Compare KiwiSaver providers in NZ
Inland Revenue's list of KiwiSaver providers (opens in a new tab), checked on 5 October 2026, names 29 providers, and Cam compares them all for you in plain English. Between them they run 34 schemes with open funds on the Disclose Register, each explained on KiwiSaver providers and schemes.
In short
There is no single best KiwiSaver provider. The right one depends on your timeframe, your risk tolerance, what you want your money invested in and what you plan to do next. Cameron Steele compares providers and funds across the wider New Zealand market, including whichever scheme you are in now, and the answer is sometimes to stay where you are.
Compare the ten schemes on Cam's implementation panel · Browse every scheme and its funds
The six things that actually affect your KiwiSaver balance
Most people compare KiwiSaver providers on advertising or brand recognition. A useful KiwiSaver comparison looks at these six factors instead, because they are what actually determine how much you end up with. For the background on each one, read how KiwiSaver providers actually differ.
Long-term performance
Past performance is not a guarantee of future returns, but long-term track records matter. Cam looks at returns after fees over 5 and 10 years - not just the most recent year, which can be misleading.
Fund types available
Different providers offer different fund ranges - from conservative to aggressive. Whether you need a growth fund for long-term retirement savings or a conservative fund ahead of a first-home purchase matters a lot.
Your situation
A provider that suits a 25-year-old saving for retirement may not suit a 35-year-old buying their first home in two years. Cam matches the right provider and fund to your specific situation and goals.
Responsible investment
Some providers actively exclude fossil fuels, tobacco and human rights violators from their funds. If your values matter as much as your returns, this is an important factor - and Cam can point you to the providers with the strongest ethical credentials.
NZ ownership and customer satisfaction
NZ ownership is one of the measures Cam weighs, and the New Zealand owned share of every scheme on the panel is in the table below - six are 100% NZ owned. He also tracks Consumer NZ satisfaction survey results and provider reputation over time - because service quality and transparency matter alongside raw performance numbers.
Fees
Every provider charges annual management fees. Even a small difference in fees compounds into a significant difference over 20-30 years. Cam compares the actual cost to you - not just the headline percentage.
Advice across New Zealand's leading KiwiSaver providers
Cam compares KiwiSaver providers and funds across the wider NZ market, including whichever scheme you are in now. Where a change of provider is right, he implements it through a selected implementation panel of ten schemes and options, compared side by side further down this page.
Compare all ten schemes side by side
Every figure below comes from the provider's own current fee page or Product Disclosure Statement on the date shown in the final column. These ten are the schemes Cam can implement through, not the whole market - he compares providers across the wider market with you, and the wider market data is on the Morningstar returns page. There is no single best KiwiSaver provider. The right one depends on your timeframe, your risk tolerance, what you want your money invested in and what you are actually going to do next.
| Scheme | Investment style | Fund categories | Annual fund charge | Fixed member fee | Ethical options | Digital tools | NZ ownership | Source | Last verified |
|---|---|---|---|---|---|---|---|---|---|
| Booster KiwiSaver Scheme | Active, alongside lower-cost index-based "Asset Class" funds | Default Saver, Capital Guaranteed, Enhanced Cash, Conservative, Moderate, Balanced, Growth, High Growth, Geared Growth, plus Socially Responsible versions of Moderate, Balanced, Growth, High Growth and Geared Growth | 0.35% to 1.34%Geared Growth 1.74%. Tiered rebates apply above $200,000. | $3 a month ($36 a year)No member fee on the Default Saver Fund. | Five Socially Responsible funds, RIAA certified. 16 screening filters, excluding fossil fuels, tobacco, military weapons, nuclear weapons and whaling | Booster NZ app (iOS and Android), Savvy debit card, mybudgetpal | 100% | Booster fees and charges | 10 August 2026 |
