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 Fees to SuperLife Limited 

While you are a member of SuperLife's KiwiSaver scheme ("SLKS"), SuperLife Limited charges a fixed dollar administration fee and a percentage of assets.

1.          Fixed dollar administration fee

The administration fee is a net $33 a year that is deducted at the rate of $2.75 a month.

This fee is deducted from your KiwiSaver Account at the rate of $2.75 a month, normally around the first of each month.

 2.          Percentage of asset fee

The percentage of asset fee charged by SuperLife is 0.1% p.a. of assets.  This is deducted off the investment return before the return is credited to your KiwiSaver Account. 

 Changing fees

 Under the trust deed, the trustee can change the administration fees on 3 months’ notice.

 Investment management

SuperLife implements the investment option decisions of its KiwiSaver members, by investing in the equivalent investment option under SuperLife’s superannuation scheme (“SLSS”). This is a separate registered superannuation scheme that is part of the SuperLife offering. The investment management fees are the fees under these schemes - no investment management fees are deducted from the SLKS.

The current investment fees charged by the investment managers before the returns are paid to SuperLife's KiwiSaver scheme are: 

The gross before-tax returns, net of the investment management fees in the table, are credited to SuperLife's KiwiSaver scheme.  Tax is then deducted and the net-of-tax return is credited to your KiwiSaver Account.

The investment management fees are the fees agreed between the investment managers and the trustee.  These fees will change should the trustee agree alternative fees with an investment manager. 

Other costs

The SuperLife KiwiSaver scheme’s external costs e.g. regulatory and compliance costs such as audit, the Government Actuary’s fees and bank fees etc. may also be deducted from the assets.  The maximum external costs that will be incurred are currently limited to 0.1% p.a. of assets in any financial year.

In addition, SuperLife Limited has the right to charge a transaction fee (up to $100) for a transfer to another KiwiSaver scheme or a benefit payable on hardship grounds.  Currently SuperLife Limited has decided that no transaction fees will be imposed for hardship benefit payments.  Transaction fees to other KiwiSaver schemes are imposed on transfers.

Comparing KiwiSaver fees

One of the most important differences between “good” and “not so good” KiwiSaver providers, is fees.  Low fees, all else being equal, are better.  However, understanding fees is complex because of the way they are calculated, the impact of tax and, in many cases, a general lack of transparency.  Some providers don’t give full details of all their fees, or are careless in the use of terms like “net” and “gross” in their investment statements. Read more... 

See how our fees compare:

Check out the  KiwiSaver fees calculator on the Sorted website to see how the SuperLife fees compare.