If you're reading this, chances are you're thinking about your KiwiSaver fund and whether it’s time for a change. It’s a smart move to regularly reassess your investment strategy as life evolves, so we’ve put together some key reasons to consider changing your KiwiSaver provider.

1. You've Never Had a Review

Life gets busy, and it’s easy to set your KiwiSaver on autopilot. But if you’ve never taken a moment to review your fund, it might be time to do so. A regular review helps you ensure that your fund is still aligned with your goals and that you’re making the most of your investment.

Consider factors like your age, income, and retirement plans. If you’ve experienced major life changes - like a new job, a house purchase, or starting a family - your investment strategy may need to evolve too.

2. You Feel Your Current Provider Underperforms

Let’s face it: not all KiwiSaver providers are created equal. If you feel like your fund isn’t performing as well as it should be, it could be time to consider a new one. Take some time to compare the performance of your fund with others in the market. We recommend comparing 3, 5 and 10 year historic returns between providers and consider how long it takes to recover from market downturns. You deserve a fund that works as hard as you do.

3. You Have Ethical Concerns

More and more people are looking for investments that reflect their values. If you have ethical concerns about where your money is going, like investing in fossil fuels, tobacco, or arms manufacturing, you might want to switch to a fund that aligns with your beliefs.

There are a number of KiwiSaver providers that focus on ethical and socially responsible investing. Whether you’re passionate about environmental sustainability or supporting social justice, you can find a fund that resonates with your values.

4. You’re in a Default Fund

If you were automatically enrolled in KiwiSaver and haven’t made a choice since then, you might be in a default fund. Default funds tend to have conservative investment strategies, which can mean lower returns over time. If you’re currently in a default fund and looking to grow your savings more aggressively or if your risk tolerance has changed, it’s important to explore other options. 

Wrapping It Up

Switching your KiwiSaver fund doesn’t need to feel overwhelming. Whether your fund isn’t performing as well as you'd hoped, you have ethical concerns, or you’ve never taken the time for a review, there are plenty of good reasons to rethink your current fund.

Remember, your KiwiSaver is an important part of your financial future, so take the time to ensure it’s working for you. Don’t hesitate to seek advice from a financial advisor if you’re unsure about your options. Invest smart, stay informed, and watch your savings grow.