ANZ was New Zealand’s largest KiwiSaver provider by funds under management as at September 2024. It runs the main ANZ KiwiSaver Scheme, with seven core funds whose maximum annual fund charges run from 0.25% to 0.98% and no flat member fee, and the older ANZ OneAnswer KiwiSaver Scheme with its specialist funds; a third scheme, the ANZ Default KiwiSaver Scheme, is closed to new members. The main scheme’s funds from Conservative to High Growth carry RIAA responsible-investment certification (the Cash Fund is not on the certified list), and your balance shows in ANZ’s goMoney app alongside your bank accounts. This is one of our KiwiSaver provider reviews.
ANZ KiwiSaver at a Glance
| Detail | ANZ KiwiSaver |
|---|---|
| Type | Bank-owned: issued and managed by ANZ New Zealand Investments Limited |
| Default provider status | No: not reappointed in the 2021 government review |
| Funds offered | 7 main funds plus OneAnswer range |
| Maximum annual fund charge | 0.25% to 0.98% depending on fund (actual charges lower; see the fund table) |
| Member fee | No flat member fee |
| FUM (approx) | ~$21.8B as at Sept 2024 (the largest provider by FUM at that date) |
| Supervisor | An independent supervisor, named in each scheme’s PDS |
| Regulated by | Financial Markets Authority (FMA) |
| Ethical/ESG option | No separate ethical fund in the main scheme; Conservative to High Growth are RIAA-certified; OneAnswer’s Select International Share Fund has extra ESG and climate measures |
ANZ’s Fund Range
ANZ’s main KiwiSaver scheme offers seven core funds, ranging from capital-preserving cash to high-growth focused (the all-growth end of the range is explained in our aggressive KiwiSaver fund guide).
| Fund | Growth/income mix | Maximum annual fund charge | Actual charges, year to 31 Mar 2026 | Minimum suggested timeframe |
|---|---|---|---|---|
| Cash | 0% / 100% | 0.25% | 0.22% | No minimum |
| Conservative | 18% / 82% | 0.63% | 0.60% | 4 years |
| Conservative Balanced | 33% / 67% | 0.75% | 0.72% | 5 years |
| Balanced | 48% / 52% | 0.89% | 0.86% | 5 years |
| Balanced Growth | 63% / 37% | 0.92% | 0.89% | 6 years |
| Growth | 78% / 22% | 0.98% | 0.95% | 7 years |
| High Growth | 95% / 5% | 0.98% | 0.95% | 9 years (opened 3 August 2023) |
Mixes, timeframes and maximum charges from ANZ’s compare-funds and fees pages; ANZ says the actual charge may vary each year because expenses vary. Actual charges are the total fund charges in each fund’s update for the quarter to 30 June 2026. Verify current figures at anz.co.nz/kiwisaver.
Lifetimes option: instead of choosing a fund, you can use ANZ’s Lifetimes option, which moves your savings through its funds based on your age (from Growth up to age 35 to Cash from 65); the High Growth Fund is not part of it.
A note on ethical investing: the main ANZ KiwiSaver Scheme has no separately branded ethical fund. Its Conservative to High Growth funds are certified by the Responsible Investment Association Australasia (RIAA) under its Responsible Investment Certification Program (see the dedicated section below).
ANZ also runs the older OneAnswer KiwiSaver Scheme, which has multi-asset funds plus single-asset-class funds such as Australasian shares, property and fixed interest funds, and the closed ANZ Default KiwiSaver Scheme.
ANZ KiwiSaver Fees
ANZ charges a percentage-of-balance fee only: each fund’s annual fund charge and no flat annual member fee (the fund updates show other charges of $0). ANZ publishes maximum charges (0.25% for Cash up to 0.98% for Growth and High Growth); the charges actually taken in the year to 31 March 2026 were a little lower, 0.22% to 0.95%.
Because there is no flat fee, what you pay is proportional to your balance. On a $50,000 balance in the Growth fund, the 0.95% actually charged in the year to 31 March 2026 is about $475 a year; on $100,000 it is about $950. At the 0.98% maximum it would be $490 and $980.
To set ANZ’s fund charges against other providers’ funds of the same type, see KiwiSaver fund fees compared. For how a percentage fee adds up over decades, see Is KiwiSaver worth it?.
ANZ’s Default Provider Status
ANZ was one of New Zealand’s default KiwiSaver providers until the 2021 review, when it was not reappointed, so people who start a job without choosing a scheme are no longer allocated to ANZ. From 1 December 2021 the ANZ Default KiwiSaver Scheme closed to new members: members who had chosen a fund stayed where they were, and those who hadn’t were transferred to a Balanced Fund with one of the new or re-appointed default providers. Who the current default providers are and how default allocation works is covered in KiwiSaver default providers.
ANZ KiwiSaver Performance
ANZ says its local investment team combines its expertise with BlackRock’s global investment capability, so after-fee returns depend on the managers’ decisions as well as on markets, and the fund charge comes off every year whatever the return. ANZ’s returns have varied with markets; current 5-year after-fee figures for each fund, set against other providers, are in KiwiSaver fund returns compared.
