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KiwiSaver Providers in NZ

Taking your KiwiSaver investment seriously is important, and being with the right provider can save you tens of thousands over the course of your lifetime. There’s a range of providers out there and they all want you to sign up with them. Some of these providers are banks while others are finance companies, and just because you already have an account with one of these providers doesn’t mean they are the best for your KiwiSaver. 

One of the most important factors is age; the best performing KiwiSaver will mean differently based on how old you are. If you are almost retiring, you’ll want something reliable, so you won’t lose any of the funds you’ve spent so long saving. If you’re young you’d want to chase the biggest gains since you’re in the position to bounce back.

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There are a range of factors that you should be looking at when comparing options for your KiwiSaver provider. The first thing is the fees; both administrative and annual percentage fees. Administrative fees are usually quite negligible between $0-$3 per month, but it’s the annual percentage fees that can reach up to 1.5% and can take a chunk of your investment. 

The other thing is making sure that a provider has the right fund for you. Most have between 3-6 funds available for KiwiSaver but some providers have more. Funds are often broken up based on their percentage of income assets and growth assets, but you want to look at the composition of the assets. A Booster KiwiSaver or a Generate KiwiSaver will have a different composition to an ANZ KiwiSaver. Income assets become slightly more risky when they incorporate fixed interest assets. 

You’ll also want to be aware of any extra tools that providers offer, maybe for forecasting so you can be smart with your money. Compare KiwiSaver schemes with Glimp now to find the best KiwiSaver provider.

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anz KiwiSaver nz


ANZ have been one of the biggest banking giants in NZ and Australia for a while now and they’ve broadened their services to offer KiwiSaver too. ANZ offers a variety of KiwiSaver funds so that there is a fund to suit everyone’s needs. While their fees may be higher than some of the other KiwiSaver providers, their active management of the funds means that they are actively trying to get you the best return possible on your investment. 

ANZ have growth fund, balanced growth fund, balanced fund, conservative balanced fund, conservative fund, and cash fund. Even though their funds are actively managed, they do not charge performance fees. While ANZ’s KiwiSaver fees may be considered high compared to other providers, there are no joining fees, no exit fees, no performance fees, and you can transfer between funds anytime, providing great flexibility.

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 asb KiwiSaver nz


If you’re looking for great flexibility and a great choice of funds, ASB should be the KiwiSaver provider to choose. You’ll get the ultimate transparency for your investment through their online service and mobile app to be able to view and track your KiwiSaver performance. 

Depending on the type of fund you have chosen under ASB, you’ll be charged a specific annual fund fee. The more aggressive the fund, the higher the annual fees. Their administration fee per month is $2.50, and annual fund charges from 0.35% - 1.00% p.a. of the net asset value of the fund.

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bnz KiwiSaver nz


If you’re after a KiwiSaver provider that you can rely on, BNZ could be the KiwiSaver provider for you. They offer six different funds, each of different rates of risk and potential earnings so that there’s something for everyone. BNZ provides you with assurance that your investment will be responsibly handled in terms of ethics, so you can rest easy knowing your future savings are in good hands.

For KiwiSaver members with low balances, BNZ could be the best KiwiSaver provider, since the annual management fee depends on the fund chosen. You’ll manage your money more easily this way because the fees are aligned to the fund of your choice.

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kiwi wealth KiwiSaver nz

Kiwi Wealth

Kiwi Wealth, operated by Kiwibank, is a renowned KiwiSaver provider and has risen to prominence since 2000. They prioritize your needs first, from getting you the savings that you need to buy your first home, to retiring comfortably with enough money. 

Kiwi Wealth are dedicated to providing their members with great savings at cheap rates, and have shown this through their actions as since April 2019, they announced a fee reduction and have reduced the fees of the Conservative fund and the Balanced fund - leading to the fees for these funds being some of the lowest of all KiwiSaver providers. In addition, they do not charge a membership fee on top of the annual management fee.

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booster KiwiSaver nz


Since Booster began in 1998, they have taken on the responsibility of handling money from Kiwis all around New Zealand. They pride themselves on their responsible investing and the performance that their funds deliver. They only offer three funds, being a Conservative fund, Balanced fund and a Growth fund, to make it simple. 

Since Booster’s investments are actively managed, their fees are generally a bit higher than other KiwiSaver providers. However, this also reflects the performance that their funds generally provide their members with. They only charge a membership fee to those with account balances above $500.

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fisher funds KiwiSaver nz

Fisher Funds

Fisher Funds are there to help you accomplish your savings goals so that you can buy your first home earlier and/or so that you can retire with a handsome amount of money to get you by. Fisher Funds have one of the largest investment teams in New Zealand, which can tell you that they’re focused on delivering great performance. With  three different investment strategies to choose from, you can be certain that there’ll be a fund for you: conservative fund, balanced, and growth fund. 

With Fisher Funds, you’ll be charged a fixed management fee and estimated fees (costs and expenses, and performanced-based fees). Fisher Funds KiwiSaver scheme, and then you’ll be paying higher fees once you start contributing to your fund. Keeping this in mind, there are no exit or joining fees and you can switch between funds for free, allowing you to have maximum flexibility.

