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

Fees and charges are automatically deducted from your Westpac KiwiSaver 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 administration fee of $1 per month ($12 a year), no matter what your balance is or what fund you are in
  • An annual fund charge. This is a percentage of your balance ranging from 0.29% to 0.80%, 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 estimated annual fund charge for each of the Westpac KiwiSaver Funds, and also the average annual return for each fund after the fees have been paid.

FUND Annual Fund Charge (estimated)1
CASH 0.29% - that’s 29c per $100 per year
DEFAULT 0.40% - that’s 40c per $100 per year
CONSERVATIVE 0.59% - that’s 59c per $100 per year
MODERATE 0.66% - that’s 66c per $100 per year
BALANCED 0.73% - that’s 73c per $100 per year
GROWTH 0.80% - that’s 80c per $100 per year

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

Sarah invests $10,000 in the Moderate Fund. The starting value of her investment is $10,000. She is charged annual fund charges, which work out to about $66 (0.66% of $10,000). These fees might be more or less if her account balance has increased or decreased over the year. Sarah also pays the annual administration fee of $12.

Estimated total fees for the first year – $88.

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 Moderate 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.

1 Annual fund charges include estimates of manager and Supervisor expenses and applicable underlying fund charges from 0.07% to 0.16%. Actual charges will depend on the expenses incurred by the Westpac KiwiSaver Scheme and performance of the underlying funds and investment managers and will vary from the estimates. Actual charges over the past 12 months are available in the latest fund updates. For more information on the basis of estimation of fees and expenses, see the Product Disclosure Statement.

BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is the 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.