| Fisher Funds KiwiSaver Plan | Active"Our investment team focuses on active management." | Cash, Core Conservative, Conservative, Default, Balanced, Growth, Aggressive | 0.37% to 1.23% | NoneOn the Default Fund only, no fund charge applies if that balance is $1,500 or less. | Responsible investing policy applied across the range. No separately branded ethical fund | Fisher Funds app (iOS and Android), online account portal | 67% | Fisher Funds fees and expenses | 10 August 2026 |
| Generate KiwiSaver Scheme | Active | CashPlus, Conservative, Moderate, Balanced, Growth, Focused Growth, plus Thematic, Global and Australasian specialist funds | 0.40% to 1.25% | $3 a month ($36 a year) for members aged 18 or over | UN Principles for Responsible Investment signatory since 2018. All funds certified as Mindful Funds by Mindful Money. Excludes tobacco, whale meat, cluster munitions and nuclear explosive devices | Generate KiwiSaver app (iOS and Android) | 100% | Generate fees | 10 August 2026 |
| Kernel KiwiSaver Plan | Index-trackingThe Cash Plus and NZ Bond funds are actively managed. | High Growth, Balanced, Conservative, Cash Plus, US Bond and NZ Bond, plus 19 single-sector index funds spanning NZ, Australian, global, emerging market, property, infrastructure and thematic exposures | 0.25% to 0.45%Most funds 0.25%. NZ Bond 0.40%, Emerging Markets and Global Clean Energy 0.45%. | NoneNo contribution, withdrawal, establishment or termination fees. | NZ 50 ESG Tilted, Global ESG, Global ESG (NZD Hedged) and S&P Global Clean Energy funds | Online account portal | 100% | Kernel pricingKernel KiwiSaver Plan PDS, 6 August 2025 (Diversified and Equity Funds). | 30 August 2026 |
| Kōura KiwiSaver Scheme | Predominantly passiveTen single-sector funds combined into a personalised portfolio, built with Kōura’s digital advice tool or by choosing one of three pre-set strategies. Rebalanced six-monthly. | NZ Cash, NZ Fixed Interest, NZ Equities, US Equities, Rest of World Equities, Emerging Markets Equities, Clean Energy, NZ Property, Strategic High Growth and Bitcoin, plus Conservative, Balanced and Growth strategies | 0.63% to 1.10%Strategies 0.75% to 1.03%. Kōura caps its annual fund charges and bears any excess. | $30 a year ($2.50 a month) for members aged 18 or over | Clean Energy Fund | Online portal and digital advice tool | 80% | Kōura fundsKōura KiwiSaver Scheme PDS, 15 May 2026. | 30 August 2026 |
| Milford KiwiSaver Plan | ActiveActive Growth is an absolute return style fund. | Cash, Conservative, Moderate, Balanced, Active Growth, Aggressive | 0.20% to 1.25%Moderate, Balanced and Active Growth include an estimated performance fee. Performance fees are capped at 0.90% of the fund's average net asset value. | None | ESG analysis and active engagement with companies held, rather than a separate ethical fund range | Milford app (iOS and Android), online account portal | 80% | Milford KiwiSaver Plan PDS, 16 June 2026 | 10 August 2026 |
| Pathfinder KiwiSaver Plan | Active, built around an ethical mandate | Conservative, Balanced, Growth, High Growth | 1.20% to 1.35%High Growth 1.27%. | $27 a year if you are 18 or over with a balance of $5,000 or more | Growth, Balanced and Conservative funds independently certified by RIAA. Certified by Mindful Money as Animal Cruelty Free, Weapons Free and Climate Friendly | Online investor portal. No dedicated mobile app listed in the New Zealand App Store at the verification date | 75% | Pathfinder KiwiSaver funds | 10 August 2026 |
| QuayStreet KiwiSaver Scheme | Active, through an external investment managerSome funds invest through specialist sub-managers. | Fixed Interest, Income, Conservative, Balanced, Socially Responsible Investment, Growth, High Growth, New Zealand Equity, Australian Equity, International Equity, International Equity (NZD Hedged) and Altum | 0.74% to 1.38%The Altum Fund may charge a performance fee of 15% of returns above the OCR plus 6%, subject to a high water mark. None was charged in the year to 31 March 2026. Balanced, Growth and High Growth each include an estimated 0.01% performance fee through their Altum holding. | Up to $30 a year, charged in October and AprilPlus scheme expenses of about $5 a year. Members under 18 are not charged the administration fee. | Socially Responsible Investment Fund | Online account portal | 100% | QuayStreet KiwiSaver FAQsQuayStreet KiwiSaver Scheme PDS, 7 July 2026. | 30 August 2026 |
