KiwiSaver Fund Type Comparison Calculator NZ

This calculator compares how a conservative KiwiSaver fund and a growth fund could grow by the time you retire in New Zealand, revealing the long-term difference your fund choice makes. The fund type you are in is one of the biggest levers on your final KiwiSaver balance, yet many people never change the fund they were defaulted into. A growth fund holds more shares and aims for a higher average return with bigger swings along the way, while a conservative fund holds more bonds and cash for a steadier but lower return. Over a few years the difference is modest, but compounded over decades it becomes dramatic, often tens or even hundreds of thousands of dollars, because the higher return earns on an ever-larger balance. You enter your current balance, your total annual contributions including employer and government amounts, the years until you withdraw, and the return you assume for a conservative and a growth fund, and the calculator projects each balance and the gap between them. Use it to see what staying in a low-return fund could cost over a long horizon, and to weigh that against the bigger ups and downs a growth fund brings, especially if your withdrawal is years away. Returns vary and are not guaranteed; this is a projection, not advice.

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$139,564
extra the growth fund could deliver by retirement
Growth fund$348,214
Conservative fund$208,650

A projection at steady returns; real returns vary year to year and growth funds swing more. Match your fund to how long until you withdraw. Not advice.

How it works

Each fund grows your current balance at its assumed return, compounded over the years, and adds your annual contributions, which themselves compound. The calculator does this for both the conservative and growth returns you enter, using the future value of a lump sum plus a stream of annual contributions, and shows the difference between the two projected balances.

Worked example

Starting with 30,000 dollars and adding 4,000 dollars a year for 25 years, a conservative fund at 3 percent grows to about 208,649 dollars, while a growth fund at 6 percent grows to about 348,214 dollars, a difference of roughly 139,565 dollars.

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Data sources: the rates and thresholds on this page are maintained against Inland Revenue. Figures are checked twice monthly.

Frequently asked questions

Does my KiwiSaver fund type really matter?

Enormously over a long horizon. A growth fund averages a higher return than a conservative one, and compounded over decades that gap can mean tens or hundreds of thousands of dollars more at retirement, though with bigger ups and downs along the way.

Which fund type should I be in?

Generally, the longer until you need the money, the more growth you can handle, because you have time to ride out market falls. Closer to retirement or a first-home withdrawal, a more conservative fund protects against a downturn at the wrong time.

What returns should I assume?

Long-run averages after fees and tax are often around 2 to 4 percent for conservative funds and 4 to 6 percent for growth funds, but actual returns vary year to year. Use figures you are comfortable with and treat the result as a projection.