SuperLife, managed by Smartshares Limited (Smart), a wholly owned subsidiary of NZX Limited, runs a KiwiSaver scheme of 40+ investment options: named risk-based funds, an age-based “Age Steps” option that shifts to safer assets as you get older, and single-sector funds members can combine themselves. This review covers that range, the $30 administration fee and when it isn’t charged, and SuperLife’s returns to 30 June 2026. It is one of our KiwiSaver provider reviews.
SuperLife at a Glance
| Feature | Details |
|---|---|
| Provider type | Managed by Smartshares Limited (Smart), a wholly owned subsidiary of NZX Limited |
| Investment approach | Predominantly passive (index tracking) |
| Number of funds | 40+ funds (named diversified funds and Age Steps, with single-sector funds you can combine through “MyMix”) |
| Total fund charges | 0.20% (Default Fund) to 0.63% (High Growth Fund) for the main diversified funds (year to 31 March 2026) |
| Annual administration fee | $30/year ($2.50/month), not charged if all your money is in the SuperLife Default Fund |
| Default fund | SuperLife Default Fund: Balanced type (est. Dec 2021), 0.20% total fund charges |
| Ethical options | The Ethica Fund, an ethical fund with SRI exclusions and ESG screening (0.70% fund charges) |
| Online management | Yes: full online portal and app |
Who Is SuperLife?
SuperLife is managed by Smartshares Limited (Smart), a wholly owned subsidiary of NZX Limited (the New Zealand stock exchange operator). Smart operates a range of NZ ETFs, but the top holdings listed in SuperLife’s June 2026 fund updates for its Default, Growth and High Growth funds are ETFs from other issuers, individual shares and (in the Default Fund) NZ government bonds, so the funds are not simply built from Smart’s ETFs.
Branding note: Smartshares began rebranding its consumer-facing products to a single “Smart” brand from October 2024, and has said the SuperLife KiwiSaver Scheme will eventually become the “Smart KiwiSaver Scheme” as part of that staged rollout. As of this review, the scheme itself is still branded and legally named the SuperLife KiwiSaver Scheme: check superlife.co.nz for the current status before assuming the rename has taken effect.
SuperLife Fund Range
SuperLife’s core KiwiSaver range is a standard risk-based line-up (Income, Conservative, Balanced, Growth, and High Growth) plus the SuperLife Default Fund and an age-based “Age Steps” glide-path option.
| Fund | Type | Annual fee (approx., checked September 2026) |
|---|---|---|
| SuperLife Default Fund | Balanced (target mix 55% shares and listed property, 45% cash and fixed interest) | 0.20% |
| SuperLife Income | ~0% growth | ~0.56% |
| SuperLife Conservative | Low growth | ~0.57% |
| SuperLife Balanced | Balanced | ~0.60% |
| SuperLife Growth | Growth | ~0.61% |
| SuperLife High Growth | High growth | ~0.63% |
Age-stepped funds
SuperLife’s “Age Steps” funds automatically shift your allocation toward more conservative assets as you get older (a lifecycle approach), and their fund charges run from about 0.56% to 0.63% depending on your age band.
Single-sector funds
Members can build a custom portfolio from single-sector funds:
- NZ Shares (NZX 50)
- Australian Shares
- US Shares (S&P 500)
- International Shares
- Property
- Bonds
SuperLife offers 40+ options in all; Simplicity, for comparison, offers six KiwiSaver funds.
SuperLife Fees
SuperLife’s fee structure (checked September 2026):
- Annual administration fee: $30/year ($2.50/month), not charged if you hold all your money in the SuperLife Default Fund
- Total fund charges: 0.20% (Default Fund) to 0.63% (High Growth Fund) for the main diversified funds
- No performance fees listed for the main diversified funds (the Castle Point 5 Oceans Fund option includes estimated performance-based fees of its underlying funds)
- No switch fees
What it costs in the Growth fund: on a $50,000 balance, about $305 in management fee (0.61%) plus the $30 administration fee, $335 a year. On $10,000 it is about $91 ($61 + $30), so the flat fee is a larger share of a small balance. If all your money is in the Default Fund, the $30 isn’t charged and total fund charges are 0.20%: about $100 a year on $50,000.
For fees across providers, including Simplicity and Kernel, see the KiwiSaver fund fees comparison.
SuperLife Performance
SuperLife describes a long-term, index-tracking approach, so the returns of its index-tracking funds follow their underlying markets, less fees, rather than aiming to beat them.
Return (SuperLife Growth Fund update, 5 years to 30 June 2026):
- SuperLife Growth Fund: 6.74% p.a. after fees and tax at the top PIR rate. Other providers’ growth funds over the same window are in KiwiSaver fund returns.
- The SuperLife Default Fund (Balanced type, established December 2021) returned 11.73% over the 12 months to 30 June 2026 after fees and tax (7.14% for the 12 months to 31 March 2026); it is too new for a published 5-year figure.
Current numbers are on Sorted Smart Investor.
Past returns do not guarantee future performance.
Ethical and Sustainable Options
SuperLife’s KiwiSaver scheme includes the Ethica Fund (fund charges 0.70%, SuperLife returns and fees page, 30 September 2026). SuperLife says it excludes companies where a material part of their revenue or activities are in gambling, tobacco, alcohol, military weapons (including cluster munitions, anti-personnel mines, nuclear explosive devices and personal firearms), adult entertainment, factory farming, palm oil or coal mining, and increases or decreases exposure to companies based on ESG factors. Its wider set of “Ethical and Principle-Based Funds” applies a minimum set of exclusions: companies deriving a material part of revenue from coal exploration or extraction, or associated with tobacco, nuclear warheads or missiles, or civilian firearms and ammunition. For how other providers’ exclusion lists are worded, see ethical KiwiSaver providers compared.
Features and Limitations
Features:
- Passive, index-tracking diversified funds at 0.20% to 0.63%
- An ethical option, the Ethica Fund
- Members can customise their allocation across sectors
- 40+ investment options, including single-sector funds and Age Steps
- Full online portal and app
Limitations:
- No active management
- No branch or face-to-face bank support
- $30/year administration fee (not charged if fully invested in the Default Fund), proportionally larger on small balances
SuperLife, Simplicity and Kernel
All three run passive index KiwiSaver funds. Their fees, member fees and fund ranges side by side are in the KiwiSaver fund fees comparison.
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.