How we choose the funds we recommend

We analyse over 300 KiwiSaver funds, and every one is assessed the same way. Each fund is compared only with others in the same risk category (Defensive, Conservative, Balanced, Growth or Aggressive), and it needs at least five years of returns before we’ll recommend it.

We then run four checks:

  • Performance After-fee returns compared with the fund’s peer group over five to ten years. Comparing a conservative fund with a growth fund tells you nothing useful.

  • Fees against value. Cheapest isn’t automatically best, and expensive isn’t automatically bad. We ask what the fee buys, real active management, ethical screening, proper service, and whether members actually get it.

  • Consistency. How bumpy the ride has been: how much returns moved around, how far the fund fell when markets dropped, and how long it took to recover.

  • Quality. Numbers alone aren’t enough. We also check whether the fund sticks to its stated strategy, how big it is, and how stable its management has been.

We use independent market data alongside the information providers publish themselves. The list is reviewed quarterly, and a fund can be added or removed at any review.

For the detail, see how we analyse KiwiSaver schemes.

Commissions and independence

BetterSaver may receive a commission from some KiwiSaver providers if you join or switch into their scheme through our platform. This does not increase your fees.

Commissions do not influence our analysis or our recommendations. In practice, there are more funds from providers we could be paid for that do not make the recommended list than there are funds on it. The list is driven by our criteria, not by commercial arrangements.

Where we do recommend a provider, we aim to have a commercial agreement in place so we can keep improving the service. Smoother switching, better support, better tools.

If a provider does not support switching through our platform, you may need to finish your signup or switch on the provider’s own website. We will tell you before you get that far.

Frequently asked questions.

The questions that come up most often. Can’t see yours? Talk to us.

What is the best KiwiSaver scheme in New Zealand?

There is no single answer that works for everyone. The right scheme depends on your timeframe, your comfort with market ups and downs, and how you want your money invested. A fund that suits somebody retiring in three years is the wrong fund for somebody retiring in thirty. BetterSaver assesses every scheme in the market on performance, fees, consistency, downside risk and fund quality, then recommends the one that fits your situation.

Which KiwiSaver scheme performs best?

It depends on the timeframe and the risk type, and short term figures can be misleading. A growth fund will usually out-return a conservative fund over ten years, and usually fall further when markets drop. We look at returns over five and ten years against each fund’s peer group, so you are comparing like with like. Past performance is not a reliable indicator of future performance.

How does BetterSaver decide which schemes to recommend?

Five checks on every fund: performance against its peer group, fees relative to value, consistency of returns over time, behaviour in falling markets, and a set of quality indicators. We use independent market data and information published by providers, and we review the list quarterly.

If a scheme is not on the recommended list, is it a bad scheme?

No. It means it did not meet our criteria at the last review, that it does not yet have the five years of comparable data we require, or that it is a single-sector fund we would not recommend as someone’s main KiwiSaver. It is not advice to leave that scheme, and funds move between the lists over time.

Is BetterSaver independent?

Yes. BetterSaver is a licensed Financial Advice Provider (FSP 600609). We do not manage any KiwiSaver schemes ourselves. We may be paid a commission by some providers, but that does not affect which funds make the list. More funds from providers we could be paid for miss the list than make it.

How often is this list updated?

We review it quarterly, and sooner if new performance data or fee disclosures change the picture. The last review date is shown at the top of this page.

Can I switch KiwiSaver scheme through BetterSaver?

In most cases, yes. Once you have your recommendation you can complete the switch through BetterSaver and we handle the transfer with your new provider. Some providers do not support switching through our platform, and we will tell you if yours is one of them. See how to switch your KiwiSaver provider.

Important information

BetterSaver is a licensed Financial Advice Provider (FSP 600609). Our advice is based on the information you give us and the information available about each scheme at the time.

All investing involves risk. KiwiSaver balances go up and down. Past performance is not a reliable indicator of future performance.

The lists on this page reflect our assessment at the last review date shown above. They are general information, not personalised advice about any particular scheme. For advice about your own situation, get a recommendation.

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