What to check: Look at the after-fee returns rather than gross returns. The Morningstar KiwiSaver survey publishes quarterly performance data for all providers, and the FMA KiwiSaver Annual Report provides industry-wide performance data. Always compare funds with the same risk profile (e.g., growth vs growth, not growth vs balanced).
Digital Tools and Online Experience
ANZ KiwiSaver is integrated with ANZ’s banking platforms.
Features:
- KiwiSaver account visible within ANZ’s internet banking (goMoney app and web), alongside your bank accounts
- Fund switching in ANZ Internet Banking, the goMoney app or by phone
- The Lifetimes option, which moves your savings between funds as you age
ANZ KiwiSaver Responsible Investment Approach
The main ANZ KiwiSaver Scheme has no separately branded ethical fund. Instead, its Conservative to High Growth funds are certified by the Responsible Investment Association Australasia (RIAA) under its Responsible Investment Certification Program. The Cash Fund is not on ANZ’s certified list.
Key points:
- ANZ says it applies the same responsible investment approach to all its ANZ-managed KiwiSaver schemes and investment funds
- It excludes companies involved in controversial weapons, nuclear weapons, tobacco, civilian firearms and whaling, and companies earning material revenue from unconventional oil and gas, thermal coal and adult entertainment
- It also looks at how well companies integrate ESG considerations, and engages and votes on ESG issues
- In the OneAnswer KiwiSaver Scheme, the Select International Share Fund has additional ESG and climate-specific measures
Other providers’ ethical funds and their screens are set out in ethical KiwiSaver providers compared.
Features and Limitations
Features:
- New Zealand’s largest KiwiSaver provider by funds under management as at September 2024
- Integrated with the ANZ banking app
- No flat annual member fee
- Broad fund range from Cash to High Growth; the Conservative to High Growth funds are RIAA-certified
- A Lifetimes option that moves your savings between funds by age
- OneAnswer offers specialist funds beyond the standard range
Limitations:
- Maximum fund charges rise to 0.98% a year on the Growth and High Growth funds (0.95% actually charged in the year to 31 March 2026)
- Lost default provider status in 2021
- Returns depend on the managers’ decisions as well as on markets
- The life-stage Lifetimes option leaves out the High Growth Fund
- No dedicated ethical fund in the main scheme
Switching from ANZ KiwiSaver
To move from ANZ you apply to the new provider, which arranges the transfer from ANZ; IRD says to check with your old provider whether it charges a transfer fee. The steps, timing and what carries over are in the KiwiSaver provider switching guide.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- The provider's latest fund update: gives the fund's current fees, returns and holdings.
Frequently Asked Questions
How does ANZ KiwiSaver compare with other providers?
ANZ was New Zealand’s largest KiwiSaver provider by funds under management as at September 2024, with seven core funds whose maximum annual fund charges run from 0.25% to 0.98% (actual charges in the year to 31 March 2026 were 0.22% to 0.95%) and no flat member fee. It lost default provider status in 2021. Fees and returns across providers are in KiwiSaver fund fees compared.
What happened to ANZ’s default members?
From 1 December 2021 the ANZ Default KiwiSaver Scheme stopped being a default scheme and closed to new members. ANZ says members who hadn’t chosen a fund were automatically transferred to a Balanced Fund with one of the new or re-appointed default providers. If you are unsure which scheme or fund you are in, check ANZ Internet Banking or contact ANZ.
Can I have both a standard ANZ bank account and a different KiwiSaver provider?
Yes. You can bank with ANZ while having KiwiSaver with any other provider. The two products are independent.
What are ANZ KiwiSaver’s fees?
ANZ’s maximum annual fund charges run from 0.25% (Cash) to 0.98% (Growth and High Growth), with no flat member fee. The charges actually taken in the year to 31 March 2026 were 0.22% to 0.95%. The same fund types at other providers are compared in KiwiSaver fund fees compared.
Does ANZ KiwiSaver have a dedicated ethical or responsible investment fund?
The main ANZ KiwiSaver Scheme has no separate ethical fund. Its Conservative to High Growth funds are RIAA-certified, and ANZ applies the same exclusions (including controversial weapons, tobacco, thermal coal and unconventional oil and gas) across all its KiwiSaver schemes. In the OneAnswer KiwiSaver Scheme, the Select International Share Fund has additional ESG and climate-specific measures.
Key Takeaways
- ANZ was NZ’s largest KiwiSaver provider by FUM as at September 2024
- Maximum annual fund charges of 0.25% to 0.98% across the seven core funds (0.22% to 0.95% actually charged in the year to 31 March 2026), with no flat member fee
- ANZ lost its default provider status in the 2021 government review
- KiwiSaver is integrated with ANZ banking (goMoney app and web)
- The main scheme has no separate ethical fund: its Conservative to High Growth funds carry RIAA certification, and OneAnswer’s Select International Share Fund has extra ESG measures
For a full comparison across NZ providers, see KiwiSaver providers compared (2026) and How to choose a KiwiSaver fund.