| SBS Wealth KiwiSaver Scheme | ActiveThe investment team manages the funds on a strategic basis, with ESG considerations. | Focused Growth, High Growth, Income and Cash, plus five age-based Lifestages options (Aggressive, Growth, Balanced, Moderate, Conservative) | 0.45% to 1.20%Lifestages options 0.92% to 1.20%. | NoneNo contribution, establishment, termination or withdrawal fees currently charged. | Responsible investment, including environmental, social and governance factors, applied across the range. No separately branded ethical fund | Mobile app and online account portal | 100%Issued by SBS Wealth Limited, a wholly owned subsidiary of Southland Building Society trading as SBS Bank. | SBS Wealth KiwiSaver SchemeSBS Wealth KiwiSaver Scheme PDS, 7 August 2026. | 30 August 2026 |
| Smart KiwiSaver Scheme | Index-tracking | Income, Conservative, Balanced, Growth and High Growth, plus the Default Fund, the Ethica ethical fund, NZ Cash and the age-based Age Steps option. Further guest manager and sector funds are listed on the provider’s site | 0.20% to 0.70%Default Fund 0.20%. Diversified funds 0.56% to 0.63%. Ethica 0.70%. | $30 a yearNot charged if all your money is in the Default Fund. | Ethica Fund | Mobile app and online account portal | 100% | Smart KiwiSaver funds and feesIssued as the SuperLife KiwiSaver scheme; PDS 19 March 2026. Rebranding to Smart KiwiSaver. | 30 August 2026 |
Scroll the table sideways to see every column.
How to read this table
The annual fund charge is a range because each scheme holds several funds, and a conservative fund almost always costs less to run than a growth fund. Compare like with like. A 0.35% default fund and a 1.34% high growth fund are not competing products - they hold different assets, carry different risk and are built for different timeframes. The only fair fee comparison is between two funds in the same category with a similar mix of growth assets.
Fees also are not the whole picture. A fund charging 0.30% more than another is behind by 0.30% a year before anything else happens, and over decades that compounds. But the fund that keeps you invested through a downturn, or that is actually invested at the right risk level for when you need the money, will usually matter more than a fraction of a percent. That trade-off is the conversation, and it is different for everyone. For what a downturn and a recovery actually do to a balance, rather than to a headline, see how a geopolitical shock moves your KiwiSaver and what a recovering S&P 500 means for your KiwiSaver.
Nothing in this table is a recommendation. It is a starting point for a conversation about your situation. Cam does not rank these ten against each other, because the ranking changes depending on who is asking.
Fees are one input, and not the one Cam leads on. The metric he actually follows is the return each fund delivered after its fees, over five and ten years, compared between funds in the same risk category. That is set out in how Cam compares KiwiSaver providers, alongside the quarterly Morningstar figures it relies on.
What makes each provider stand out
Cam evaluates providers on long-term performance after fees, responsible investment credentials, NZ ownership, technology, and customer satisfaction - not on who pays the highest referral fee. All ten schemes on his implementation panel are profiled below: seven that actively manage money and three that mainly track indices, which is why their fees sit so far apart.
Generate
One of the strongest all-round performers. Generate offers 6 diversified funds plus 3 specialist funds, and has delivered strong 10-year returns across multiple fund types. 100% NZ-owned and one of NZ's fastest-growing KiwiSaver providers.
Best for: Growth-focused investors wanting a strong long-term track record
Milford
A well-established active manager with a strong reputation in NZ investment. Milford's 6 diversified KiwiSaver funds have delivered consistently strong 10-year returns, driven by an in-house research team and active stock selection across NZ and global markets.
Best for: Investors wanting a proven active manager with a long track record
Booster
The widest range of any actively managed scheme on the panel - 14 funds in total, including a geared growth option for those wanting higher exposure to growth assets. 100% NZ-owned and has delivered excellent 10-year performance in its aggressive funds.
Best for: Investors wanting maximum fund choice and a geared growth option
Pathfinder
The strongest ethical credentials on the panel. Pathfinder screens out fossil fuels, weapons and other activities it judges harmful, and its Growth, Balanced and Conservative funds are independently certified by the Responsible Investment Association Australasia. Four fund options. Pathfinder has been awarded Mindful Money’s Best Ethical KiwiSaver Plan five years running.
