Consultation: Proposed guidance on KiwiSaver fees and value for money

April 2021

We considered the submissions received on this consultation, and used them to help us refine and finalise our guidance for managers and supervisors of managed funds. We have also published a submissions report that summarises the key feedback themes and our response, along with the individual submissions (see links above).

December 2020

We are seeking input on the regulatory approach to the statutory requirement that KiwiSaver fees must not be unreasonable and the related overarching statutory duties.

Feedback will be used to help us refine our proposed guidance for managers and supervisors of KiwiSaver schemes. The guidance will clarify:

• the statutory duties of managers and supervisors in relation to fees and value for money
• what factors should be considered when assessing whether fees are unreasonable and whether KiwiSaver fees are providing value for money
• examples of when fees may be unreasonable
• the FMA’s role and enforcement options.

Submissions close Monday 14 December.