Simplicity is a not-for-profit KiwiSaver provider, launched in 2016, that runs six mostly passive index funds at one flat fee (0.23% a year from 1 October 2026, with no member fee) and directs 15% of its management fees to the Simplicity Foundation, which supports New Zealand charities. This review covers its funds, fees, Growth fund returns to 30 June 2026, ethical exclusions, features and limitations. Other schemes are covered in our KiwiSaver provider reviews.
Disclosure: MoneyBalance does not have a commercial relationship with Simplicity. This review is based on publicly available information. Check fees, fund details and performance figures directly with Simplicity.
For a comparison across all providers, see KiwiSaver Providers Compared (2026).
Simplicity at a Glance
| Detail | Simplicity |
|---|---|
| Type | Not-for-profit company |
| Founded | 2016 |
| Structure | Mostly passive index funds |
| Funds offered | 6 (High Growth, Growth, Balanced, Default, Conservative, Defensive) |
| Management fee | All funds charge the same 0.23% (from 1 October 2026; 0.24% before) |
| Member fee | None |
| FUM (approx) | 12+ Billion (2026) |
| Supervisor | Public Trust |
| Charitable giving | 15% of management fees to the Simplicity Foundation, which funds NZ charities |
| Scheme registration | Registered KiwiSaver scheme under the Financial Markets Conduct Act 2013 |
Simplicity’s KiwiSaver Funds
Simplicity offers a focused range of six KiwiSaver funds. Simplicity says it predominantly invests its funds passively, tracking market indices rather than relying on active stock picking.
Fund range
| Fund | Asset mix (Simplicity’s description) | Management fee | Typically used for |
|---|---|---|---|
| High Growth | Mostly growth assets | 0.23% | Long horizon, high tolerance for ups and downs |
| Growth | Mostly growth assets, limited income assets | 0.23% | Long horizon, 15+ years |
| Balanced | A mix of growth and income assets | 0.23% | Medium horizon, moderate risk tolerance |
| Default | A mix of growth and income assets | 0.23% | Members allocated to Simplicity as a default provider |
| Conservative | Mostly income assets, limited growth assets | 0.23% | Near retirement, under 5 years |
| Defensive | Mostly income assets, very limited growth assets | 0.23% | Very short horizon, capital preservation |
Fund list and fee from Simplicity’s KiwiSaver page, October 2026; the 0.23% fee applies from 1 October 2026. Verify current details at simplicity.kiwi.
Simplicity’s single-sector funds (such as NZ Share and Global Share) are Investment Funds outside KiwiSaver, with lower fees of their own (0.1% to 0.15% a year).
Simplicity’s Fees
Simplicity charges one fee across its KiwiSaver range:
- Management fee: A flat 0.23% per annum across every KiwiSaver fund, from 1 October 2026 (0.24% from 1 September 2025)
- Member fee: None. Simplicity does not charge a member fee
What that costs: about $115 a year on a $50,000 balance and $345 on $150,000. Because there is no fixed member fee, the cost is the same 0.23% at every balance.
For other providers’ fees side by side, see the KiwiSaver fund fees comparison.
Small balances: with no member fee, the fee on a $2,000 balance is under $5 a year. Providers that charge a fixed member fee take that amount regardless of balance, so check for one when comparing.
Simplicity’s Performance
As a mostly passive index provider, Simplicity’s returns reflect the markets its funds track, not a fund manager’s stock selection.
Simplicity Growth Fund, after-fee, after-tax returns (source: Simplicity Growth Fund update, 30 June 2026):
| Time period | Return (p.a., after fees and tax) |
|---|---|
| 1 year (to 30 Jun 2026) | 16.36% |
| 5 years (to 30 Jun 2026) | 7.23% |
Source: Simplicity’s fund update; compare funds on Sorted Smart Investor. Past performance does not guarantee future returns; check the current figure.
Over the same five years to 30 June 2026, the providers’ fund updates show Milford’s Active Growth fund at 6.60% and Generate’s Focused Growth fund at 8.03% a year after fees and tax. An index fund tracks its benchmark less fees, so it won’t beat that benchmark; an active fund can land above or below it in any period. For more growth funds over the same window, see KiwiSaver fund returns.
Ethical and Responsible Investing at Simplicity
Simplicity excludes a range of investments from their funds as standard:
Excluded sectors (as of 2026), where a company has “significant exposure” measured against revenue thresholds:
- Tobacco
- Alcohol
- Gambling
- Adult entertainment
- Fossil fuels
- Civilian arms
- Military weapons
- Nuclear power
Simplicity also doesn’t invest in companies that have breached the Principles of the United Nations Global Compact (covering human rights, anti-corruption, labour and the environment).
