Business

KiwiSaver fees on the rise - Canstar

07:41 am on 10 September 2014

A research company says KiwiSaver fees are rising faster than inflation.

Canstar evaluated 130 KiwiSaver funds from 27 providers in its annual survey.

Canstar research manager Mitchell Watson said increases in administration costs were the most likely reason for the rising fees.

Listen to Mitchell Watson

He said on an average balance the maximum fee has only risen by $7 per annum.

Mr Watson said there could be a number of reasons for that as individual schemes look at their administration costs and also additional benefits they are looking to add in as well.

He said it is important for people to ensure that the scheme they are with is providing the greatest value.

"If you go into the lowest cost is that then perhaps a low frills scheme where you may not have as many investment opportunities or you may not have the range of educational tools available to you as well."