How much are KiwiSaver fees in NZ?
Across the market, total KiwiSaver fees average around 0.71% of your balance a year (FMA KiwiSaver Annual Report, 2025). That is the headline, but it hides a wide spread: two funds of the same type can charge very different amounts, and the difference is money out of your balance every year whether the market rises or falls.
This article shows you the fees to look for, what they cost in dollars, and how to compare like with like.
The fees you are actually paying
Most KiwiSaver fees are now bundled into a single annual fund charge, shown as a percentage of your balance. Since 2018 the FMA has required providers to also show your fees as a dollar figure on your annual statement, so dig that statement out before you compare anything.
Watch for three things:
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The total annual fund charge, as a percentage and in dollars.
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Any fixed membership or administration fee, charged as a flat dollar amount.
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Whether the fund is actively managed or passive, which partly explains why one charges more than another.
What a fee gap costs in dollars
A percentage sounds harmless. In dollars it is clearer. Here is the annual fee on different balances at three fee levels.
| Balance | 0.50% a year | 1.00% a year | 1.50% a year |
|---|---|---|---|
| $20,000 | $100 | $200 | $300 |
| $50,000 | $250 | $500 | $750 |
| $100,000 | $500 | $1,000 | $1,500 |
These are first year figures. The catch is compounding: every dollar paid in fees is also a dollar that stops earning returns for the rest of your working life. The FMA and Sorted both note that a fee difference of around 1% can reduce a final balance by tens of thousands of dollars over a few decades. See the Sorted KiwiSaver calculator.
For why this matters so much over time, see is it worth switching KiwiSaver.
Cheaper is not automatically better
A low fee on a fund that does not suit your timeframe is a false economy. Compare fees within the same fund type: a passive growth fund against another passive growth fund, not against a conservative one. See how KiwiSaver fees work, which explains active versus passive and what you should expect to pay for each.
If you are not certain which fund type you are even in, check are you in the right KiwiSaver fund.
How to compare and switch
Find your current total fee on your annual statement, note your fund type, then line your provider up against the others on the same basis. When a cheaper fund of the same type looks right, switching takes minutes; see how to switch KiwiSaver providers.
Compare KiwiSaver fees side by side.
Frequently asked questions
What is a good KiwiSaver fee?
There is no single threshold, but the market average is around 0.71% a year (FMA, 2025). Compare within your fund type; passive funds usually charge less than actively managed ones.
Where do I find what I am paying in KiwiSaver fees?
Your annual statement shows your fees as both a percentage and a dollar figure. Providers have been required to show the dollar figure since 2018.
Do lower fees mean lower returns?
Not necessarily. Fees are a certain cost; returns are not guaranteed. Lower fees leave more of any return in your account, which is why they are the part worth controlling.
Will switching to a lower fee fund cost me?
Most providers do not charge to switch, and your balance and membership move with you. Check your current provider’s terms before you apply.
Kāhu provides general information, not personalised financial advice. Kāhu is a KiwiSaver comparison and switching platform operated by Financial Advice NZ Limited, a licensed Financial Advice Provider (FSP1009051). The figures here are general and current as at June 2026. For advice on your situation, speak to a licensed financial adviser.