Deloitte Finds KiwiSaver Fees Competitive

KiwiSaver fees are "highly competitive" with those charged by larger Australian and British counterparts, according to Deloitte Consulting Australia, commissioned by Generate KiwiSaver. The analysis revealed that default KiwiSaver fund fees are generally lower than similar fees in Australia and Britain. Despite smaller funds under management in New Zealand, the fees remain competitive.

The study compared average KiwiSaver account balances of NZ$30,000 and NZ$50,000 across the three countries. Australian managers often charge dollar-based fees, unlike most New Zealand providers. Fees for choice funds vary, but when considering management style and asset allocation, New Zealand and Australian fees are roughly equivalent. Deloitte emphasized that fees significantly impact retirement outcomes and remain a global focus. Generate KiwiSaver declined to comment on the findings.

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