Why fees & charges are important & how they get paid.

Fees and charges are automatically deducted from your Westpac KiwiSaver Scheme Account. Fees and charges are shown on your annual statement. Previous years' statements are available on Westpac One® online banking.

How much will you be charged?

As a Westpac KiwiSaver Scheme Member, you'll pay:

  • An annual fund charge. This is a percentage of your balance ranging from 0.25% to 0.55%, depending on which fund you're in.

Annual 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 tend to have higher returns over time.

The table below shows the annual fund charge for each of the Westpac KiwiSaver Scheme Funds.

FUND Annual fund charge
CASH 0.25% - that’s 25c per $100 per year
DEFENSIVE CONSERVATIVE  0.40% - that’s 40c per $100 per year
CONSERVATIVE 0.40% - that’s 40c per $100 per year
MODERATE 0.40% - that’s 40c per $100 per year
DEFAULT BALANCED 0.40% - that’s 40c per $100 per year
BALANCED 0.50% - that’s 50c per $100 per year
GROWTH 0.55% - that’s 55c per $100 per year

Example of how fees apply to a Westpac KiwiSaver Scheme Member.

Sarah invests $10,000 in the Balanced Fund. The starting value of her investment is $10,000. She is charged annual fund charges, which work out to about $50 (0.50% of $10,000). These fees might be more or less if her account balance has increased or decreased over the year. 

Estimated total fees for the first year – $50.

See the latest fund updates for an example of the actual returns and fees investors were charged over the past year. This example applies only to the Balanced Fund. If you are considering investing in other funds in Westpac KiwiSaver, this example may not be representative of the actual fees you may be charged.

Things you should know.

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.

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.