Simplicity says it exercises shareholder voting rights by proxy where it considers that in investors’ interests, and an annual report on its external manager’s voting is publicly available.
Charitable giving: 15% of Simplicity’s KiwiSaver and Investment Fund management fees go to the Simplicity Foundation, whose giving has grown to millions of dollars each year. The Foundation’s funding centres on three areas: forests, futures and food.
For other providers’ exclusion policies, see Pathfinder KiwiSaver Review and Ethical KiwiSaver Funds NZ.
What Simplicity Invests In
Simplicity’s Growth fund invests in a globally diversified mix of index funds:
- NZ and global shares via index portfolios: Simplicity manages the listed New Zealand assets itself and outsources global investment management to DWS
- NZ and global bonds for the defensive component
- Currency hedging applied to reduce NZD volatility on international holdings
The benchmark indices include the Morningstar New Zealand Index (NZ shares), a blend of Bloomberg developed-markets ex-NZ ESG screened indices (global shares) and the Bloomberg MSCI Global Aggregate Sustainability Select SRI index (global bonds). This means a Simplicity member has indirect exposure to hundreds of companies across NZ, Australia, the US, Europe, and Asia-Pacific.
Simplicity’s Digital Experience
Simplicity offers an online portal and mobile app that allows members to:
- Check their balance and transaction history
- Change their fund type
- Make voluntary contributions by bank transfer
- Update personal details and PIR rate
Customer support is available via email and phone; Simplicity does not have physical branches.
Features and Limitations
Features
- Fees: a flat 0.23% management fee across every KiwiSaver fund, with no member fee
- Mostly passive/index structure: predominantly tracks NZ and global indices
- Not-for-profit: owned by the Simplicity Foundation, a charitable trust; 15% of fees go to the Foundation for NZ charities
- Ethical screening: exclusions including tobacco, alcohol, gambling, fossil fuels, weapons and nuclear power
- Fund range: six funds
- Track record since 2016; Growth fund 5-year return of 7.23% a year after fees and tax to 30 June 2026
Limitations
- Little active management: an index fund will not beat its benchmark index
- No physical branches: online, email and phone service only
- Fund variety: six diversified KiwiSaver funds; single-sector funds are offered only outside KiwiSaver
- Switching: members choose and change their own fund online; the PDS describes no age-based option
- Ethical screening applies by revenue threshold, so a company is excluded only if it has significant exposure to an excluded activity
- Drawdown strategy: members can make partial or full withdrawals at 65 (the partial-withdrawal minimum is $100), but the PDS describes no scheduled drawdown service
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 Simplicity KiwiSaver safe?
Yes. Simplicity runs a registered KiwiSaver scheme under the Financial Markets Conduct Act 2013. Member assets are held under the oversight of an independent supervisor (Public Trust), separately from Simplicity’s own assets. Investment values can still fall with markets.
How does Simplicity make money if it’s not-for-profit?
Simplicity is a nonprofit company owned by the Simplicity Foundation, a charitable trust. It earns revenue through management fees and passes 15% of its fees to the Foundation, which donates to New Zealand charities.
How has Simplicity’s Growth fund performed?
Simplicity’s Growth fund returned 7.23% a year after fees and tax over the 5 years to 30 June 2026 (Simplicity fund update). As an index fund it aims to track its markets, not beat them.
Can I change funds within Simplicity?
Yes. Log in to the member app, select your fund, and choose Switch funds under Manage your fund. Completed switches are made at the next available unit price. There is no fee for switching funds.
Does Simplicity offer a KiwiSaver calculator?
Simplicity has a calculator on their website. For more detailed projections, see the KiwiSaver retirement calculator at MoneyBalance or sorted.org.nz.
What happens if I switch to Simplicity and then want to switch away?
You can switch away at any time and there is no lock-in period. IRD says the transfer takes about 2 weeks, and the provider you leave may charge a transfer fee.
Key Facts
- A flat 0.23% management fee on every KiwiSaver fund from 1 October 2026, with no member fee
- Six KiwiSaver funds, from Defensive to High Growth, run mostly as passive index investments
- Growth fund 5-year return of 7.23% a year after fees and tax to 30 June 2026 (Simplicity fund update)
- Nonprofit, directing 15% of management fees to the Simplicity Foundation for NZ charities
- Exclusions that include tobacco, fossil fuels, military weapons and civilian arms, among other sectors
For other providers, see KiwiSaver providers compared, and for how Simplicity’s index funds differ from Milford’s active approach, Simplicity vs Milford KiwiSaver.
This is general information only and does not constitute financial advice. Speak with a licensed financial adviser for personalised guidance: find one via the FMA’s adviser register or sorted.org.nz.