At ANZ we’re constantly looking for ways to help you get the most out of KiwiSaver - and here’s one more. From 30 September 2021 we’re removing the annual membership fee from each of our ANZ-managed KiwiSaver schemes, which means more money in your account working hard for you.
Plus, from 30 September we’re also reducing management fees for our Conservative Funds (excluding the Default Fund), and Conservative Balanced Funds, by 0.22% and 0.15% respectively. We're also making these management fee changes across the same fund types for our ANZ Investment Funds.
The changes are part of our ongoing commitment to ensuring fees provide great value for money. For example, in 2019 we reduced the annual membership fee from $24 to $18 and removed it for members under 18. The following year we removed it for members over 65. And now, we’re removing it altogether. In fact, since 2009 we’ve reduced the annual fund charge for the ANZ KiwiSaver Scheme by around 25% - and unlike some providers, we’ve never charged performance fees on our ANZ-managed KiwiSaver schemes.
Removing membership fees provides an even simpler, easier to understand fee structure. It’s also good news for members with lower balances or those just starting out, making it easier for them to grow their balances faster.
While we’re reducing fees, however, we’re not reducing our service or our commitment to our active management approach. Our approach has delivered consistently strong returns over the long run for our investors.
These latest fee reductions are just one more way we're helping you grow your savings, so you can look forward to the future with confidence.