KiwiSaver highly competitive with much larger Aussie and British peers

It also found that the fees charged on default KiwiSaver funds are on average lower than the fees charged to members of similar default fees in Australia and Britain.

The analysis found the was “a weak relationship” between the sizes of funds and the total fees paid.

“Due to the lower average fees and significantly lower funds under management (FUM) that characterises the New Zealand peer group, no meaningful benefit of scale are observed compared to the other systems,” Deloitte said.

Generate declined to comment on the results.