Should your KiwiSaver fund be with your bank?

KiwiSaver is a crucial part of our financial future, and where you choose to invest your money makes a huge difference in how it grows. If you’re one of the many Kiwis who still have your KiwiSaver fund with your bank, it might be time to rethink things. Here’s why:

1. KiwiSaver Is the Bank’s Side Gig

Banks are great at providing everyday banking services, but KiwiSaver? Not so much. KiwiSaver is just one of many things on their plate. On the other hand, providers who specialise in KiwiSaver and investing focus solely on growing your retirement savings. It’s their bread and butter.

2. Experts Who Know KiwiSaver Inside and Out

Choosing a provider that specialises in KiwiSaver, means getting access to a team who are focused on one thing: growing your retirement savings. They know KiwiSaver inside and out, and are there to offer tailored advice and support every step of the way. Whether you're making contributions, planning for withdrawals, or facing more complex scenarios, you can count on them for clear, personalised guidance. They’re the KiwiSaver experts.

3. Outsourcing vs In-House Expertise

Many banks don’t actually manage your KiwiSaver investments themselves. Instead, they outsource it to overseas investment companies. These firms often have a much broader focus, and KiwiSaver is just a small part of their portfolio. As a result, they don’t have the same level of accountability or dedication to growing your retirement fund.

In contrast, top-performing KiwiSaver providers who manage their investments in-house are fully committed to your money. Their teams are focused solely on KiwiSaver, meaning they’re more invested in delivering strong returns and offering tailored support for your retirement journey.

4. Lower Performance = Less Growth

If your KiwiSaver is still with the bank, chances are you’re not getting the best bang for your buck. Bank-run funds often don’t perform as well as those managed by specialist providers. That means your money could be growing slower than it should be, potentially leaving you with less in retirement.

5. You Can Keep Your KiwiSaver Separate from Your Bank

A common misconception is that your KiwiSaver has to be with you bank. Not true! You’re free to choose any KiwiSaver provider that works best for you, regardless of which bank you use for your other finances. There’s no advantage in keeping everything under one roof, so don’t be afraid to shop around for a better KiwiSaver option.

6. Convenience at Your Fingertips

We get it – convenience is key. But here’s the good news: you don’t have to sacrifice ease of access for better performance. The top-performing KiwiSaver providers offer user-friendly apps and websites, so managing your fund is just as easy as checking your balance at the bank. You can stay on top of your savings and make changes whenever you need to, all from your phone.

Time to Make a Move?

If you’re still with the bank, now might be the perfect time to review your KiwiSaver fund and see if there’s a better option out there. Your retirement fund is too important to just leave to chance, so why not make sure it’s working as hard as you do?

Take a look at some of the top-performing KiwiSaver providers and see how they compare. A bit of research now could mean a much bigger nest egg when it’s time to retire – and a much smoother ride to get there.

If you’re not sure where to start, we’re here to help you find the best KiwiSaver options for your future. Let’s make sure your money’s working as hard as you are!