You can switch KiwiSaver providers at any time. It's a straightforward process, but there are rules and a few traps to avoid before you make the move. With close to 30 providers competing for your balance, switching can save you thousands in fees over a lifetime.
How Often Can You Switch?
You can switch your KiwiSaver provider once every 12 months. You can switch more often only in limited circumstances — for example, if your provider is closing down. Changing fund type within the same provider (e.g. Balanced to Growth) doesn't count as a switch and can be done at any time.
The Switching Process
- Choose a new provider — Compare fees, funds, and features. See our provider comparison guide.
- Apply online — Most providers have an online transfer form. You'll need your IRD number and current account details.
- The new provider handles it — Your new provider contacts your old provider to arrange the transfer. You don't need to talk to your old provider at all.
- Processing time — Transfers typically take 3–10 working days.
What Transfers?
When you switch, everything transfers to your new provider:
- Your member contributions
- Your employer contributions
- Government contributions and member tax credits
- Investment earnings
You don't lose any benefits or contributions by switching.
Fees When Switching
- No transfer fee: KiwiSaver providers cannot charge a fee to transfer your account out.
- No exit fee: There are generally no fees for leaving a provider.
- Potential buy/sell spreads: If your current provider has buy/sell spreads, selling your units may incur a small cost (typically 0.10%–0.30%).
Reasons to Switch
- Lower fees — a 0.5% fee difference on a $50,000 balance compounds to roughly $48,000 over 30 years (at 6% returns)
- Better performance — consistent underperformance versus benchmarks may warrant a change
- Different fund types — your current provider may not offer a fund that suits your stage of life
- Ethical investing — switch to a provider with socially responsible investment options
- Features and service — better app, customer service, or online tools
Switching Within the Same Provider
You can change your fund type within the same provider at any time, as often as you like. This doesn't count as a provider switch and doesn't affect your 12-month switching limit.
Common Mistakes
- Switching on headline fees alone — compare total fees (member fee + fund expenses) and after-fee performance.
- Chasing last year's top performer — returns revert; low, predictable fees are the most reliable long-term edge.
- Switching during a market downturn — you sell low and buy back in after the recovery.
- Forgetting to check the new provider's default fund — you may be placed in a balanced fund that doesn't match your risk profile; select your fund as part of the switch.
- Not updating your employer — if your KiwiSaver deduction details change, payroll needs the new provider's details.
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Before You Switch: A Preparation Checklist
- Have your IRD number and current provider details handy
- Confirm your 12-month switch window is open (your provider or myIR can tell you)
- Decide your fund type first — then pick a provider that offers it well, rather than the reverse
- Check the new provider's total fees and after-fee returns, not the headline rate
- Note your current PIR so the new provider applies the right tax rate from day one
What If You Regret the Switch?
You can switch back — but the 12-month rule applies to the return journey too, and each transfer may trigger buy/sell spreads. That's a good reason to take your time: compare providers over a few weeks, check Morningstar's quarterly surveys, and if you're torn between two, choose the lower-fee one (fees are guaranteed; performance isn't). Once the transfer completes (3–10 working days), log in to your new account, confirm your fund selection and PIR, and tell your employer the new provider's details.
Why the 12-Month Rule Exists
The once-per-12-months limit exists to stop constant switching — churning between providers creates costs (buy/sell spreads) and encourages members to chase short-term performance. Treat the rule as a design feature: it forces you to compare carefully and commit, which is exactly the right mindset for a decades-long investment. Many providers let you start the transfer from inside their app, but the paperless process still requires your IRD number and current provider details.