{"id":15070,"date":"2019-02-18T05:50:25","date_gmt":"2019-02-17T17:50:25","guid":{"rendered":"https:\/\/milfordasset.com\/?p=15070"},"modified":"2025-09-18T15:02:09","modified_gmt":"2025-09-18T03:02:09","slug":"3-reasons-to-change-from-your-default-kiwisaver-fund","status":"publish","type":"post","link":"https:\/\/milfordasset.com\/insights\/3-reasons-to-change-from-your-default-kiwisaver-fund","title":{"rendered":"3 Reasons to Change From Your Default KiwiSaver Fund"},"content":{"rendered":"<p>Are you one of the many people who are still with the KiwiSaver fund you were defaulted to when starting a new job? If you are, have you considered changing providers or funds? For a brighter future, we believe there are three key reasons to consider changing from your default KiwiSaver fund.<\/p>\n<h2>1. You could be doing better<\/h2>\n<p>Over the long term default <a href=\"https:\/\/milfordasset.com\/what-we-offer\/kiwisaver\">KiwiSaver funds<\/a> are lower risk and lower returning funds. They are purposely designed this way. The original thinking from the Government, was investors would be \u2018defaulted\u2019 to one of these funds for a short time until they made a decision as to which fund and\/or which <a href=\"https:\/\/milfordasset.com\/what-we-offer\/kiwisaver\">KiwiSaver provider<\/a> was appropriate for them. The problem is people are busy and life gets in the way. So, tens of thousands of people have stayed in their default fund, generally earning lower returns than those that have chosen higher-returning growth funds. For example, over the last 10 years data from investment research company Morningstar shows KiwiSaver default funds have averaged an after-fee return of 5.7% p.a. Whereas growth funds have averaged an after-fee return of 9.5% p.a. If you forecast these returns over a person\u2019s working career, the difference at retirement can easily be tens of thousands of dollars or more.<\/p>\n<h2>2. You could be happier<\/h2>\n<p><a href=\"https:\/\/www.consumer.org.nz\/\">Consumer NZ<\/a> conducts KiwiSaver research each year to select the winner of their People\u2019s Choice Award. One of the findings from this year\u2019s research was that people who hand-picked their KiwiSaver provider were more satisfied than those that didn\u2019t.\u00a0The research also found those that chose Milford\u2019s KiwiSaver Plan had the overall highest satisfaction rate.<\/p>\n<h2>3. It was only meant to be temporary<\/h2>\n<p>The Government created the KiwiSaver default setting as a temporary holding place for new KiwiSaver members until they made an active decision on where to invest their savings. So, if you\u2019re still with your default fund, we\u2019d encourage you to shop around.<\/p>\n<p>At Milford, we\u2019re not a default provider. We\u2019re an award-winning investment specialist and we\u2019ve helped thousands of people like you grow their savings. By combining our world-class investment expertise with an insatiable curiosity to do better, we\u2019ve delivered <a href=\"https:\/\/milfordasset.com\/funds-performance\/view-performance\">excellent returns<\/a> for our clients over many years.<\/p>\n<p>If that sounds like the kind of company you\u2019d like looking after your savings, why not join our award-winning KiwiSaver Plan right now?<\/p>\n<p><a class=\"new-kiwi-link btn outline arrow black\" href=\"https:\/\/kiwisaver.milfordasset.com\">Join or switch to Milford in minutes<i class=\"fas fa-chevron-right\"><\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you one of the many people who are still with the KiwiSaver fund you were defaulted to when starting<\/p>\n","protected":false},"author":25,"featured_media":15071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"ep_exclude_from_search":false,"footnotes":""},"categories":[710,848,780],"tags":[],"media_type":[701],"fund_category":[704],"class_list":["post-15070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-getting-started","category-investing","category-kiwisaver","media_type-read","fund_category-milford-kiwisaver"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - 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