The right scheme will depend on how close you are to retirement and how much risk you want to take.

A The default KiwiSaver providers are AMP Services (NZ), ASB Group Investments, ING (NZ), Mercer Human Resource Consulting, National Mutual Corporate Superannuation Services (trading as AXA New Zealand), and Tower Employee Benefits.

B There are five types of KiwiSaver investment: cash, conservative, balanced, growth, and aggressive.

C The investment statement says what type of investment you're buying, who provides it, what fees you'll be charged, what the expected returns are, and other information such as who to complain to if things go wrong. See the Securities Commission website for more about investment statements

How does KiwiSaver work?

Choosing a KiwiSaver scheme

You can choose from a wide range of KiwiSaver providers and schemes. If you join KiwiSaver but don't choose a scheme, you'll either be enrolled in the scheme your employer has chosen or in a default KiwiSaver schemeA .

You can apply to change schemes at any time, but you can't belong to more than one scheme at once.

Before you choose, you'll need to consider:

  • How much risk you're prepared to take - some schemes will play it safe to protect your capital, while others will take a few more risks with the aim of achieving long-term growth. The type of investmentB you choose will depend on several factors including how close you are to retirement. Take our risk quiz to find out what type of investor you are.
  • The fees - fees on savings schemes can vary widely. High fees can eat into your savings, and over a period of 10 or 20 years a small difference in the percentage of fees charged can make a large difference in your total savings.
  • The features - some schemes provide, features such as first home buyer assistance & the ability to invest lump sums. Choose a scheme that has the features that you want.

Comparing schemes

You can use our online tool to compare schemes. You can also view a full list of providers.

Before you choose a provider and scheme, you should read the investment statementC , and seek help from a trusted financial adviser.

Important

Like you, we can't predict the future - which means we can't guarantee the performance of any savings scheme. Nor do we endorse any specific KiwiSaver provider or scheme. ConsumerSaver is a good starting point - but, before you commit, we strongly suggest you seek independent financial advice. See our full disclaimer.