KiwiSaver growth fund is 1.13 per cent. It’s 1.44 per cent on ANZ’s nonKiwiSaver growth fund.
Wouldn’t it be better for that person to get more reasonably-priced fund management through KiwiSaver?
I’ve been debating my KiwiSaver ‘‘tweak’’ with KiwiSaver managers and experts.
One felt it might make KiwiSaver overly complicated. Another thought it a great idea. Another said once people’s savings hit a certain level, they often withdrew some to spend on rewards (holidays, new TVs, cars, etc) for having done so well.
Still another said KiwiSaver providers could be providing nonKiwiSaver funds at the same price as their KiwiSaver funds. They just don’t want to because if they did, they’d have to drop the fees on all the money already in the higher-fee funds they currently offer.
I’m reliably told one KiwiSaver provider is planning on disrupting that little party.
Hands off! Money you stick into KiwiSaver can’t be got at until age 65, except in pretty extreme circumstances.