall PIR is the lower of those two qualifying rates — this means a single high-income year won't automatically push you up a bracket if the other year was lower.
PIR thresholds ($15,600 / $53,500 / $78,100) are set by the Income Tax Act 2007 schedule 6, table 1 — not by §HM 60, which is the separate rule about notifying your rate to your provider and the 28% default if you don't. The Taxation (Budget Measures) Act 2024 raised them from the older $14,000 / $48,000 / $70,000 ladder, applying from the 2025-26 income year, so they now match the PAYE bracket cutoffs. For 2024-25 the two ladders really were different — if you are checking an older year, use that year's figures.
When a change in income reaches your PIR
The PIR you give your provider now uses the tax years that ended 31 March 2025 and 31 March 2026. Income in the year ending 31 March 2027 only counts from 1 April 2027, when the year ending 31 March 2025 drops out. Two examples at this year's thresholds:
| Example | Year ending 31 March 2025 | Year ending 31 March 2026 | Year ending 31 March 2027 | PIR now | PIR from 1 April 2027 |
|---|---|---|---|---|---|
| Income drops this year | $80,000 | $80,000 | $40,000 (estimate) | 28% | 17.5% |
| Low year drops out | $40,000 | $80,000 | $80,000 (estimate) | 17.5% | 28% |
In the first example the pay cut does not lower the PIR until 1 April 2027. In the second, the PIR is 17.5% now only because of the low year ending 31 March 2025; once it drops out, both remaining years are above the middle threshold. Taxable income here excludes PIE income, and both examples have no PIE income. Enter your own years, with an estimate for this one, in the calculator above.
PIR by income (each qualifying year)
For each of the last two income years, your qualifying rate is the first row your income fits — using both your taxable income (excluding PIE) and your combined (taxable + PIE) income. Your actual PIR is the lower of the two years' qualifying rates. Thresholds for this year are $15,600 / $53,500 / $78,100.
| Taxable income (excl. PIE) | Combined income | PIR |
|---|---|---|
| ≤ $15,600 | ≤ $53,500 | 10.5% |
| ≤ $53,500 | ≤ $78,100 | 17.5% |
| anything higher | anything higher | 28% |
Both conditions in a row must hold to qualify for that rate; otherwise you move to 28%. Non-residents use 28%.
Worked examples
$40,000 salary + $3,000 PIE
Taxable $40,000 ≤ $53,500 and combined $43,000 ≤ $78,100 → 17.5%.
$12,000 salary + $2,000 PIE
Taxable $12,000 ≤ $15,600 and combined $14,000 ≤ $53,500 → 10.5%.
$80,000 salary
Taxable $80,000 exceeds $53,500 → 28% (the cap, below your 33% marginal rate).
Frequently asked questions
What is a Prescribed Investor Rate (PIR)?
A PIR is the rate at which a Portfolio Investment Entity (PIE) — including KiwiSaver and most managed funds — pays tax on the investment income attributed to you. The three rates are 10.5%, 17.5% and 28%. Giving your provider the correct PIR means the fund withholds the right amount on your behalf.
How is my PIR worked out?
IRD applies a two-year test. For each of the last two income years, your qualifying rate is determined by your taxable income (excluding PIE) and your combined (taxable + attributed PIE) income against the statutory thresholds — $15,600 / $53,500 / $78,100 for 2026-27. Your overall PIR is the lower of the two qualifying rates. The thresholds are set by Income Tax Act 2007 schedule 6, table 1, and the Taxation (Budget Measures) Act 2024 raised them to match the PAYE bracket cutoffs from the 2025-26 income year.
What happens if I use the wrong PIR?
Since 1 April 2020, IRD automatically reconciles PIE tax at year-end. If your rate was too low, you'll get a tax bill for the shortfall; if it was too high, IRD refunds the overpayment. Before 1 April 2020, a too-high rate was locked in with no refund.
What is my PIR as a non-resident?
Non-residents for NZ tax purposes use 28% by default. Some providers can register you for a non-resident PIE with different rules — check with your provider.
Do I need to update my PIR?
Yes. Check your PIR each year and tell each PIE provider (including KiwiSaver) the new rate. It follows your income in the two income years before the tax year, so a pay rise lifts your PIR only once both of those years are above a threshold, while a pay cut can lower it as soon as one of them is below.
Is the PIR the same as my marginal tax rate?
No. The PIR is capped at 28% even if your marginal income tax rate is 30%, 33% or 39%. That cap is the main reason PIE funds are tax-efficient for higher earners. See our PIE vs Direct Investment calculator to quantify the difference.
Related Calculators
PIE vs Direct Investment
Quantify how much tax your PIR saves vs direct shares.
KiwiSaver Retirement Projector
Project your KiwiSaver balance — uses your PIR for fund tax.
Dividend Tax Calculator
Tax on NZ dividends with imputation credits.
Income Tax Calculator
Work out your taxable-income figure to plug in above.
Source: IRD — Find my prescribed investor rate; Income Tax Act 2007 schedule 6, table 1 (s HM 56(1)), as amended by the Taxation (Budget Measures) Act 2024 s 39. Last updated 8 September 2026.
Related Calculators
Managed fund fee calculator
Lifetime $ cost of fund fees on a KiwiSaver or managed fund
Investment fund calculator
Managed fund projection after fees and PIE tax
Can I retire at 65?
Decision tool: KiwiSaver + NZ Super + savings vs target spending
NZ Super calculator
Take-home NZ Super by tax code and living status
NZ Super eligibility
Age-65 residence duration and status check
All calculators
Browse every NZ retirement and investment tool