Changing KiwiSaver funds or schemes

You can change where your KiwiSaver money is invested at any time.

You can change funds within your current KiwiSaver scheme, e.g. from a low to a higher risk fund. Ask your scheme provider how to do this, and if any conditions apply. Most providers will also let you invest in more than one of their funds.  

You can also change your KiwiSaver scheme at any time by contacting the scheme provider you want to move to. The new provider will arrange to move your money from your current provider.

Whatever your reason for change, use this checklist to help you make an informed decision:
 

KiwiSaver fund checklist
 

Returns
 

Past performance can be a guide to what long-term average returns are likely to be for funds at different risk levels – e.g. for a low-risk fund vs a high-risk fund.

But the past performance of an individual fund is not a reliable guide to its future performance. What did well in the past may do badly in the future, and vice versa.

Different funds may also present their information in a different way, e.g. one fund gives you before-tax returns while another gives you after-tax returns.
 

Fees and charges
 

The amount of fees you pay can make a big difference to the growth of your savings.

• Over the term of your investment, how do the fees on your fund compare with fees on similar funds in other KiwiSaver schemes? Check our KiwiSaver fees calculator.
   

Risk level
 

• Is the fund your money is in now at the right risk level for you?
• Check our Risk recommender. Your scheme’s investment statement may also have a questionnaire to help you assess your risk profile.
   

Communication
 

• How often do you receive reports about your savings balance (e.g. annually or six-monthly)?
   
• If you need to, can you work out the value of your savings through your provider’s website?
   
• Does your provider offer helpful advice and information, directly or through their website?
   
• Do you understand the information you’re receiving? If not, consider moving to a provider that can explain things in a way that suits you. To find out how well another provider communicates, check their website, and request a brochure and a sample of the regular statement they send to investors.
   

Fund features
 

• If it’s important to you, are ethical/socially responsible investment options available through your provider? Or does the provider take an ethical approach in their investment choices?
   
• Can you make additional lump sum or regular contributions to your fund and if so, is there a minimum amount?
   
• Does your provider offer other features that might interest you, such as a fund in which risk is adjusted with age, or a fund that invests widely around the world?
   

Fund managers
 

Some providers use separate companies to manage their investment funds.

• Do you know of the organisation(s) named as managers and/or investment managers and have confidence in them?
   
• Ask your provider to give you information about the fund managers and see if you’re comfortable with their description. 
   

For more help finding the right KiwiSaver scheme for you, get advice from a qualified financial adviser.