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Fees tool counts KiwiSaver costs

3 May

Posted by Tom Hartmann in Kiwisaver, Investment, Retirement | 0 comments

Not all KiwiSaver funds are created equal, so choosing the right one for you takes some thought and research. Sure, friends, family and colleagues can be great sources of advice, but it’s important you make your own choices – after all, you’ll be the one to cash it in when you reach 65.

One of the main considerations when you’re weighing up KiwiSaver funds is to look at the fees providers charge, which can vary. There’s no way to avoid them – the fees cover the costs of running the scheme – but you can use Sorted’s KiwiSaver fees calculator to know what you’re signing up for.

Take the time to compare the fee structure of different investment funds when you’re thinking about joining KiwiSaver or re-evaluating your current scheme. It’s important to know how much these are, since they can eat into your earnings. And when your investment is long term like retirement savings, fees certainly add up over time.

KiwiSaver fees pay for the costs of investing and managing your account. Usually the more ‘active’ a fund is (with fund managers more ‘hands on’ as they manage your money) the higher the fees. More ‘passive’ funds tend to cost less. Also, higher-risk funds – along with their promise of higher returns – typically come with higher fees.

The KiwiSaver fees calculator has been updated with the most recent fee information from providers. We’ll be checking it every six months to keep it current – it’s a useful tool that might just make your KiwiSaver decision a little easier.

Of course, fees are just one important factor to consider when you are deciding on a KiwiSaver scheme. There are the potential returns to gauge, the level of risk, the services the provider offers and other fund features to keep in mind. For more on these, see Sorted’s KiwiSaver investment funds checklist.