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AMP KiwiSaver review

Learn about the range of funds offered by New Zealand's largest non-bank KiwiSaver provider.

With its high-performing funds, responsible investments, a handy app and low fees, AMP’s KiwiSaver plans have caught the attention of plenty of smart savers.

Learn more about the KiwiSaver plans, features and fees offered by AMP in this review.

About AMP

AMP is a KiwiSaver scheme provider that offers a variety of investment plans and retirement products for its customers. Its popularity is evident in the fact that it stands as the largest non-bank KiwiSaver provider in New Zealand. One potential reason as to why it stands out is the convenience AMP products offer. They can be managed easily on AMP’s mobile portal or app, giving you control of your finances from anywhere, at any time.

AMP KiwiSaver fund types

AMP KiwiSaver Scheme offers 30 different investment options, which can be broadly categorized into 4 types of funds.

  • Diversified Funds. Under their range of diversified funds, AMP works with various providers including Nikko AM and ASB to offer plans with different investment risk levels. These include growth, conservative, moderate, balanced, and aggressive fund classes. Once you’ve picked an investment risk level, you can further choose from an assortment of funds depending on your preference of investment returns and asset types.
  • Responsible Funds. For those who wish to invest responsibly in a diversified fund, AMP offers an Ethical Balanced Fund that could meet your sustainability aims.
  • Goals-based Funds. Instead of being benchmarked against an index, Goals-based Funds are intended to deliver specific investment outcomes. This is a great option for investors with more specific financial goals.
  • Single Sector Funds. AMP’s Single Sector Funds focus on specific asset classes that you can combine together to build your own diversified portfolio.

AMP also offers a LifeSteps investment option, where your investment fund is curated based on your age and gradually reduces the risk of your investments as you age.

Name Product Past Performance - 6 Months Past Performance - 1 Year Past Performance - 2 Years Past Performance - 3 Years Past Performance - 5 Years Calculated fees on $50,000 balance
AMP Lifesteps - Conservative Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.
AMP Lifesteps - Moderate Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.
AMP Lifesteps - Moderate Balanced Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.
AMP Lifesteps - Balanced Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.
AMP Lifesteps - Growth Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.
AMP Lifesteps - Aggressive Fund
Performance is up to 30 June 2022. Rates are before tax and after total fund charges.

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Note: Calculated fees on $50,000 balance are based on the estimated total annual fund charge of 0.78% (applicable to AMP Lifesteps funds) plus the annual member fee of $23.40. Check with AMP to get an accurate representation of the fees associated with your KiwiSaver fund.

AMP KiwiSaver fund fees

AMP’s KiwiSaver funds come with fees that are directly deducted from your investment gains. Here’s what you can expect to be charged for.

  • Management fees. These fees are for AMP’s investment management services including those of the underlying fund manager and administration costs of the fund. Annual management fees range from 0.35% to 1.46%, depending on how risky your chosen fund is. Riskier funds generally incur greater annual management fees.
  • Member fees. Current AMP KiwiSaver member fees stand at $1.95 per month. This compulsory fee is used to pay your general account administration services and is deducted monthly from your current holdings.
  • Miscellaneous costs and expenses. Such fees could range from 0.04% to 0.25% per annum, due to the legal, audit and regulatory compliance costs that your chosen fund may incur.

Do take note that AMP KiwiSaver fund fees may differ across funds, investment risk levels and investment amounts. Always check with AMP beforehand to get an accurate understanding of how much you may end up paying on your AMP KiwiSaver fund.

What other products does AMP offer?

Interested in financial products other than KiwiSaver funds? AMP offers the following options to consider:

  • AMP Investment Trust. This investment plan gives you access to a variety of managed funds as well as the ability to directly invest in shares and bond products.
  • Investments with Wealthview. AMP offers individualised portfolio management and advisory services, which come with accessible online client portals and access to all the funds offered by their investment management service.
  • NRZT & My Super. NRZT is a flexible retirement savings scheme that offers employees protection from disabilities and illnesses that could lead to unemployment.

How do I join AMP?

Registering with AMP for a KiwiSaver fund is quick and easy. You may either speak to an AMP financial advisor or directly apply online within a few minutes.

Eligibility criteria

Be sure to check that you meet AMP’s eligibility requirements before signing up. In general, you should be:

  • A New Zealand citizen, or entitled to live in New Zealand indefinitely
  • Living in New Zealand
  • Below the age of 65 (the current age of eligibility for NZ Superannuation)

Enrolment in KiwiSaver is automatic for anyone starting a new job (with some exceptions), although employees automatically enrolled often have the chance to opt-out. Other interested individuals can choose to opt for KiwiSaver but cannot subsequently opt-out.

Documents required

You will need to provide your IRD number and either your New Zeland passport or driver’s licence.


AMP offers 30 KiwiSaver funds to help you grow your wealth and meet your retirement goals. AMP KiwiSaver plans come with clear pricing, quick registration and easy in-app management. Additionally, you can choose from a huge range of investment products and find the best one that suits your financial needs.

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