How much are you paying in KiwiSaver fees? You may be shocked
16 Apr, 2021 09:00 PM
8 minutes to read
Experts are urging people make sure they are getting value for money in KiwiSaver fees. Photo / Getty Images
Experts are urging people make sure they are getting value for money in KiwiSaver fees. Photo / Getty Images
KiwiSaver investors could pay as much as 31.6 per cent or as little as 4.9 per cent in fees depending on which provider they choose, according to the Commission for Financial Capability. Over time this could result in significant costs.
According to estimates by the commission, a person joining KiwiSaver with a balanced fund at age 20 and retiring at 65 could pay as much as $56,200 over that period if they were with the most expensive provider.