Booster is a New Zealand-owned and operated fund manager, and one of the six default KiwiSaver providers appointed in the 2021 government review. It runs two parallel fund ranges, at least nine conventional funds and five Socially Responsible funds, with annual fund charges from 0.35% (the Default Saver Fund) to 1.74% (Geared Growth) plus a $36 a year member fee (not charged on the Default Saver Fund, and only on balances over $500), and members manage their account through the MyBooster app and portal. This is one of our KiwiSaver provider reviews.
Booster at a Glance
| Feature | Detail |
|---|---|
| Provider type | NZ-owned and operated |
| Default provider | Yes (retained in the 2021 review) |
| Management style | Mix of passive and active investing; Booster describes a predominantly passive approach for some funds, including the Default Saver Fund |
| Funds available | 10+ (including Socially Responsible range) |
| Annual fund charge (estimated total) | 0.35% to 1.74% (fund dependent) |
| Member fee | $36/year (charged only on balances over $500; none on the Default Saver Fund) |
| Ethical/SRI option | Yes: dedicated Socially Responsible fund range |
| Digital platform | MyBooster app and online portal |
Booster’s Fund Range
Booster’s funds span conventional and socially responsible options:
Conventional funds
| Fund | Category | Annual fund charge |
|---|---|---|
| Enhanced Cash Fund | Cash/short-term fixed interest | 0.75% |
| Capital Guaranteed Fund | Conservative | 0.91% |
| Default Saver Fund | Balanced (~55% growth / 45% income) | 0.35% |
| Moderate Fund | Moderate | 1.11% |
| Balanced Fund | Balanced | 1.22% |
| Shielded Growth Fund | Growth (with downside protection) | 1.35% |
| Growth Fund | Growth | 1.24% (total fund charges, year to 31 March 2026, June 2026 fund update; Booster’s fees page lists an annual fund charge of 1.28%) |
| High Growth Fund | High growth | 1.34% |
| Geared Growth Fund | Geared/leveraged high growth | 1.74% |
Socially Responsible funds
| Fund | Category | Annual fund charge |
|---|---|---|
| Socially Responsible Moderate Fund | Moderate | 1.10% |
| Socially Responsible Balanced Fund | Balanced | 1.22% |
| Socially Responsible Growth Fund | Growth | 1.23% |
| Socially Responsible High Growth Fund | High growth | 1.24% |
| Socially Responsible Geared Growth Fund | Geared/leveraged high growth | 1.64% |
Fees per Booster’s own published fund fee schedule at booster.co.nz. An earlier version of this table understated them. Confirm current fees directly with Booster.
Default Saver Fund
Booster’s default option for new members who don’t make an active fund selection is the Default Saver Fund (0.35% fee, ~55% growth/45% income), which also carries no member fee. It is not a lifecycle fund: it does not automatically shift its asset allocation as you age.
Booster’s Fees
Booster’s annual fund charges differ widely by fund: 0.35% for the Default Saver Fund, 0.75% to 0.91% for Enhanced Cash and Capital Guaranteed, and 1.11% to 1.74% for Moderate through Geared Growth, with the Socially Responsible range at 1.10% to 1.64%. To set these against other providers’ funds of the same type, see KiwiSaver fund fees compared.
Member fee impact
Booster charges $36/year ($3/month) in member fees on top of the percentage-based annual fund charge (none on the Default Saver Fund), charged only on balances over $500. For members with smaller balances (under $10,000), the flat fee has a proportionally larger impact. At a $5,000 balance, $36 equates to an additional 0.72% effectively.
Fee impact over time
The compounding effect of Booster’s growth-fund fees against a 0.23% fee (a low-cost index fund fee level) on a $50,000 balance over 20 years (7% gross annual return, no further contributions, fee charged on the opening balance each year; recomputed October 2026):
| Fee rate | Projected balance | Total fees paid |
|---|---|---|
| 0.23% | ~$185,000 | ~$4,600 |
| 1.23% (Booster SR Growth) | ~$154,000 | ~$22,100 |
| 1.24% (Booster Growth) | ~$153,000 | ~$22,200 |
Illustrative only, ignoring the $36/year flat fee for simplicity. Actual returns depend on fund performance, which may differ significantly from the assumed rate.
Socially Responsible Investing
Booster’s SRI range is its set of ethical funds. The SRI funds screen investments using:
- Negative screening: the Socially Responsible funds restrict investing in select activities in specific industries, such as fossil fuels, military weapons or whaling, subject to revenue thresholds
- ESG integration: the Responsible Investment Association Australasia (RIAA) lists Booster’s certified Socially Responsible fund’s primary responsible investment strategies as negative screening and ESG integration
- Restrictions on all funds: every Booster fund restricts investing in companies that produce, supply or stockpile certain controversial or nuclear weapons, or manufacture military-style semi-automatic weapons or tobacco
Fees against the conventional range: each Socially Responsible fund’s fee in the tables above is the same as or up to 0.10 of a percentage point below the equivalent conventional Booster fund’s: Moderate 1.10% vs 1.11%, Balanced 1.22% vs 1.22%, Growth 1.23% vs 1.24%, High Growth 1.24% vs 1.34%, and Geared Growth 1.64% vs 1.74%.