Best for: Investors who want returns and values to align
Fisher Funds
Seven funds from Cash through to Aggressive, with active stock selection and published annual fund charges running from 0.37% on the Default fund to 1.23% on Aggressive. The Default fund fee is a maximum rather than a flat rate, and if your Default fund balance is $1,500 or less there is no charge on it at all - which makes it a low-friction place for a balance that is starting from nothing. That waiver applies to the Default fund only, not to the other six. See how this fits KiwiSaver for children.
Best for: Starting a small or brand-new balance without fees eating into it
Kernel Wealth
The lowest fee ceiling on the panel. Most of its 25 funds charge 0.25% a year, rising only to 0.45% on Emerging Markets and Global Clean Energy, and there is no fixed member fee at all. The equity funds track named indices such as the S&P/NZX 20 and the S&P Global 100, while the Cash Plus and NZ Bond funds are actively managed. Four ESG options, including an NZ 50 ESG Tilted fund and a Global Clean Energy fund.
Best for: Keeping costs down across a wide range of index exposures
Kōura Wealth
Predominantly passive, and builds you a personalised portfolio rather than putting you in one fund. Ten single-sector funds, from NZ Cash through to a Bitcoin fund, are combined using Kōura’s digital advice tool, or you can pick one of three ready-made strategies.
Best for: Wanting a portfolio shaped around you rather than an off-the-shelf fund
QuayStreet
Twelve actively managed funds run through an external investment manager, some investing via specialist sub-managers. The range includes a dedicated Socially Responsible Investment fund.
Best for: Active management with a dedicated socially responsible option
SBS Wealth
A wholly owned subsidiary of Southland Building Society. Four diversified funds with an investment approach that prioritises reducing downside risk. Responsible investment factors are applied across the range rather than through a separate ethical fund.
Best for: Steady returns from a 100% NZ owned provider
Smart KiwiSaver
Mostly index-tracking, with the widest range of any passively managed scheme on the panel - 40 funds in total, including 35 sector funds ranging from Emerging Markets to NZ Dividends.
Best for: Low-cost index investing covering multiple sectors
Looking beyond these ten? The KiwiSaver fund directory lists every open scheme and fund on the Disclose Register, and each scheme has its own page explaining the funds it offers, all listed on KiwiSaver providers and schemes. Cam compares providers across the wider market, so a recommendation may be to stay with your current scheme.
Which provider has the most satisfied customers
Every year Consumer NZ surveys 2,000 people about their KiwiSaver experience. These are the 2026 results:
Performance data is sourced from Morningstar KiwiSaver quarterly reports. Past performance does not guarantee future returns - Cam reviews the most current data in your free session.
Which providers Cam covers, and how he is paid
Cam is a registered financial adviser (FSP1010212). He can advise on and compare all 29 KiwiSaver providers, including the one you are in now, whoever that is. If you want to know how your current scheme stacks up, he will tell you, and if the answer is that you should stay where you are then that is the answer you will get.
Where he differs from a comparison website is the next step. Where a change of provider is right, Cam implements it through a selected implementation panel of ten KiwiSaver schemes and options: Booster, Fisher Funds, Generate, Kernel Wealth, Kōura Wealth, Milford, Pathfinder, QuayStreet, SBS Wealth and Smart KiwiSaver. The panel spans both active and passive management, and it is a deliberate choice rather than a limitation handed to him. You should weigh it for what it is: a considered filter applied by someone who has to live with the outcome, and also a shorter list than the whole market. All ten are compared side by side above, and the five schemes added to the implementation panel in August 2026 explains what each addition brought and how each is paid for.
Sessions are free and there is no obligation to act. If you implement a recommendation, how Cam is paid depends on the provider. Under most arrangements the provider remunerates Solid Steele directly and there is no additional Solid Steele adviser fee charged to your account. Kernel Wealth, Kōura Wealth and Smart KiwiSaver support advised-service arrangements under which Solid Steele charges an adviser fee in addition to the fund's underlying management fee: 0.25% p.a. with Kernel Wealth and Smart KiwiSaver, and 0.30% p.a. with Kōura Wealth. Because remuneration differs between providers, it is a conflict of interest that has to be managed and disclosed rather than pretended away - the full detail of who pays what is in Cam's disclosure statement, and you are entitled to ask him about it directly in your session.
