Funds compared
104
From 18 providers
Product
Provider
Rate
Fee
Compare KiwiSaver funds in New Zealand
Compare fees, returns and risk levels across all major KiwiSaver providers.
Lowest fee (on $50k)
$100
Annual total fee
Best 1yr return
14.8%
Past performance
Providers
18
Across NZ market
$
$120Fee/yr on $50kMgmt: 0.24%
8.68%1yr return+$4,220 net on $50k
$120Fee/yr on $50kMgmt: 0.24%
5.39%1yr return+$2,575 net on $50k
$120Fee/yr on $50kMgmt: 0.24%
8.79%1yr return+$4,275 net on $50k
$120Fee/yr on $50kMgmt: 0.24%
3.52%1yr return+$1,640 net on $50k
$120Fee/yr on $50kMgmt: 0.24%
10.72%1yr return+$5,240 net on $50k
$120Fee/yr on $50kMgmt: 0.24%
12.21%1yr return+$5,985 net on $50k
$125Fee/yr on $50kMgmt: 0.25%
12.80%1yr return+$6,275 net on $50k
$125Fee/yr on $50kMgmt: 0.25%
3.87%1yr return+$1,810 net on $50k
$135Fee/yr on $50kMgmt: 0.27%
—1yr return
$236Fee/yr on $50kMgmt: 0.40%
3.66%1yr return+$1,594 net on $50k
$315Fee/yr on $50kMgmt: 0.63%
6.02%1yr return+$2,695 net on $50k
$356Fee/yr on $50kMgmt: 0.64%
5.94%1yr return+$2,614 net on $50k
$375Fee/yr on $50kMgmt: 0.75%
7.44%1yr return+$3,345 net on $50k
$460Fee/yr on $50kMgmt: 0.92%
11.37%1yr return+$5,225 net on $50k
$480Fee/yr on $50kMgmt: 0.96%
4.51%1yr return+$1,775 net on $50k
$481Fee/yr on $50kMgmt: 0.89%
7.61%1yr return+$3,324 net on $50k
$481Fee/yr on $50kMgmt: 0.89%
6.80%1yr return+$2,919 net on $50k
$490Fee/yr on $50kMgmt: 0.98%
14.77%1yr return+$6,895 net on $50k
$536Fee/yr on $50kMgmt: 1.00%
7.73%1yr return+$3,329 net on $50k
$585Fee/yr on $50kMgmt: 1.17%
7.67%1yr return+$3,250 net on $50k
$640Fee/yr on $50kMgmt: 1.28%
9.32%1yr return+$4,020 net on $50k
$671Fee/yr on $50kMgmt: 1.27%
8.49%1yr return+$3,574 net on $50k
104 results · Fees and returns indicative only · Confirm with provider before investing
How to choose the right KiwiSaver fund in New Zealand
KiwiSaver is New Zealand's voluntary, work-based retirement savings scheme. Your money is invested in a managed fund, grows over time, and can be withdrawn when you reach 65 or to buy your first home. Choosing the right fund and contribution rate can make tens of thousands of dollars of difference by retirement. Here's what you need to know.
KiwiSaver fund types — Conservative vs growth
Every KiwiSaver provider offers a range of fund types with different risk-and-return profiles. The main difference is how much of your money goes into growth assets (shares, property) versus income assets (bonds, cash).
Defensive
Mostly cash and bonds. Lower returns but minimal short-term ups and downs. Suited to people within 5 years of withdrawing their money.
- Typical growth assets
- 10–24%
- Target investor
- Near retirement or saving for a first home soon
Conservative
Weighted toward bonds and cash with a small share allocation. Designed to preserve capital while still earning modest growth.
- Typical growth assets
- 25–34%
- Target investor
- Low risk tolerance, 5–10 year horizon
Balanced
A roughly even split between growth and income assets. Offers moderate growth with some cushion against market downturns.
- Typical growth assets
- 35–62%
- Target investor
- Medium risk tolerance, 10+ year horizon
Growth
Mostly shares and property. Higher long-term returns but larger short-term swings. Ideal when you have decades before you need the money.
- Typical growth assets
- 63–89%
- Target investor
- Higher risk tolerance, 10–30+ year horizon
Aggressive
Almost entirely in shares. Highest potential returns but the biggest fluctuations year-to-year. For long time horizons only.
