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Tax statement information

Booster KiwiSaver Scheme fees & charges

Fees are a fact of life. No-one likes paying over the top. We work hard to make sure our fees are fair, reasonable and reflect the value and quality of our services. Plus, we want to give you a helping hand. So, we only charge a member fee on account balances over $500. 

booster-kiwisaver-scheme-fees-and-charges-pie-new-zealand

Account fees are discounted on balances above $200,000. Booster charges a reduced fee on the portion of the balance above $200,000, with larger discounts for larger thresholds. Find out more below.

Account balance Fund type
Conservative Fund
Annual fund charge
0.38%

Member fee
$3.00 per month
($36 per year)
Conservative Fund
Annual fund charge
0.38%

Member fee
$3.00 per month
($36 per year)
Conservative Fund
Annual fund charge
0.38%

Member fee
$3.00 per month
($36 per year)
Conservative Fund
Annual fund charge
0.38%

Member fee
$3.00 per month
($36 per year)
Conservative Fund
Annual fund charge
0.38%

Member fee
$3.00 per month
($36 per year)
Enhanced Cash Fund
Annual fund charge
0.75%

Member fee
$3.00 per month
($36 per year)
Enhanced Cash Fund
Annual fund charge
0.45%

Member fee
$3.00 per month
($36 per year)
Enhanced Cash Fund
Annual fund charge
0.25%

Member fee
$3.00 per month
($36 per year)
Enhanced Cash Fund
Annual fund charge
0.15%

Member fee
$3.00 per month
($36 per year)
Enhanced Cash Fund
Annual fund charge
0.00%

Member fee
$3.00 per month
($36 per year)
Capital Guaranteed Fund
Annual fund charge
0.91%

Member fee
$3.00 per month
($36 per year)
Capital Guaranteed Fund
Annual fund charge
0.61%

Member fee
$3.00 per month
($36 per year)
Capital Guaranteed Fund
Annual fund charge
0.41%

Member fee
$3.00 per month
($36 per year)
Capital Guaranteed Fund
Annual fund charge
0.31%

Member fee
$3.00 per month
($36 per year)
Capital Guaranteed Fund
Annual fund charge
0.09%

Member fee
$3.00 per month
($36 per year)
Moderate Fund
Annual fund charge
1.11%

Member fee
$3.00 per month
($36 per year)
Moderate Fund
Annual fund charge
0.81%

Member fee
$3.00 per month
($36 per year)
Moderate Fund
Annual fund charge
0.61%

Member fee
$3.00 per month
($36 per year)
Moderate Fund
Annual fund charge
0.51%

Member fee
$3.00 per month
($36 per year)
Moderate Fund
Annual fund charge
0.29%

Member fee
$3.00 per month
($36 per year)
Asset Class Conservative Fund
Annual fund charge
1.11%

Member fee
$3.00 per month
($36 per year)
Asset Class Conservative Fund
Annual fund charge
0.97%

Member fee
$3.00 per month
($36 per year)
Asset Class Conservative Fund
Annual fund charge
0.87%

Member fee
$3.00 per month
($36 per year)
Asset Class Conservative Fund
Annual fund charge
0.79%

Member fee
$3.00 per month
($36 per year)
Asset Class Conservative Fund
Annual fund charge
0.72%

Member fee
$3.00 per month
($36 per year)
Default Saver Fund
Annual fund charge
0.35%

Member fee
No Member Fee
-
Default Saver Fund
Annual fund charge
0.35%

Member fee
No Member Fee
-
Default Saver Fund
Annual fund charge
0.35%

Member fee
No Member Fee
-
Default Saver Fund
Annual fund charge
0.35%

Member fee
No Member Fee
-
Default Saver Fund
Annual fund charge
0.35%

Member fee
No Member Fee
-
Balanced Fund
Annual fund charge
1.23%

Member fee
$3.00 per month
($36 per year)
Balanced Fund
Annual fund charge
0.93%

Member fee
$3.00 per month
($36 per year)
Balanced Fund
Annual fund charge
0.73%

Member fee
$3.00 per month
($36 per year)
Balanced Fund
Annual fund charge
0.63%

Member fee
$3.00 per month
($36 per year)
Balanced Fund
Annual fund charge
0.41%

Member fee
$3.00 per month
($36 per year)
Asset Class Balanced Fund
Annual fund charge
1.18%

Member fee
$3.00 per month
($36 per year)
Asset Class Balanced Fund
Annual fund charge
1.04%

Member fee
$3.00 per month
($36 per year)
Asset Class Balanced Fund
Annual fund charge
0.94%

Member fee
$3.00 per month
($36 per year)
Asset Class Balanced Fund
Annual fund charge
0.86%

Member fee
$3.00 per month
($36 per year)
Asset Class Balanced Fund
Annual fund charge
0.79%

