KiwiSaver Report 2018
Getting the best out of KiwiSaver is incredibly important to so many New Zealanders and a way people can do that is by making an active choice about where to invest their money. Default providers have overall raised their game in this area, persuading members to actively choose a fund - the number of people in default funds is at its lowest for 7 years.
We think a few providers could do more, so we have sought detailed plans from them for the coming year and will be monitoring their performance against these plans. We’ll continue to look for ways we can work with providers, and share information to help investors make informed decisions for their retirement.
Liam Mason, Director of Regulation explains more:
|Total default members||Default members making an active choice within the named scheme number|
The average investment management fee paid by members was $117, up 19.1% on last year. This year we worked to raise awareness of fees, through our KiwiSaver tracker tool, which allows you to compare fees and returns across fund types to find out if you are getting value for money. We also ran a campaign to encourage people to check their annual statements, which for the first time showed fees by dollar amount.
The charts below show how fees and returns changes over the last five years for both active and default members.
*Total fees include administrations fees, investment management fees, trustee fees and other scheme expenses.
*Total fees includes administration fees, investment management fees, trustee fees and other scheme expenses.
The asset breakdown in each KiwiSaver fund differs, depending on which type of fund you choose of and what your risk appetite is. These graphs show where your KiwiSaver assets are invested.
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