KiwiSaver Fees are falling

KiwiSaver is big business for fund managers now.  Launched on 1st July 2007 - KiwiSaver is now 12 years old.  The total amount of money invested in KiwiSaver is $54,661,000,000 and in the quarter ended 31/03/2019 the value of funds invested in KiwiSaver increased by $4,453,000,000.

The two largest providers of KiwiSaver are ANZ/OneAnswer (many of Moneyworks clients invest in the ANZ OneAnswer KiwiSaver offering) with $13,484,000,000 and ASB with $10,032,000,000.

There are 16 different KiwiSaver providers, and 154 funds.

As Moneyworks clients know, our focus has always been on the after fees return of fund managers, and we do not believe that the lowest fee is always the best option.  It is clear from our analysis that some of the higher fee KiwiSaver managers have consistently been the best performers.

However, it is good to see that ANZ KiwiSaver announced a fall in the membership fees for all their clients from 1st April 2019.  The ANZ member fees were always at the lower end at $2.00 a month, but as the business has become more profitable for the fund manager, they have decreased these fees as follows: (every little bit counts!)

For all members the monthly membership fee has been reduced from $2.00 to $1.50 a month.

For all members younger than 18 years old there is now NIL- no - monthly membership fee.

If you have joined KiwiSaver through a group scheme at your work (called a Preferred Provider Agreement) then these are your new fees:

No of PPA members per employer

PPA discount

Membership fee prior to

1 April 2019

New membership fee from

1 April 2019






















Since ANZ's announcement, Kiwiwealth and BNZ have also reduced their fees.


This website is operated by Moneyworks NZ Ltd and is not endorsed by, or affiliated with, the New Zealand government or Inland Revenue. Moneyworks NZ Ltd is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click Here


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