Fees, fund names and product features change. The fees, fund ranges and ethical options in the comparison table were read off the provider's own current fee page or Product Disclosure Statement on the date shown in the final column. Not every Product Disclosure Statement covers apps and online portals, so the digital tools column reflects what Cam has confirmed each provider offers. Before you commit to any scheme, check the current Product Disclosure Statement and the latest quarterly Fund Update, both of which are published on the Disclose Register.
Trusted by Kiwis like you
"He helped me work out which KiwiSaver option best suited my goals. Cameron was accommodating, took the time to explain everything clearly, and never made me feel pressured. His positive outlook on life makes you feel excited about investing in your future. I'd highly recommend speaking with Cameron."
"Cameron is professional, approachable, and genuinely cares about helping his clients make the best decisions for their future. I felt confident and well-informed every step of the way. I would highly recommend Cameron to anyone looking for expert KiwiSaver advice."
"Cameron sat down with us and showed us the difference between Generate and our bank provider and we were sold. We feel very confident that we will have enough funds for retirement and look forward to our regular reviews."
KiwiSaver provider questions, answered
What is the best KiwiSaver provider in NZ?
There is no single best provider - the right one depends on your goals, fund type, timeline and situation. Cam compares fees, long-term performance and fund range across leading providers to find what genuinely suits you.
How do I compare KiwiSaver providers?
Compare fees (annual fund charges), long-term performance after fees, the range of fund types available, and how the provider handles things like first-home withdrawals. Cam does this comparison for you for free.
Is it difficult to switch KiwiSaver providers?
No. Switching takes about five minutes online, and your contributions and balance transfer automatically. There is no gap in coverage and you do not lose your employer contributions. Cam handles the paperwork with you. The steps are in our guide to changing your KiwiSaver provider.
Can I switch providers more than once?
Yes. You can switch providers at any time. Some providers charge a fee for switching out, but most do not. Cam checks this for your specific situation before making any recommendation.
Does switching providers affect my employer contributions?
No. Your employer contributions continue regardless of which provider you are with. The switch only affects where your balance and future contributions are invested - it does not disrupt anything with your employer.
Why doesn't Cam work with every provider?
Cam works with the providers he believes consistently offer the best combination of fees, long-term performance and fund range for his clients' situations. He does not recommend providers just because they offer a higher referral fee.
Do KiwiSaver providers invest ethically, and can Cameron help me find one that aligns with my values?
Yes - and it varies significantly between providers. Some have broad responsible investment policies, others offer dedicated ethical funds that actively screen out industries like fossil fuels, weapons, tobacco, gambling, or companies with poor labour practices. A few providers go further and focus specifically on positive impact investing. Because Cam works across a range of providers rather than being tied to one, he can compare the ethical credentials of different options alongside fees and performance, and help you find something that genuinely reflects your values rather than just using the label. It's a completely valid thing to factor into your decision.
Is Pathfinder KiwiSaver a good choice?
Yes, for the right investor. Pathfinder is the standout responsible investment option - it excludes fossil fuels, tobacco and human rights violators across all funds, while still delivering strong 5-year returns. If aligning your investments with your values matters to you, Pathfinder is worth serious consideration. Learn more about what responsible investment means for KiwiSaver.
Is Generate KiwiSaver good?
Generate is one of the strongest all-round performers Cam works with. It has delivered strong 10-year returns across multiple fund types, offers 9 funds (6 diversified plus 3 specialist), and is 100% NZ-owned. It suits growth-focused investors with a long time horizon.
Is Milford KiwiSaver good?
Milford has a strong long-term track record and is one of NZ's most respected active fund managers. Its KiwiSaver funds have consistently performed well over 10 years. It is a solid choice for investors who want active management and a proven performance history. See our detailed review of the Milford Active Growth fund to learn more.
Is Booster KiwiSaver good?
Booster offers 14 funds including a geared growth option, one of the widest ranges among the actively managed schemes Cam works with. It is 100% NZ-owned and has delivered excellent 10-year performance in its aggressive funds. Best for investors who want a wide active fund range or the higher growth potential of a geared fund.
Not sure your current provider is a good fit? Try the free KiwiSaver Health Check - 10 quick questions to see whether your fund, fees, and contributions may need a closer look.
How this page is kept accurate
Sources
- Inland Revenue list of registered KiwiSaver providers (opens in a new tab)
- Disclose Register: Product Disclosure Statements and quarterly Fund Updates (opens in a new tab)
Assumptions and method: how Solid Steele is paid, provider by provider.