Explaining KiwiSaver fees
You’ll pay fees for investing in the BNZ KiwiSaver Scheme funds. Fees are deducted from your investment and will reduce your returns.
Your annual statement includes a calculation of the total fees you’ve been charged for that year. More about how KiwiSaver fees are calculated PDF 42KB
Management fee
We use global and local specialist investment managers to manage your funds. They are skilled and experienced in analysing financial markets, and managing risks. Part of the management fee is used to pay our investment managers for their time and expertise. More about our investment approach
The management fee is also used to pay other underlying investment costs, including the Supervisor’s fee and administration costs of the funds (such as audit fees, registry services and unit pricing and accounting services).
The fee is calculated as a percentage of the net asset value of each fund, and is already deducted from your investment, so returns will be reduced. You don’t need to pay this separately and it doesn’t appear as a transaction on your account.
Table of management fees
| Fund | Management fee |
|---|---|
| Cash Fund | 0.30% p.a. |
| First Home Buyer Fund | 0.45% p.a. |
| Conservative Fund | 0.45% p.a. |
| Moderate Fund | 0.45% p.a. |
| Default Fund | 0.35% p.a. |
| Balanced Fund | 0.45% p.a. |
| Growth Fund | 0.45% p.a. |
| High Growth Fund | 0.45% p.a. |
Example of how the management fee is applied
John invests $10,000 in the Moderate Fund. If his balance stays the same the whole year, he’ll pay a total of $45 in fees for the year ($10,000 x 0.45%).
The management fee will vary if his account balance increases or decreases over the year.