Compare KiwiSaver from a panel of NZ providers — fund types, fees, performance and member services.
Last updated 8 June 2026 · By MoneyGuru Editorial Team
total KiwiSaver funds under management
The FMA's 2025 KiwiSaver Annual Report puts total funds under management above $120 billion. A 1% per-year fee difference compounds significantly over a 30-year horizon — small differences matter.
Source: Financial Markets Authority (FMA) · FMA KiwiSaver Annual Report 2025 (published 10 September 2025) · verified 2026-06-09
A panel of New Zealand KiwiSaver providers we compare
A short profile of each NZ KiwiSaver provider on our panel.
Large NZ KiwiSaver provider
Strengths
Considerations
Suited to: Members wanting a bank-tied provider with full product range.
CommBank Group NZ
Strengths
Considerations
Suited to: ASB customers wanting bank-tied KiwiSaver.
Australian-owned bank provider
Strengths
Considerations
Suited to: Westpac customers wanting bank-tied KiwiSaver.
NAB-owned bank provider
Strengths
Considerations
Suited to: BNZ customers wanting bank-tied KiwiSaver.
Specialist fund manager
Strengths
Considerations
Suited to: Members wanting an actively managed approach from an NZ-owned manager.
Side-by-side provider features at a glance.
| Provider | Fund types | Active / Passive | Default fund | Account access | Distribution |
|---|---|---|---|---|---|
| ANZ | Defensive to growth | Mix | Default | Online + app | Bank-tied |
| ASB | Defensive to growth | Mix | Default | Online + app | Bank-tied |
| Westpac | Defensive to growth | Mix | Default | Online + app | Bank-tied |
| BNZ | Defensive to growth | Mix | Default | Online + app | Bank-tied |
| Fisher Funds | Defensive to growth | Active | Default | Online | Specialist |
Four steps to work through.
3% to unlock employer matching, more if your retirement plan needs it. Higher rate = lower take-home pay but bigger balance later.
Long horizon (decades to retirement) = growth or aggressive. Short horizon (less than 5 years) = conservative or defensive.
A 1% fee difference compounds over decades. Pay only for active management if you believe it adds value.
Set a yearly check-in. Review fund choice, contribution rate, and whether your provider still suits.
KiwiSaver is a voluntary retirement savings scheme run by NZ private providers under government oversight. Employees contribute 3-10% of gross pay, with employer matching at 3% and an annual government contribution. Members choose a provider and a fund within that provider's range — defensive (mostly cash and bonds) to aggressive (mostly shares). Money is locked in until age 65 with limited early-withdrawal grounds (first home, hardship, serious illness).
Compare fees first — small differences compound to large amounts over decades. Then weigh active vs passive management against long-run performance net of fees. Then look at member services — investment choice, advice access, online experience. Switching providers is friction-free, so do not be afraid to move if the current provider is not earning its fee.
A short questionnaire — typically takes about two minutes.
Your enquiry is sent to Evolve Group Limited (FSP711891), our partner Financial Advice Provider.
The adviser sources quotes across a panel of NZ insurers or lenders and walks you through the options.
No obligation to apply, switch or buy. You decide whether to proceed.
Employees can choose 3%, 4%, 6%, 8% or 10% of gross pay. The minimum employee contribution unlocks the matching employer contribution (3% of gross pay). Beyond that, higher contributions are personal savings choices — the higher percentage matches your retirement goal but reduces take-home pay.
These are risk profiles. Defensive holds mostly cash and bonds, suitable for short investment horizons. Aggressive holds mostly shares, suitable for long horizons. Balanced sits in the middle. The right profile depends on how many years until you need the money and your tolerance for short-term losses.
KiwiSaver fees compound. A 1% per year difference in fees over 30 years can reduce the final balance by a meaningful percentage. Compare both annual fund management fees and any membership / administration fees.
Two main triggers: turning 65, or first-home purchase. First-home withdrawal lets you take all but a small minimum if you have been a member for at least three years and meet first-home buyer criteria. Significant financial hardship and serious illness are also withdrawal grounds in specific circumstances.
Yes, if you have been a KiwiSaver member for at least three years and the home will be your main residence. You can withdraw your contributions plus employer + investment returns, leaving a minimum amount in the account. The First Home Grant is no longer available — the withdrawal is the remaining first-home benefit.
At age 65 you can withdraw the full balance as cash, set up regular withdrawals, or leave it invested and draw down over time. Many members shift to a more defensive fund profile in the years approaching retirement to lock in gains.
Yes, any time. The new provider arranges the transfer. There is no exit fee for changing — the only friction is choosing the right provider and fund. Changing too often is more about second-guessing than improving outcomes.
The government contributes part of every dollar you contribute, up to an annual cap. The cap was reduced in Budget 2025 — confirm the current cap before relying on a specific figure. Eligibility requires being a member, contributing during the year, and being aged 18+.
Mortgages NZ →
Home loan rates and refinance comparison.
Shares and investing NZ →
NZX and overseas share investing.
Life insurance NZ →
Lump-sum cover for mortgage and dependants.
FundCompare ↗
Fund-by-fund NZ KiwiSaver returns, fees, Morningstar ratings and Disclose-Register data.
KiwiSaver Comparison ↗
Provider directory and per-scheme deep-dive sister site.
ManagedFundsNZ ↗
Managed-fund universe beyond KiwiSaver — same data layer, deeper screening.
Our methodology →
How we research and compare each vertical.
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