KiwiSaver providers charge fees for running the scheme, admin costs and, in some cases, for performance.
The fees a provider charges are some combination of covering their costs and making a profit, because investment management is a business.
Fees reduce your KiwiSaver balance
KiwiSaver fees are more important than you think, because they could be costing you thousands over your lifetime.
Over many years, fees can really add up. And if you’ve got a small balance or aren’t earning much, they can eat into the small amount you have saved.
Fees have two impacts. The first is, money comes out of your account and reduces your balance. The second impact is that if your balance is reduced, there is less money to earn returns on.
Are your fees reasonable?
It’s important to work out how much you’re paying in fees.
You might be happy with the fees you’re being charged, if you’re getting good value. You might like how your account’s performing, and be happy with other features, like its customer support.
Or your provider might not be performing well, when you compare it to its market index and other similar funds. You might feel as if you’re not getting much in return for your high fees.
How do I find my fees?
Most providers show fees in a percentage, so it can be hard to work out. And there’s usually more than one type of fee (some providers have up to six).
But there is an easy way to check. Just look back on your annual statement, and you’ll find the dollar amount.
If you can’t find your statement, just call your provider’s 0800 number, and ask what you paid in fees. And why you paid that much – what did you get out of it?
You can also use Sorted’s Smart Investor tool to find your KiwiSaver provider’s fees.
What are JUNO’s fees?
JUNO’s the only provider to charge a single, all-included fixed fee. This means you’ll pay a fixed dollar amount every month, based on how much money is in your account.
There are no confusing percentages, so it’s easy to keep track of how much you’re paying (and, just exactly how much you will pay as your balance increases). There’s only one fee, paid every month.
JUNO has some of the lowest fees of all the providers. And there are no fees for under 18s or those with balances under $5,000. We want to help you keep more money in your pocket – that’s our commitment to Kiwis.
View JUNO’s fees and how they work.
And if you have any questions about our fees or anything else about JUNO, contact our customer service team.
Why join JUNO?
Published 25 November 2019
Pie Funds Management Limited is the issuer of the JUNO KiwiSaver Scheme. You can read our Product Disclosure Statement here. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with an independent financial adviser. All content is correct at time of publication date.