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ANZ KiwiSaver scheme review

Find out about ANZ's actively managed KiwiSaver funds and their fees.

ANZ offers a range of KiwiSaver funds, as well as a Lifetime Option, to meet a wide range of investor needs. If you’re weighing up KiwiSaver providers, then this review will help you decide if the ANZ KiwiSaver Scheme is right for you.

About ANZ

ANZ Investments is New Zealand’s biggest KiwiSaver provider, accounting for approximately a quarter of existing KiwiSaver memberships. With over $12 billion assets under management, ANZ has previously won multiple awards, including the Morningstar award for Fund Manager of the Year, KiwiSaver Category.

All ANZ KiwiSaver funds are actively-managed and practice responsible investing. This means that ANZ does not invest in companies associated with harmful activities like the production of weapons and tobacco.

ANZ KiwiSaver funds

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
ANZ KiwiSaver - Cash Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.
ANZ KiwiSaver - Conservative Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.
ANZ KiwiSaver - Conservative Balanced Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.
ANZ KiwiSaver - Balanced Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.
ANZ KiwiSaver - Balanced Growth Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.
ANZ KiwiSaver - Growth Fund
Performance is up to 31 December 2021. Rates are before tax and after total fund charges.

Compare up to 4 providers

These are the six ANZ KiwiSaver funds you may choose from, ordered from lowest to highest risk.
  • Cash Fund. Aiming to return long-term capital preservation, this fund solely invests in income assets like cash and fixed interest.
  • Conservative Fund. Similar to the Cash Fund, this fund largely consists of income assets. It also invests in a small basket of growth funds.
  • Conservative Balanced Fund. Best suited to those with a 5 to 9-year investment tenure, this fund contains a more balanced mix of growth and income assets.
  • Balanced Fund. Consisting of a 50/50 split between growth and income assets, this fund is great for those seeking long-term returns.
  • Balanced Growth Fund. A fund that invests largely in growth assets, with a small allocation to income assets. For higher volatility, this fund aims to return aggressive long-term growth.
  • Growth Fund. As ANZ’s riskiest KiwiSaver plan, this fund invests largely in growth assets.

Do note that regardless of which fund you choose, you’ll have access to ANZ’s goMoney app and internet banking services for up-to-date balance updates.

Lifetime Option

With ANZ’s Lifetime Option, you won’t have to select a KiwiSaver fund on your own. Instead, ANZ automatically invests in a KiwiSaver fund depending on your age. Your money will be shifted into lower-risk funds as you get older, to help you preserve your wealth over time.

Here’s the breakdown of which fund you can expect to be invested in depending on your age range.

  • Aged 0 – 35: Growth Fund
  • Aged 36 – 45: Balanced Growth Fund
  • Aged 46 – 55: Balanced Fund
  • Aged 56 – 60: Conservative Balanced Fund
  • Aged 61 – 64: Conservative Fund
  • Aged 65+: Cash Fund

ANZ KiwiSaver fund fees

The main fees associated with ANZ KiwiSaver accounts are as follows.

  • Annual fund charge.* Depending on your chosen KiwiSaver fund, you’ll be charged an annual fee ranging from 0.27% – 1.10% of your balance.

It’s free to move between ANZ funds at any time or switch to another provider.

* Check with ANZ about the precise fund fees you might have to pay before investing in their KiwiSaver plans. The exact amount you’re charged depends on your fund type and KiwiSaver balance.

What other products does ANZ offer?

Besides KiwiSaver funds, ANZ offers a huge range of other financial products. Here are some of their other financial services for you to consider.

  • OneAnswer investment funds. Looking for an alternative investment option? ANZ also offers a non-KiwiSaver investment scheme offering multi-asset-class funds and single-asset-class funds.
  • Bank accounts. From everyday savings accounts to term deposits, ANZ offers a wide variety of account options to give you interest on your savings.
  • Credit cards. ANZ offers an array of Visa credit cards including the Low Rate Visa, Cashback Visa, and Airpoints Visa card.
  • Loans. Whether you’re looking for a personal loan or mortgage loan, ANZ might have the right product for you.
  • Insurance. ANZ’s insurance products include home insurance, vehicle insurance, travel insurance, contents insurance, life insurance, and credit card repayment insurance.
  • Private banking solutions. ANZ offers a personalised wealth management service for clients looking to invest at least $1 million, or those who have an annual income of over $300,000.
  • International financing. Enjoy ANZ’s range of financial products catered to migrants, travel, and foreign exchange. This includes foreign currency accounts and easy international money transfers.

How do I join ANZ?

Application process

To join ANZ’s KiwiSaver Scheme, simply sign up online and go through the following steps:

  • On their KiwiSaver page, select the “Join now” option.
  • Fill in the online application form, providing details like your full name, address, and selected fund. Note that if you’ve been automatically enrolled in the ANZ default KiwiSaver scheme, your savings will be invested in the Conservative Fund.
  • Individuals who are not existing customers at ANZ might be asked to visit an ANZ bank branch to provide proof of address and form of identification.
  • Once your application is approved, ANZ will get in touch with you to help you set up your account.

Do note that individuals aged 17 and under will have to go through a special sign-up process, contact ANZ for more details.

Documents required

You may need to have the following documents on hand during your application.

  • IRD number (and your PIR)
  • NZ driver’s license or passport


ANZ offers six socially-responsible, actively-managed KiwiSaver funds. If you’re not sure which fund to choose, you can always opt for their Lifetime Option to reduce your investment risk automatically as you age. This makes ANZ a great choice for those looking for passive, long-term returns.

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