If you’ve been wondering whether you can transfer your KiwiSaver account to another provider, the short answer is: yes, absolutely, at any time. And it is usually a super quick and easy process. KiwiSaver is designed to be flexible, which means switching to a different provider is not only allowed at any time, but should be a seamless experience for the person switching. 

Maybe you’ve been thinking about fees, your fund performance, or wanting a provider whose values are more in line with your own. Or maybe you've just seen a dip in your balance and are wondering what your options are. Whatever the reason, switching KiwiSaver providers is easier than you might think.


Why do people switch?

There’s no single reason why people move their KiwiSaver account to another provider. Some are looking for lower fees. Others may want more control or visibility over where their hard-earned money is invested. Some are after better online tools or more responsive customer service. And sometimes, it’s just about being with a provider that feels more aligned with your values, ethos or long-term goals.

Whatever your motivation, it’s a good idea to do your homework and make sure your KiwiSaver account is working for you, and that you feel like you’re getting the best from your provider that you can.

How do I switch KiwiSaver providers?

While anyone considering switching KiwiSaver providers should take their time to research and review their options, once they have made a decision, the  process is simple and usually only takes a few minutes. Typically, the process looks something like this:

1. Choose your new provider. Look for a provider and fund type that suits your investment style, risk appetite and long-term goals. This is the longest bit, so take your time and do your research!
   
   

2. Sign up with your chosen provider. You’ll usually just need your IRD number and a valid NZ ID, and most providers offer an online form that takes just a few minutes to fill out.
   
   

3. Your new provider will handle the transfer. Once you’ve signed up, your new provider will contact your old one and move your balance over. You don’t need to do anything else - there’s no need to notify the provider you’re moving away from.
   
   

There’s no cost to switch, and you won’t lose any of your KiwiSaver contributions or government entitlements in the process. Note that you will be “out of the market” for a short period of time, as your old provider will sell down your units in the fund you were in and transfer the money to the IRD, who will then transfer it to the new provider for them to invest your balance into the new fund you’ve chosen. This behind-the-scenes process takes time, typically between 5-10 (but can be longer, if there are data mismatches) working days in total.

What should I look for in a provider?

This really depends on what matters to you. Some things to consider might include:

• Fees: Even small differences in fees can have a big impact over time, as they can eat into your returns.

• Fund choices: Do they offer a fund that matches your risk appetite?

• Transparency: Is it clear where your money is invested?

• Values: Do they align with what you care about - like ethical investing or giving back to the community?

• Reputation: Are they trusted? Have they got good reviews or endorsement from their current members?
  
  

It’s also worth using tools like the Sorted Smart Investor tool to compare KiwiSaver providers side by side in terms of their fees, fund types, performance, and more. Or if you need a little more personalised help, you could consider seeking independent financial advice from a qualified advisor.

What about during market downturns?

We get it - seeing your KiwiSaveraccount  balance dip can be unnerving. But switching providers shouldn’t be about reacting to short-term market fluctuations. KiwiSaver is a long-term vehicle (given it’s a retirement savings scheme), and choosing a provider that suits your long-term values and needs is what matters most.

A good provider will help you stay focused on the big picture, so that you don’t need to worry about short term volatility or timing the market.

Is Simplicity right for me? 

If you’re considering changing your KiwiSaver provider to one that suits your needs, you have plenty of choice - as at May 2025, according to the FMA there are 28 KiwiSaver providers. All of whom offer a variety of fund types, levels of service, active vs passive management, and more.

As for Simplicity - we’re a little unique! As NZ’s nonprofit KiwiSaver provider, we focus on making money for our members, not shareholders. In 2021 we were appointed by the government as one of six “default providers”, and we give 15% of our fees to the Simplicity Foundation  which helps Kiwi charities in need. We try to keep things low-fee, simple and long-term focused — our mission is to make Kiwis richer and smarter with money.

Self-promotion aside, you really do need to do some research of your own, and make an informed choice. The most important thing is that your KiwiSaver investment is in a fund (and with a provider) that’s right for you. Make sure that when you’re considering different options, you read the Product Disclosure Statement (PDS) - Simplicity’s can be found here.

Ready to make the switch? Or just want to explore your options? Whether you decide to switch providers today or just want to understand what else is out there, it’s good to know that the choice is yours - and if/when you make that decision, it’s a quick and easy process to make the switch.

Further resources:

Choosing the right KiwiSaver fund for you - Money Made Simple

- Listen on Spotify 

- Listen on Apple

Sorted’s Smart Investor Tool: https://smartinvestor.sorted.org.nz/ 

MoneyHub’s favourite KiwiSaver funds guide: https://www.moneyhub.co.nz/best-kiwisaver-funds.html 

The information provided and opinions expressed in this article are intended for general guidance only and not personalised to you. These materials do not take into account your particular financial situation or goals and are not financial advice or a recommendation. This article is not intended to convey any guarantees as to the future performance of any of the investment products, asset classes, or capital markets mentioned. Past performance is no guarantee of future performance. Information is current at the time of posting, and subject to change without notice. Simplicity NZ Ltd is the issuer of the Simplicity KiwiSaver Scheme and Investment Funds. For Product Disclosure Statements please visit our website simplicity.kiwi.