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generate KiwiSaver nz


Generate are KiwiSaver specialists that have a strong focus on retirement savings. As their name suggests, their aim is to provide sustained market-beating growth for their KiwiSaver schemes. They only offer three funds, which are the Conservative fund, Growth fund and the Focused Growth fund - which show their enthusiasm for aggressive investments and taking on more risk. 

Because Generate actively manage their funds to provide the best performance possible, their KiwiSaver fees are higher than some other KiwiSaver providers. Their Conservative fund charges an annual fee of 1.23%; Focused Growth fund charges 1.59% a year; and Growth Fund 1.47% a year.

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juno KiwiSaver nz


Juno are one of the newest KiwiSaver schemes to enter the market, with the aim of providing lower fees while attempting to outperform the market. Starting in 2018, they were proven to be a great competitor of other KiwiSaver providers, with their potential set to shine through in the next few years. They keep their number of funds offered to just three to keep things simple. 

While other KiwiSaver providers often charge two fees, being an annual fee and management fee, Juno only charge one fee: a monthly fee is charged based on your balance - meaning you’ll know exactly how much you’ll be paying for fees each year.

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mercer KiwiSaver nz


Mercer are one of the more flexible KiwiSaver providers to enter the scene, offering seven different funds to choose from - providing members with a spectrum of risk, and varying potential levels of returns. They are a trusted KiwiSaver provider, winning many awards for their services over the years and showing that they’ll get you the results you need.

Mercer charges three different fees, being management fees, membership fees and performance fees. However, Mercer do not charge any joining or exit fees and you can freely switch between funds at no extra cost, allowing you to flexible with Mercer.

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milford KiwiSaver nz


The award winning KiwiSaver provider Milford, are a great choice if you’re wanting strong performance with your KiwiSaver account. They consistently track high returns for all of their funds to ensure top performance year after year. Milford offer six different funds, consisting of the Conservative fund, Balanced fund, Aggressive fund, Cash Fund, Active Growth Fund, Moderate Fund. 

Milford’s KiwiSaver fees are generally higher than the industry average fee, mainly because their funds are actively managed. Except for the Cash Fund and Conservative Fund, Milford charges a performance fee and all funds are charged with a base fee.

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superlife KiwiSaver nz


Superlife’s KiwiSaver scheme offers their customers flexibility, extremely low fees and a wide range of options to choose from - a combination that has attracted many customers. They have a whopping 41 fund options to choose from, meaning that there’s something for almost everyone. 

SuperLife charge some of the lowest fees in the KiwiSaver market for their funds, making them an appealing KiwiSaver provider for many people. Their fees are lower compared to other KiwiSaver providers because many of their funds are invested in index funds, meaning they are not actively managed.

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simplicity KiwiSaver nz


Simplicity are a not-for-profit company that aims to provide Kiwis across New Zealand with a great financial solution for their retirement and for funding first home purchases. Because they are a not-for-profit organisation, they only charge their members what it costs, meaning there’s no markup involved so that their members can get the best value possible. Simplicity are committed to ethical investing and they have four fund types with different amounts of risk. 

Simplicity as their name implies, like to keep their business simple and the same goes with their fees. They have an annual membership fee of $20 and they charge an additional $3.10 fee per $1,000 that you have saved per year.

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westpac KiwiSaver nz


Westpac operates one of the biggest KiwiSaver schemes in New Zealand, with close to 1 in 8 members choosing Westpac as their KiwiSaver provider. Westpac’s success with KiwiSaver comes down to their flexibility, fund performance and transparency. 

One of the pros when it comes to Westpac, is that they do not charge any performance fees, which is uncommon when it comes to actively managed funds. However, because their funds are actively managed, their annual fees are higher than other companies. Only the Moderate Fund applies an administration fee to go with the annual fee. With Westpac, there are also no joining or exit fees and you can switch freely between funds.

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KiwiSaver Default Providers

If you don’t have a KiwiSaver set up, and your employer doesn’t have a preferred scheme, Inland Revenue will assign you at random to one of their 9 government appointed default providers. These providers are AMP, ANZ, ASB, Booster, BNZ, Fisher Funds, Kiwi Wealth, Mercer and Westpac. 

You will always be put into the conservative fund regardless of who you are assigned to. You retain the option to change your provider to whomever you would like. The KiwiSaver default fund performance will be reliable from all 9 of these providers, but it may not quite be the best option for you. You should do some comparison and figure out which provider can offer you the best KiwiSaver performance.

Best KiwiSaver Schemes 

It’s difficult to describe the best KiwiSaver scheme because it is so variable. Different people will have specific goals for their KiwiSaver. Sometimes it could be looking for a KiwiSaver provider that has the lowest fees. Maybe you’d want the KiwiSaver with the best track record in growth funds, so you can make more money even if they have slightly higher fees. Maybe the most important thing for you is ethics, in which case you’ll want a provider who can offer ethical funds which exclude investments in business that don’t meet a set of ethical criteria. 

When it comes to KiwiSaver, the more you know the better your decision making will be, so it pays to spend some time researching. This investment of yours will sustain you into retirement so you’ll want to make sure it’s doing as well as possible.