Member fee
$3.00 per month
($36 per year)
Growth Fund
Annual fund charge
1.30%

Member fee
$3.00 per month
($36 per year)
Growth Fund
Annual fund charge
1.00%

Member fee
$3.00 per month
($36 per year)
Growth Fund
Annual fund charge
0.80%

Member fee
$3.00 per month
($36 per year)
Growth Fund
Annual fund charge
0.70%

Member fee
$3.00 per month
($36 per year)
Growth Fund
Annual fund charge
0.48%

Member fee
$3.00 per month
($36 per year)
Shielded Growth Fund
Annual fund charge
1.37%

Member fee
$3.00 per month
($36 per year)
Shielded Growth Fund
Annual fund charge
1.07%

Member fee
$3.00 per month
($36 per year)
Shielded Growth Fund
Annual fund charge
0.87%

Member fee
$3.00 per month
($36 per year)
Shielded Growth Fund
Annual fund charge
0.77%

Member fee
$3.00 per month
($36 per year)
Shielded Growth Fund
Annual fund charge
0.55%

Member fee
$3.00 per month
($36 per year)
High Growth Fund
Annual fund charge
1.36%

Member fee
$3.00 per month
($36 per year)
High Growth Fund
Annual fund charge
1.06%

Member fee
$3.00 per month
($36 per year)
High Growth Fund
Annual fund charge
0.86%

Member fee
$3.00 per month
($36 per year)
High Growth Fund
Annual fund charge
0.76%

Member fee
$3.00 per month
($36 per year)
High Growth Fund
Annual fund charge
0.54%

Member fee
$3.00 per month
($36 per year)
Geared Growth Fund
Annual fund charge
1.76%*

Member fee
$3.00 per month
($36 per year)
Geared Growth Fund
Annual fund charge
1.46%*

Member fee
$3.00 per month
($36 per year)
Geared Growth Fund
Annual fund charge
1.26%*

Member fee
$3.00 per month
($36 per year)
Geared Growth Fund
Annual fund charge
1.16%*

Member fee
$3.00 per month
($36 per year)
Geared Growth Fund
Annual fund charge
0.94%*

Member fee
$3.00 per month
($36 per year)
Asset Class Growth Fund
Annual fund charge
1.24%

Member fee
$3.00 per month
($36 per year)
Asset Class Growth Fund
Annual fund charge
1.10%

Member fee
$3.00 per month
($36 per year)
Asset Class Growth Fund
Annual fund charge
1.00%

Member fee
$3.00 per month
($36 per year)
Asset Class Growth Fund
Annual fund charge
0.92%

Member fee
$3.00 per month
($36 per year)
Asset Class Growth Fund
Annual fund charge
0.85%

Member fee
$3.00 per month
($36 per year)
SR Moderate Fund
Annual fund charge
1.09%

Member fee
$3.00 per month
($36 per year)
SR Moderate Fund
Annual fund charge
0.79%

Member fee
$3.00 per month
($36 per year)
SR Moderate Fund
Annual fund charge
0.59%

Member fee
$3.00 per month
($36 per year)
SR Moderate Fund
Annual fund charge
0.49%

Member fee
$3.00 per month
($36 per year)
SR Moderate Fund
Annual fund charge
0.27%

Member fee
$3.00 per month
($36 per year)
SR Balanced Fund
Annual fund charge
1.22%

Member fee
$3.00 per month
($36 per year)
SR Balanced Fund
Annual fund charge
0.92%

Member fee
$3.00 per month
($36 per year)
SR Balanced Fund
Annual fund charge
0.72%

Member fee
$3.00 per month
($36 per year)
SR Balanced Fund
Annual fund charge
0.62%

Member fee
$3.00 per month
($36 per year)
SR Balanced Fund
Annual fund charge
0.40%

Member fee
$3.00 per month
($36 per year)
SR Growth Fund
Annual fund charge
1.23%

Member fee
$3.00 per month
($36 per year)
SR Growth Fund
Annual fund charge
0.93%

Member fee
$3.00 per month
($36 per year)
SR Growth Fund
Annual fund charge
0.73%

Member fee
$3.00 per month
($36 per year)
SR Growth Fund
Annual fund charge
0.63%

Member fee
$3.00 per month
($36 per year)
SR Growth Fund
Annual fund charge
0.41%

Member fee
$3.00 per month
($36 per year)
SR High Growth Fund
Annual fund charge
1.24%

Member fee
$3.00 per month
($36 per year)
SR High Growth Fund
Annual fund charge
0.94%

Member fee
$3.00 per month
($36 per year)
SR High Growth Fund
Annual fund charge
0.74%

Member fee
$3.00 per month
($36 per year)
SR High Growth Fund
Annual fund charge
0.64%

Member fee
$3.00 per month
($36 per year)
SR High Growth Fund
Annual fund charge
0.42%

Member fee
$3.00 per month
($36 per year)
SR Geared Growth Fund
Annual fund charge
1.65%*

Member fee
$3.00 per month
($36 per year)
SR Geared Growth Fund
Annual fund charge
1.35%*

Member fee
$3.00 per month
($36 per year)
SR Geared Growth Fund
Annual fund charge
1.15%*

Member fee
$3.00 per month
($36 per year)
SR Geared Growth Fund
Annual fund charge
1.05%*

Member fee
$3.00 per month
($36 per year)
SR Geared Growth Fund
Annual fund charge
0.83%*

Member fee
$3.00 per month
($36 per year)


*Interest costs on geared funds apply. See PDS for more details

Member fee

The member fee covers the cost of administering your account. It’s deducted from your account each month.


