KiwiSaver fund types compared
Defensive, conservative, balanced, growth and aggressive, side by side over your own timeline, using the returns the government sets for annual statements.
The short answer
For a 30 year old earning $70,000 with $20,000 at the default rate, the balance at 65 in today’s dollars ranges from $213,495 in a defensive fund to $446,399 in an aggressive fund, using the returns the government sets for annual statements. A balanced fund gives $302,947.
- Aggressive $446,399
- Growth $366,092
- Balanced $302,947
- Conservative $253,078
- Defensive $213,495
| Gap between defensive and aggressive | $232,904 |
Show the chart as a table
| Fund type | Growth assets | Return assumed | At 65, today’s dollars | Annual statement figure | Weekly to 90 |
|---|---|---|---|---|---|
| Defensive | 0% to 9.9% | 1.5% | $213,495 | $195,000 | $160 |
| Conservative | 10% to 34.9% | 2.5% | $253,078 | $231,000 | $190 |
| Balanced | 35% to 62.9% | 3.5% | $302,947 | $277,000 | $230 |
| Growth | 63% to 89.9% | 4.5% | $366,092 | $335,000 | $270 |
| Aggressive | 90% to 100% | 5.5% | $446,399 | $409,000 | $330 |
Rules as at 10 November 2026. Paid by no KiwiSaver provider. General information, not financial advice.
Fund types by age
At 65 in today’s dollars on $70,000 a year with $20,000 saved, at the default rate.
| Age now | Defensive | Conservative | Balanced | Growth | Aggressive |
|---|---|---|---|---|---|
| 25 | $245,883 | $297,644 | $364,938 | $453,022 | $569,015 |
| 30 | $213,495 | $253,078 | $302,947 | $366,092 | $446,399 |
| 35 | $182,494 | $211,708 | $247,373 | $291,062 | $344,741 |
| 40 | $152,056 | $172,637 | $196,975 | $225,818 | $260,064 |
| 45 | $122,915 | $136,506 | $152,068 | $169,907 | $190,373 |
| 50 | $95,220 | $103,356 | $112,369 | $122,359 | $133,434 |
| 55 | $68,839 | $72,950 | $77,354 | $82,069 | $87,118 |
Questions people ask
What are the KiwiSaver fund types?
Defensive, conservative, balanced, growth and aggressive, set by the share of growth assets such as shares and commercial property. There is no official “moderate” type.
Which fund type is best?
This site does not recommend a fund. Funds with more growth assets are assumed to return more in the government’s projection rules, and the calculator shows what that assumption means over your own timeline.
What returns are assumed?
1.5% for defensive up to 5.5% for aggressive, after fees and tax. These are set in Schedule 7A of the Financial Markets Conduct Regulations for annual statement projections.
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