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How do KiwiSaver providers differ?

  • Writer: Cameron Steele
    Cameron Steele
  • May 11
  • 2 min read

Updated: Sep 19

Choosing the right KiwiSaver provider can feel a bit like picking the right car - they all promise to get you where you want to go, but the features, speed, and cost can vary wildly. With your retirement savings on the line, it’s worth understanding the key differences between providers. There are over 30 Kiwisaver providers available and some are performing significantly better than others.


Below, is a comparison of Cam's three preferred KiwiSaver providers; Generate, Milford, Pathfinder - to help you make a more informed decision. These have been thoroughly research by Cam and consistently stand out as the top three available.


Overview at a Glance:

Provider
Established
Fund Options
Investment Style
Returns
Responsible Investing
App Experience
Key Strength

ree

2012

6 diversified + 3 specialist

Active

Excellent (10 yrs)

High

Excellent

Strong long-term growth


ree

2007

6 diversified

Active

Excellent (10 yrs)

High

Excellent

Experienced team & strong history


ree

2019

3 diversified

Active

Excellent (5 yrs)

Exceptional

Excellent

Ethical investing leader










🧠 Investment Style.

  • Generate, Milford, and Pathfinder are active fund managers - they aim to outperform the market by carefully selecting investments and adjusting based on market conditions.


🌱 Responsible Investment

If ethical investing matters to you, all three providers perform well, but Pathfinder stands out. It has built its reputation on environmental and social responsibility, offering exceptionally high responsible investment credentials. That means no fossil fuels, tobacco, or companies involved in human rights violations.


📈 Performance & Returns

Performance is a key factor, especially over time.

  • Generate and Milford boast strong 10-year returns, proving they can perform across market cycles.

  • Pathfinder, while newer, have delivered excellent 5-year returns, suggesting a strong trajectory.

Tip: Past performance isn’t a guarantee, but it’s a useful guide to fund management quality.


💼 Fund Variety

Your investment needs may change over time - from early career to nearing retirement.

  • Generate offer a mix of diversified life-stage funds and specialist funds for those with a higher risk appetite.

  • Milford offers 6 diversified funds, making it easy to tailor to your current stage.

  • Pathfinder keeps it simple with three diversified options, which suits those who prefer fewer choices.


📱 User Experience

All three providers have excellent mobile apps that let you check your balance, switch funds, and track performance on the go. Ease of use is a big win for keeping your future top of mind.


🏁 Which One Might Be Right for You?

Here’s a quick breakdown based on priorities:

  • Want strong long-term performance? Try Milford or Generate.

  • Care deeply about ethical investing? Pathfinder is your best bet.

  • Looking for a balance of growth and responsible investing? Generate is a great all-rounder.


Final Thoughts

KiwiSaver isn’t one-size-fits-all, and that’s a good thing. Whether you’re just starting out or planning your retirement, understanding how providers differ can help you make choices that align with your values, risk appetite, and financial goals.



Need help choosing and switching to a KiwiSaver Provider

that best suits your needs & goals?



 
 
 

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