Other account fees

  • Account establishment fee
  • Account contribution
  • Account withdrawal
  • Switching funds fee
  • Account closure fee : $30

Annual fund charges

The annual fund charges include all charges associated with investing in Booster KiwiSaver funds. It excludes the monthly member fee or one-off account fees.

Made up of:

  • Annual management fee: It’s charged as a fixed percentage of the net asset value of the fund.
  • Portfolio administration & performance-based fees: These are estimated charges and will vary, depending on the performance of the fund and the number of overseas investment transactions.

The annual fund charges do not include the monthly member fee or one-off account fees.

How is it charged?

The annual fund charges are deducted directly from the fund you invest in. This means you won’t see it as a deduction from your balance. Your balance reflects the value of your account with the annual fund charges already paid.

Tiered fee rebates

If you have more than $200,000 invested in Booster KiwiSaver funds (excluding the Default Saver Fund and the Conservative Fund), you’ll receive a rebate on your annual fund charge. There are four tiers of rebates, with bigger rebates for larger balances.

How is it applied?

The fee discount will be paid as a rebate. It will be calculated daily as a percentage of the total value of your investments and applied at the end of each month to buy additional units in the relevant fund(s).

  • If you hold any portion of your investment in one or more of the Asset Class Funds, the Asset Class Fund rebates will be applied across your entire balance.
  • If you hold any portion of your investment in the default fund or the Conservative Fund, no fee rebates will be applied to any of your balance.

The Finer Details

Annual management fee? Variable charges? Performance-based fees? Want to understand the terms in a bit more detail?
Here’s our explanation for these standard industry terms:
Annual management fee

This fee varies between funds. It covers Booster’s administration and investment management fees, the Supervisor’s fee, and the regular costs and expenses of running the Booster KiwiSaver Scheme (such as audit fees and legal fees). It is calculated daily as a percentage of the net asset value of the fund and paid monthly.

This fee also covers many of the fees of  funds that the Booster KiwiSaver funds invest in. 

Because the manager of Booster Tahi LP is Booster Funds Management Limited, and it may receive a performance fee based on the returns of Booster Tahi LP, (see the Performance based fee section below), 0.50% of Booster’s annual management fee will be rebated on the amount invested in Booster Tahi LP.

Applies to all funds.

Foreign exchange facilitation fee

This fee is up to 0.50% of any net foreign exchange transaction and may be charged directly or indirectly to Booster KiwiSaver funds that invest in funds managed by Booster.

It is deducted from the relevant fund or underlying fund and, as a result, reduces the unit price of each fund.

Applies to: Capital Guaranteed, Moderate, Balanced, Growth, Shielded Growth, High Growth, Growth Funds, Socially Responsible Moderate, Socially Responsible Balanced, Socially Responsible Growth, Socially Responsible High Growth and Socially Responsible Geared Growth Funds.

Gearing fee and interest costs

This fee is worth 1.1% p.a. of the borrowed component (the amount borrowed) of the Geared Growth Fund and the Socially Responsible Geared Growth Fund (the geared funds). It does not apply to any other fund.

It is calculated daily as a percentage of the borrowed component of the relevant geared fund and deducted each month.

Any interest paid on the amount borrowed is also deducted from the geared fund.

The fee and interest costs are deducted from the geared fund and, as a result, reduces the unit price of the geared fund.

Applies to: Geared Growth and Socially Responsible Geared Growth Funds.

Performance based fee

Some funds may invest in Booster Tahi LP and Booster Innovation Fund (BIF). Booster Tahi LP is a limited partnership which invests in private (or unlisted) small to medium-sized New Zealand companies.

BIF is a managed investment scheme which invests indirectly in unlisted shares in early-stage companies founded on intellectual property developed in New Zealand.

The managers of Booster Tahi LP and BIF may be paid a performance fee based on their return over a certain hurdle rate. An estimate of these fees is included in the annual fund charges.

Applies to: Moderate, Balanced, Growth, Socially Responsible Moderate, Socially Responsible Balanced, Socially Responsible Growth, Socially Responsible High Growth, High Growth, Shielded Growth and Geared Growth Funds.

External manager fees 

Funds may invest directly or indirectly via another fund in funds that are managed by external managers. Fees for external managers are rebated by Booster back to the Funds except for some performance-based fees, and investment origination fees relating to funds providing unlisted private credit exposure. 

For more info on fees and charges, see the relevant Booster KiwiSaver Scheme PDS.

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