Knowing how your KiwiSaver is performing, and whether that performance is actually good compared with other funds, takes more than a quick look at your balance. To make a fair comparison, you need to look at returns after fees, within the same fund category, and over the same time period.
How to Read KiwiSaver Performance Data
Before you compare any fund’s returns, keep these three things in mind.
- Compare like for like. Growth funds should be measured against other growth funds, and balanced funds against other balanced funds. A growth fund returning 4.5% isn’t necessarily beating a conservative fund returning 2.5%. They carry very different levels of risk, so a higher return alone doesn’t mean a fund is “better”.
- Use after-fee returns. Gross returns are calculated before management fees come out, so they overstate what you actually earn. The FMA requires every provider to publish after-fee returns, and that’s the figure you should always compare.
- Look at a longer time period. A single year’s return tells you very little, since markets can swing sharply in either direction. Five-year and ten-year returns give a much more reliable picture of how a fund performs over a full market cycle.
Approximate Average Returns by Fund Type
| Fund type | Assumed rate of return (after fees and tax) |
|---|---|
| Aggressive | 5.5% |
| Growth | 4.5% |
| Balanced | 3.5% |
| Conservative | 2.5% |
| Defensive | 1.5% |
This table shows the assumed rate of return based on the type of fund that you have in your KiwiSaver account.
Check fma.govt.nz for current projection assumptions.
Average KiwiSaver Balance by Age
If you want to know whether your balance is on track, compare against published industry averages:
| Age group | Approximate average balance (2025) |
|---|---|
| 17 and under | $3,512 |
| 18–25 | $10,567 |
| 26–30 | $21,308 |
| 31–35 | $26,231 |
| 36–40 | $33,070 |
| 41–45 | $43,187 |
| 46–50 | $55,010 |
| 51–55 | $65,873 |
| 56–60 | $72,861 |
| 61–65 | $77,927 |
| 66–70 | $72,503 |
| 71–75 | $72,114 |
| 76–80 | $73,530 |
| 81–85 | $85,553 |
| 86 and over | $194,276 |
Source: MJW KiwiSaver Demographic Study, December 2025. Approximate figures — medians are significantly lower than averages. See the full guide for detail.
Guides in This Section
- Best Performing KiwiSaver Funds NZ 2026
- Worst Performing KiwiSaver Funds NZ
- KiwiSaver Fund Performance Comparison
- KiwiSaver Returns 2025
- KiwiSaver 5-Year Returns NZ — Full Comparison
- KiwiSaver Returns by Provider NZ
- KiwiSaver Annual Returns History 2008–2025
- KiwiSaver Historical Returns — Key Events
- Average KiwiSaver Balance by Age NZ — 2026 Benchmarks