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Commission launches KiwiSaver fees calculator

Friday, 25 January 2008, 2:33 pm
Press Release: Retirement Commission

Media Release
24 January 2008

Retirement Commission launches KiwiSaver fees calculator

To help New Zealanders with the complicated task of working out which KiwiSaver fund is most suitable for them, the Retirement Commission has released an analysis of KiwiSaver fees.

“Our independent estimate of KiwiSaver fees will help New Zealanders make a more informed decision on which KiwiSaver provider and fund to choose,” says Retirement Commissioner Diana Crossan.

This calculator is the result of a rigorous development process undertaken by the Retirement Commission. The fees analysis was completed by Melville Jessup Weaver (Consulting Actuaries) and reviewed by several KiwiSaver providers and independent experts.

“The KiwiSaver fees calculator complements other KiwiSaver decision making tools on www.sorted.org.nz, making informed decision-making about KiwiSaver, much simpler.

“It is important to not look at estimated fees in isolation when choosing a KiwiSaver provider. The level of risk (and associated return), service level and communication offered by the fund provider should also be considered,” says Ms Crossan.

Key questions before joining KiwiSaver

“We encourage potential KiwiSaver members to ask themselves a series of questions before joining – the answers to which can be found via Sorted’s range of KiwiSaver decision making tools,” says Ms Crossan.

Questions Answers
How much will KiwiSaver cost me each pay? Quick KiwiSaver calculator or KiwiSaver Decision Guide
How much could I save by 65 years of age? Quick KiwiSaver calculator or KiwiSaver Decision Guide
Can I afford KiwiSaver? Budget calculator

Should I pay off debt first or join KiwiSaver or do both at once? KiwiSaver Decision Guide

What fees will I pay for different KiwiSaver funds? KiwiSaver fees calculator

KiwiSaver decision making tools and a full list of publically available KiwiSaver funds are available at Sorted.org.nz, the Retirement Commission’s independent and impartial website.

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