$65,000 is the compounding effect of fees for the Simplicity Growth fund vs the average fees for KiwiSaver growth funds. Assumes 45 years savings, 6% total contribution rate and $47,000 average salary, rising at 1% p.a., investing in a Growth Fund until 65. PIR of 17.5%. Before tax returns of 6.67% p.a. assumed in both cases. Using identical assumptions the equivalent saving by investing in a balanced fund is $37,713 (5.33% p.a. gross returns) and Conservative Fund $19,370 (4.18% p,a. gross returns). Simplicity fees assume $30 p.a. administration fees and 0.30% total fund management fees, inclusive of in fund expenses. All Simplicity funds charge the same fees.

This example is for illustration purposes only, to show the compounding effect of reduced fees. Actual performance will differ, and no particular return can be promised or guaranteed. Investment in a growth fund may not be appropriate and investors should get financial advice. All figures supplied by Melville Jessup Weaver

The KiwiSaver fees clock calculations are based on the total fund and administration charges in KiwiSaver providers most recent quarterly disclosure statements, annual reports, and the KiwiSaver annual report 2017.