KiwiSaver fund checker
What will your KiwiSaver be worth at 65? See what your fund type and fees could mean for your balance, in today's money, and how a different fund would compare.
Source FMA: KiwiSaver projection assumptionsChecked 16 October 2026Streetwise. Free, no sign-up.
A projection, not a promise. Real returns go up and down from year to year, and past returns do not tell you future ones. General information only, not financial advice.
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How the checker works
Every KiwiSaver annual statement now shows a projection of your balance at 65. The checker works it out the same way, using the assumptions set by the Financial Markets Authority (FMA), so you can see what changes when you move fund or pay lower fees.
Each year until you turn 65, it adds what you, your employer and the government put in, then grows the balance at the return for your fund type. It shows the answer in today's money, so $300,000 means what $300,000 buys now, not in 35 years.
The FMA's returns are after the average fee for each kind of fund. To show what your own fees do, we add back the KiwiSaver average fee of 0.70% a year and take off yours. If your fund charges less than average, your projection goes up. If it charges more, it goes down.
| Fund type | Growth assets | Assumed return a year |
|---|---|---|
| Defensive | Under 10% | 1.5% |
| Conservative | 10% to 35% | 2.5% |
| Balanced | 35% to 63% | 3.5% |
| Growth | 63% to 90% | 4.5% |
| Aggressive | 90% or more | 5.5% |
| Life-stages | Changes with age | 3.5% under 50, 2.5% from 50 |
Returns are after average fees and tax at 28%, before inflation. Other assumptions: inflation 2% a year, pay rises 3.5% a year and contributions rise with it, the government contribution you get now carries on each year, and after 65 your balance earns 2.5% a year and is drawn down over 25 years to age 90. Source: FMA.
Why fees matter more than they look
A fee of 0.70% sounds tiny. But it comes off your whole balance every year, for decades, and every dollar taken is a dollar that never grows.
Fees are only half the story. A fund with a higher fee can still be worth it if it reliably earns more, which is why Sorted's fund finder shows each fund's returns next to its fees. Compare funds of the same type, over five years or more.
Choosing a fund type
The fund type matters more than anything else you control. Over 35 years, the gap between conservative and growth is often bigger than everything your employer puts in. But growth funds swing more. In a bad year a growth fund can fall 10% or more, and you need time to ride that out.
- Ten years or more until you need the money: most people are better off in a growth or balanced fund. Short-term falls have time to recover.
- Buying your first home within a few years: a conservative fund protects the deposit you have built from a fall just before you buy.
- Close to 65 and spending it soon: moving some or all to conservative makes sense. If you will keep it invested well past 65, you may not need to.
- Will a fall make you switch out in a panic? Then pick a fund you can stay in. Switching after a fall locks the loss in.
Sorted's investor profiler asks a few questions and suggests a fund type for you.
How to change fund or provider
- Same provider, different fund: log in to your provider's website or app and choose a new fund. It is usually free and takes a few days.
- New provider: join the new provider online. They move your balance and tell Inland Revenue for you. You do not need to tell your old provider or your employer.
- Check it went through: your old provider closes your account, and your next contributions should show up at the new one within a few weeks.
You can only be with one KiwiSaver provider at a time, but many let you split your money between two funds.
Questions people ask
How much KiwiSaver will I have at 65?
It depends on your balance, pay, contribution rate, fund type and fees. A 30-year-old with $20,000 in a balanced fund on $65,000 a year and the default 3.5% is on track for about $294,000 in today's money, using the official FMA assumptions. Put your own numbers in the checker above.
What is a good KiwiSaver fee?
The average across all KiwiSaver funds was 0.7% of the balance a year in the year to March 2025, according to the FMA. Many passive or index funds charge well under that. Compare funds of the same type on Sorted's fund finder, and look at returns after fees too.
Is a growth fund better than a balanced fund?
Over long periods, growth funds have usually ended up with more money, which is why the FMA assumes 4.5% a year for growth and 3.5% for balanced. They also fall further in bad years. If you need the money within a few years, for a first home or retirement, a less risky fund can be the better choice.
Why is my result in today's money?
Prices rise over time, so $300,000 in 35 years will buy less than $300,000 today. The checker takes off 2% a year for inflation, the same as the projection on your KiwiSaver statement, so the number means something now.
Does this tool keep what I type?
No. Everything is worked out inside your own browser. Nothing you type is sent to Streetwise or anyone else, and it is gone when you close the page.
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Sources: FMA: KiwiSaver projections and assumptions, FMA: KiwiSaver Annual Report 2025 (PDF), Inland Revenue: KiwiSaver, Inland Revenue: ESCT rates, Sorted: KiwiSaver fund finder. Last reviewed 16 October 2026.