Fees Information
Showing fees in the KiwiSaver annual statements
Every year KiwiSaver providers are required to send all KiwiSaver members an annual statement. There is a requirement to include fees in dollar terms in these statements and the below provides more information on how the fees work and how they are calculated.
Fees in the New Zealand Defence Force KiwiSaver Scheme
The Scheme has one main fee type, fund charges which include the manager’s basic fee, fees for the custodian and supervisor, scheme expenses and in-fund costs. The fund charges vary depending on the fund you invest in and the estimated range for the 2023 annual statement is from 0.44% for the Cash fund to 1.06% for the Shares fund.
You can read more about fees in the product disclosure statement.
Methodology for calculating dollar fees on annual member statements
The annual fund charge estimate included in the total dollar fees in the Scheme annual member statements are calculated using the cents per unit methodology, which is based on your daily balance.
The fee shown in the statement is the total estimated fee paid by you during the year to 31 March. The reason it is an estimate is because some fee information is finalised after the statements need to be prepared.
The total estimated fee is comprised as follows:
Annual Fund Charges (Estimated)
|
Manager’s Basic Fee (Net of Estimated Rebate) |
Fee charged by Mercer for services such as investment management. A rebate applies for the NZDF Savings Schemes and this has been estimated for the year. |
Other Expenses |
These have been estimated and are comprised of supervisor/custodian fees, Mercer and New Zealand Defence Force scheme expenses, as well costs associated with the underlying funds which can be deducted from the returns received from those managers. |
Scheme expenses have been estimated based on data available at the time the statement is prepared. The estimates will vary depending on the size of your balance.
Here is an example of the estimated total fees for the Conservative Fund:
Balance |
Total fees (including estimates) / $ per member per annum* |
$10,000 |
$67.00 |
$20,000 |
$134.00 |
$30,000 |
$201.00 |
$40,000 |
$268.00 |
$50,000 |
$335.00 |
$75,000 |
$502.50 |
$100,000 |
$670.00 |
Where can I find fees charged by Mercer in previous years?
You can download copies of your previous annual statements on the www.nzdfsavings.mil.nz website, once you sign in to your account.
18 May 2023