Changing KiwiSaver.

2min read
Posted 10 April 22

The good news is that it's really easy to switch your KiwiSaver and transfer over your existing savings. If you decide to make a change, speak to your new provider, and they'll handle the transfer. Fees may be applied from your old provider, so double-check with them before you change.

Once you've applied for a transfer, you'll need to wait two weeks for the process to take. You can find a complete list of providers on the IRD's website.

You can also suspend or even exit your account, although it does mean losing out on all those potential savings. However, if you want out, timing is critical — you can only exit KiwiSaver in the first two to eight weeks of starting a job, and your first KiwiSaver break only happens after the first twelve months.

It may seem strict, but this is enforced to ensure you stick to your savings plan. If your work situation does change, hop over to IRD's website for a personalised breakdown of your KiwiSaver options.

Why should I change my KiwiSaver provider?

KiwiSaver providers all offer different alternatives, depending on your goals. Some reasons to change are:

Lower fees are charged.

Service providers charge fees on your KiwiSaver because your KiwiSaver is an investment on your behalf. It's entirely up to you which provider you choose, but make sure to check what fees they offer versus the level of risk (i.e. how much the interest rate changes).

Average returns.

Check to see what the return rate for your provider is on average. Don't base your decision on high returns alone because that will change. Instead, have a look at their entire history.



It's always a good idea to go for someone you trust — meaning a provider who can communicate their advantages to you and send you statements detailing your expenses and earnings with KiwiSaver.


Stop! Disclaimer!

Info and tools on the Yonda website are to be used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.