For a full comparison of ethical KiwiSaver options across all providers, see our ethical KiwiSaver providers comparison.
MyBooster: Digital Platform
Booster’s MyBooster app and online portal key features:
- Balance tracking: Current balance, contributions, and returns
- Fund switching: Change your fund online in minutes
- Contribution management: Adjust voluntary contributions directly
- Retirement projections: Simple projection tool showing estimated balance at 65 under different scenarios
Default Provider Status
Booster was one of six providers appointed to the default panel in the 2021 government review, and people allocated to Booster by default go into its Default Saver Fund (0.35%, no member fee) rather than its higher-fee funds. Who else is on the panel, how its members were chosen and how new employees get allocated are set out in KiwiSaver default funds and providers.
Performance
Booster publishes each fund’s historical returns in its fund information sheets and quarterly fund updates, and Sorted Smart Investor shows them too.
Current 5-year after-fee returns for Booster’s funds, set against other providers’ funds of the same type, are in KiwiSaver fund returns compared; KiwiSaver fund performance explains how to read them. Past returns are not a guide to future returns.
Features and Limitations
Features:
- Socially responsible fund range with published screening criteria
- One of the government-appointed default providers; Default Saver Fund at 0.35% with no member fee
- MyBooster app and online portal
- 10+ funds, including geared and shielded growth options
Limitations:
- Annual fund charges of 1.11% to 1.74% on Moderate through Geared Growth funds
- A mix of passive and active investing rather than a fully passive approach
- $36/year member fee (not on the Default Saver Fund), proportionally larger on small balances (about 0.72% at $5,000)
Booster and Other Providers
Fees, fund types and default status for Booster and the other KiwiSaver providers are set out side by side in KiwiSaver providers compared, and their ethical options in ethical KiwiSaver providers compared.
Switching To or From Booster
Switching to or from Booster is handled by the new provider, which arranges the transfer of your savings from the old scheme (IRD says this takes about 2 weeks). If you move to Booster you choose a Booster fund from either range; the steps and timing are in the switching KiwiSaver providers 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
Is Booster a good KiwiSaver provider? MoneyBalance doesn’t rate providers; whether Booster fits depends on the fund you’d use and what you pay for it. The facts: Booster is NZ-owned, was retained as a default provider in the 2021 review, offers at least nine conventional and five Socially Responsible funds, and has annual fund charges from 0.35% (Default Saver) to 1.74% (Geared Growth) plus a $36 a year member fee (not charged on the Default Saver Fund, and waived under $500). Each fund’s after-fee returns are on Sorted Smart Investor.
What are Booster’s main features? Booster’s main features are its dedicated Socially Responsible range and the MyBooster app. Its Default Saver Fund charges 0.35%, while its Moderate through Geared Growth funds charge 1.11% to 1.74%. Default allocation places members in the Default Saver Fund, not Booster’s higher-fee funds.
What is Booster’s default fund? Booster uses its Default Saver Fund (a balanced-category fund) as the default for new members who don’t make an active selection. It does not automatically shift its asset allocation as you age.
Does Booster have an ethical KiwiSaver option? Yes. Booster’s Socially Responsible fund range restricts investing in select activities such as fossil fuels, military weapons and whaling (subject to revenue thresholds), and RIAA lists its primary strategies as negative screening and ESG integration.
How do Booster’s fees compare? Booster’s funds range from 0.35% (Default Saver) and 0.75% to 0.91% (Enhanced Cash/Capital Guaranteed) up to 1.11% to 1.74% for Moderate through Geared Growth (plus a $36/year flat fee on funds other than the Default Saver Fund, waived under $500). The Socially Responsible funds charge 1.10% to 1.64%. See KiwiSaver fund fees compared for other providers’ fees.
Can I switch from Booster to another provider? Yes, at any time, though your old provider may charge a transfer fee. KiwiSaver members can change provider at any time, but can belong to only one at a time. Your new provider arranges the transfer of your savings, which IRD says takes about 2 weeks. See our switching providers guide for how the process works.
What to Read Next
- KiwiSaver Providers Compared: full provider comparison hub
- KiwiSaver Fees Comparison: fee table across providers
- Simplicity KiwiSaver Review: an index-fund provider
- Milford KiwiSaver Review: another active manager
- Switching KiwiSaver Providers: how to move to or from Booster
- Ethical KiwiSaver Providers Compared: ESG options across providers
- KiwiSaver Fund Types Explained: how fund types differ