Your money, your future — choose wisely.
The right KiwiSaver fund can make a big difference to your long-term savings. We’ll help you understand your options so you can feel confident in your choice.
Your Fund Affects How Your Money Grows
KiwiSaver funds aren’t one-size-fits-all. The type of fund you choose determines how your money is invested — and how much your balance might go up (or down) over time.
Know Your Options
There are five main KiwiSaver fund types. They differ in how much of your money is invested in “growth assets” (like shares) versus “income assets” (like bonds and cash).
Defensive Fund
Growth Assets: ~0-10%
Best For: Very short-term goals (under 1–2 years) or very low risk tolerance.
Upside: Very stable value, unlikely to fall much.
Downside: Lowest potential returns, may not keep up with inflation.
Conservative Fund
Growth Assets: ~10-35%
Best For: Shorter-term goals or a low tolerance for ups and downs.
Upside: Lower risk of loss in market downturns.
Downside: Lower potential returns over the long term.
Balanced Fund
Growth Assets: ~35-63%
Best For: Medium-term goals (3-7 years) and a moderate comfort with risk.
Upside: A balance between growth and stability.
Downside: Some ups and downs along the way.
Growth Fund
Growth Assets: ~63-90%
Best For: Long-term goals (7+ years) and a higher tolerance for market swings.
Upside: Higher potential for returns over the long term.
Downside: Larger ups and downs in value are expected.
Aggressive Fund
Growth Assets: ~90-100%
Best For: Very long-term goals and a strong comfort with risk.
Upside: Highest potential for long-term growth.
Downside: Significant ups and downs — not for the faint-hearted.
| Fund Type | Growth Assets | Risk Level | Suggested Timeframe |
|---|---|---|---|
| Defensive | 0-10% | Very Low | 0-2 years |
| Conservative | 10-35% | Low | 1-3 years |
| Balanced | 35-63% | Medium | 3-7 years |
| Growth | 63-90% | High | 7+ years |
| Aggressive | 90-100% | Very High | 10+ years |
Match Your Fund to Your Goals
Choosing the right fund comes down to three key questions:
- 1.
When will I need the money?
Short-term (0-3 yrs) → Defensive/Conservative. Medium-term (3-7 yrs) → Balanced. Long-term (7+ yrs) → Growth/Aggressive.
- 2.
How much risk can I handle?
If watching your balance drop would cause stress, lean towards lower-risk. If you can stomach the ups and downs for bigger gains, lean towards growth.
- 3.
What’s my goal?
Is it for a first home in 5 years or retirement in 30? Your timeline is one of the most important factors.
You might not be in the best match right now
Many people are in the wrong fund for their needs — often by default. It only takes a few minutes to check.
Switching Funds is Easier Than You Think
You can change your KiwiSaver fund anytime, for free, directly with your provider.
1. Log in to your provider's website or app.
2. Find the “Change Fund” or “Switch Fund” option.
3. Choose your new fund type and confirm.
Common Questions
Your future self will thank you.
Choosing the right KiwiSaver fund today could mean thousands more in your account later. Take the time to match your fund to your needs — it’s worth it.