KiwiSaver Satisfaction Is Up! But What’s Still Missing?
Published on May 22, 2023 by Duck Bell
Recent consumer surveys reveal a growing satisfaction among KiwiSaver members. But while more people report positive experiences, gaps remain. How can we make KiwiSaver better for everyone?
The Data: A Positive Trend
According to Consumer NZ, satisfaction rose from 52% to 57% in 2025. Members appreciate better communication from providers, more transparency on fees, and easy-to-use online tools to track their investments.
Where Gaps Remain
- Financial Literacy: Many members still lack a basic understanding of different investment types and how fund performance impacts their long-term balance.
- Clarity on Fees: While improving, hidden or confusing fee structures can still reduce trust and make it hard to compare providers effectively.
- Personalized Guidance: Access to personalized financial advice is still limited for many everyday Kiwis, leaving them to make important decisions on their own.
How We Can Improve
To truly empower savers, the industry needs to focus on:
- Better Education Tools: Interactive guides, videos, and calculators can help members understand their funds and make better choices.
- Transparent Communication: Clear, simple reporting on fees and fund performance builds trust and facilitates comparison.
- Accessible Guidance: Digital advice tools and clear pathways to human advisers can help bridge the guidance gap.
Conclusion
While rising satisfaction is a great sign, there's more work to do. With a continued focus on better guidance, education, and clarity, KiwiSaver can become an even more powerful tool for all New Zealanders.