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KiwiSaver fees.
Our low fees¹ mean you keep more of the money you invest for your future. Learn about our Westpac KiwiSaver Scheme fees and how they compare to other KiwiSaver providers.
One fund fee.
When you choose to invest in the Westpac KiwiSaver Scheme, you’ll pay a fund fee2 (also known as an annual fund charge) for each fund you’re invested in. This is a percentage of your total KiwiSaver balance, ranging from 0.25% if you’re invested in the Cash Fund to 0.70% if you’re invested in the High Growth Fund. We don’t charge monthly membership fees or performance fees on top, like some other KiwiSaver providers do.
Low fees make a difference.
Fees are really important because the more you pay, the less money you'll have for your future. That’s why we keep our KiwiSaver fees low¹.
You can see in the graph how our KiwiSaver fees compare with the industry average across different fund types. For example, our Balanced Fund has an annual fee of 0.50% (50c per $100), compared to the industry average of 0.91% (91c per $100). On a $10,000 investment, that’s a difference of about $50 a year with us, versus $91 on average.
While the difference may seem small, over time lower KiwiSaver fees can make a big difference to how much you end up with.
This graph compares current fees for selected Westpac KiwiSaver Scheme funds with the KiwiSaver industry average for the relevant diversified fund type. It uses data published by Sorted Smart Investor as at 29 May 2026. We’ve shown five funds for simplicity, but all Westpac KiwiSaver Scheme funds have fees below the industry average. The comparison shows fees paid over one year based on a KiwiSaver balance of $10,000. Your actual fees might be more or less, depending on your balance. Fees can change overtime.
What our fund fee covers.
Professional investment management
Our investment experts choose where to invest your money, such as in shares, bonds and property. Your fee helps pay for this expertise and ongoing management, with the goal of delivering strong long-term returns.
Administration costs
We manage the day-to-day administration, like keeping your account up to date, processing transactions and making sure you have access to your balance and statements online.
Keeping your money secure
We help keep your money secure by making sure your investments are valued regularly and having an independent supervisor to oversee the running of the Scheme.
Westpac KiwiSaver Scheme fund fees.
Our fund fees are higher for funds with more growth assets like shares, as the underlying costs to manage these assets are more expensive. However, these funds are expected to have higher returns over time.
| Fund | Annual fund charge |
| High Growth Fund | 0.70% - that’s 70c per $100 per year |
| Growth | 0.55% - that’s 55c per $100 per year |
| Balanced | 0.50% - that’s 50c per $100 per year |
| Default Balanced | 0.40% - that’s 40c per $100 per year |
| Moderate | 0.40% - that’s 40c per $100 per year |
| Conservative | 0.40% - that’s 40c per $100 per year |
| Defensive Conservative | 0.40% - that’s 40c per $100 per year |
| Cash | 0.25% - that’s 25c per $100 per year |
Example of how fund fees apply to a Westpac KiwiSaver Scheme member.
Nicola has $10,000 invested in the Balanced Fund. If her balance stays the same the whole year, she’ll pay an annual fund fee of about $50 (0.50% of $10,000). These fees will be more or less if her account balance had increased or decreased over the year.
See the latest Westpac KiwiSaver Scheme fund updates for an example of the actual returns and fees investors were charged over the past year.
How the fund fee is charged.
Our fund fee is automatically deducted from the funds you invest in over the course of each year. This means your KiwiSaver balance reflects the value of your account with the fund fee already paid. You can see how much you paid on previous annual member statements in Westpac One® digital banking.
KiwiSaver fees quick help.
Things you should know.
1 This statement is based on a category-by-category comparison of Westpac KiwiSaver Scheme fees as at 29 May 2026 to the industry average of KiwiSaver fees published by Sorted Smart Investor as at the same date. Fees can also change over time.
2In addition to the fund fee, a buy/sell spread may apply when investing in or withdrawing from a fund, including switching funds. This spread is intended to cover the transaction costs associated with buying or selling the fund’s underlying assets and is not a fee paid to us. We do not currently charge a buy/sell spread. Learn more about buy and sell spreads.
BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is a distributor, of the Westpac KiwiSaver Scheme (Scheme).
The information above is subject to changes to government policy and law, and changes to the Scheme from time to time, including changes to fees and other charges.
Investments made in the Scheme do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac Group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac Group of companies, The New Zealand Guardian Trust Company Limited (as supervisor), or any director or nominee of any of those entities, or any other person guarantees the Scheme's performance, returns or repayment of capital.
For a copy of the Product Disclosure Statement or more information about the Scheme, contact any Westpac branch or call 0508 972 254 or from overseas +64 9 375 9978 (international toll charges apply). You can also download the Product Disclosure Statement.