What happened to Juno KiwiSaver: Juno KiwiSaver no longer exists under that name. Pie Funds Management Limited rebranded the scheme to the Pie KiwiSaver Scheme in December 2023, and on 1 May 2025 it dropped Juno’s old flat monthly-fee structure in favour of standard percentage-based fees. If you’re researching “Juno KiwiSaver,” this page explains what changed and where things stand now.
Source: Investment News NZ, “Pie scraps Juno brand” (18 December 2023, checked 14 October 2026): the scheme “has been rechristened as Pie KiwiSaver”, and “Pie remains the underlying manager for the scheme formerly known as Juno”. Pie Funds’ current KiwiSaver page is at piefunds.co.nz/kiwisaver.
What Happened to Juno
| Date | Event |
|---|---|
| 2018 | Pie Funds launches the JUNO KiwiSaver Scheme, with a flat monthly fee (a set dollar amount depending on balance, nothing charged under $5,000 or for under-18s) |
| December 2023 | The scheme is rebranded as the Pie KiwiSaver Scheme: same manager, new name |
| 1 May 2025 | Pie Funds drops the flat monthly-fee model and reverts to standard percentage-based fees across its funds |
If you were a Juno member, your account moved to Pie KiwiSaver when the scheme was renamed, but your fee structure has since changed from the old flat monthly model to a percentage fee.
Pie KiwiSaver at a Glance
| Feature | Detail |
|---|---|
| Manager | Pie Funds Management Limited (New Zealand owned and operated) |
| Former brand | JUNO KiwiSaver Scheme (until December 2023) |
| Default provider | No |
| Investment approach | Active management |
| Fund range | Conservative, Balanced, Growth, and a newer Aggressive fund |
| Fee range (PDS dated 1 April 2026) | Total estimated annual fund charges of 0.78% (Conservative) to 1.25% (Aggressive); management fees 0.75% to 1.15% |
| Switching between Pie funds | Free |
Fees are indicative — verify current figures in Pie Funds’ current Product Disclosure Statement, as fee structures have changed at least twice since 2018.
Fund Range and Fees
Pie KiwiSaver offers actively managed funds across the risk spectrum:
| Fund | Management fee | Total estimated annual fund charges |
|---|---|---|
| Conservative | 0.75% | 0.78% |
| Balanced | 0.85% | 0.89% |
| Growth | 0.95% | 1.01% |
| Aggressive (newer addition) | 1.15% | 1.25% |
From Pie KiwiSaver’s PDS dated 1 April 2026 (total charges add underlying fund costs to the management fee). Check the current PDS before deciding.
There are no joining fees or exit fees, and switching between Pie’s own funds is free.
How this compares to the old Juno pricing: Juno’s original flat monthly fee (a set dollar amount depending on balance, nothing charged under $5,000 or for under-18s) was unusual in the NZ market and could be cheaper than a percentage fee for members with very large balances, or more expensive relative to balance for members with small-to-moderate balances. Since the move to percentage-based fees in 2025, Pie KiwiSaver’s fees can be compared directly with other providers’ in the KiwiSaver fee comparison.
Features and Limitations
Features:
- Former Juno members were moved across automatically with no action needed
- New Zealand owned and operated active manager
- No joining or exit fees; switching between Pie funds is free
Limitations:
- The old flat monthly Juno fee no longer exists
- Fees above passive providers such as Simplicity and Kernel
- Shorter KiwiSaver history (since 2018) than Milford and Generate
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
What happened to Juno KiwiSaver?
Juno KiwiSaver Scheme was rebranded to the Pie KiwiSaver Scheme in December 2023. It’s managed by the same company, Pie Funds Management Limited; only the brand name changed.
What are Pie KiwiSaver fees now?
Pie Funds dropped Juno’s flat monthly-fee model on 1 May 2025, moving to percentage-based fees: management fees of 0.75% (Conservative) up to 1.15% (Aggressive), or total estimated annual fund charges of 0.78% to 1.25% (PDS dated 1 April 2026). Check Pie Funds’ current PDS for exact current figures.
Is Pie KiwiSaver regulated?
Yes. Pie KiwiSaver Scheme is a registered KiwiSaver scheme supervised and regulated by the FMA, the same as it was under the Juno brand.
Can I still join Pie KiwiSaver?
Yes. Apply through Pie Funds’ website; the new provider arranges the transfer from your current provider, which IRD says takes about 2 weeks (your old provider may charge a transfer fee). See switching KiwiSaver providers.
What to Read Next
- Compare KiwiSaver Providers: fees, returns and features side by side
- KiwiSaver Fee Comparison: provider fees by fund type
- Switching KiwiSaver Providers: how to move
- KiwiSaver Provider Reviews: every provider, alphabetically