- Typical growth assets
- 90–100%
- Target investor
- Young savers with 20+ years to retirement
Tip — your fund type matters more than your provider
Research shows that asset allocation (the split between growth and income assets) explains most of the variation in long-term returns — far more than which provider you're with. Choosing the right fund type for your timeline is the single most impactful decision you can make.
How much to contribute to KiwiSaver
If you're employed, you choose an employee contribution rate that gets deducted from your before-tax pay. Your employer must also contribute at least 3%. Here are the available rates:
3%Minimum
The default rate. Employer matches at 3%.
4%Standard
A small step up for slightly faster savings growth.
6%Mid-range
Good balance between take-home pay and retirement savings.
8%Higher
Noticeably accelerates growth over a working lifetime.
10%Maximum
Maximises retirement savings. Best if you can afford it.
The power of even 1% more
Increasing your contribution rate from 3% to 4% on a $70,000 salary adds roughly $700 per year before investment returns. Over a 30-year career with compound growth, that small difference can result in tens of thousands more at retirement.
Government contributions, employer matching & tax
Government Contribution
If you're aged 18–64 and contribute at least $1,042.86 per year to your KiwiSaver, the government adds up to $521.43 annually (50 cents for every dollar, capped). This is essentially free money.
Employer Contribution
Your employer must contribute at least 3% of your gross salary. Some employers offer more as part of their benefits package. Combined with your own contributions, this significantly boosts your balance.
First Home Withdrawal
After 3 years of KiwiSaver membership, you can withdraw most of your balance to put toward your first home. You may also be eligible for the Kāinga Ora First Home Grant of up to $10,000 per person.
Don't forget the First Home Grant
If you've been a KiwiSaver member for at least 3 years and meet the income cap ($95,000 individual or $150,000 combined), you may qualify for a First Home Grant of $1,000 per year of membership, up to $5,000 for an existing property or $10,000 for a new build. This is separate from your KiwiSaver withdrawal.
KiwiSaver fees explained
Every KiwiSaver fund charges fees that reduce your returns. Even a small difference in fees compounds into a large difference over decades. There are two main types:
Management Fee (Fund Charge)
A percentage of your total balance charged annually. Ranges from around 0.20% for passive index funds to over 1.50% for actively managed funds. This is usually the largest cost.
Fixed Annual Fee
A flat dollar amount charged regardless of your balance — typically $18–$36 per year. Less significant for large balances, but it matters when you're just starting out.
How much do fees really cost?
On a $50,000 balance, the difference between a 0.30% fund and a 1.30% fund is about $500 per year in fees. Over 25 years with compounding, that fee gap could cost you $30,000+ in lost returns. Compare fees carefully using the table above.
KiwiSaver FAQ
Can I withdraw my KiwiSaver before age 65?
In most cases, no — KiwiSaver is locked in until you turn 65 or have been a member for at least five years (whichever is later). The main exceptions are a first-home purchase (after 3 years of membership), significant financial hardship, serious illness, or permanent emigration (except to Australia).
How do I switch KiwiSaver providers?
Switching is free and straightforward. Simply sign up with your new provider and they handle the transfer of your balance. There's no break fee or lock-in period. The process usually takes 10–20 business days.
What happens to my KiwiSaver if I lose my job?
Your account stays open and your investments keep growing. You won't receive employer contributions, but you can still make voluntary contributions to get the government contribution. If you don't contribute at least $1,042.86 in a year, you won't receive the full government top-up.
Is KiwiSaver compulsory?
KiwiSaver is voluntary — you can opt out within 2–8 weeks of starting a new job. However, if you don't opt out during that window, you'll be auto-enrolled. Self-employed people and non-employees can join voluntarily at any time.
Should I choose a passive or active KiwiSaver fund?
Passive (index) funds track a market index and typically charge lower fees — often 0.20–0.50%. Active funds aim to beat the market through stock picking and may charge 0.80–1.50%+. Research shows most active funds underperform their benchmark after fees over the long term, but some consistently add value. Consider your fee tolerance and time horizon.
How much KiwiSaver will I have at retirement?
It depends on your contribution rate, salary, fund type, and how long you invest. For example, a 25-year-old earning $65,000 who contributes 3% (with 3% employer match) to a growth fund could have roughly $350,000–$500,000 by age 65, assuming average long-term returns. Increasing contributions to 6% could nearly double that amount.