55+ · ranked on the data
Best KiwiSaver funds for over-55s (2026)
Within 10 years of drawing down, capital protection starts mattering more than growth. We rank Conservative and Balanced funds for the right mix of stability and upside.
General information only · Past performance is not a reliable indicator of future performance · Returns shown are historical (Morningstar Morningstar KiwiSaver 360, Q1 2026), net of fund fees at 28% PIR. For personal advice on which fund fits you, run our free Health Check or get in touch.
Smiths' top 5
The 5we'd look at first.
- 1
Balanced
Quaystreet Balanced Fund
Quaystreet Kiwisaver Scheme
Balanced · 8.16% 5y · 1.12% fees
- 2
Balanced
Quaystreet Socially Responsible Investment Fund
Quaystreet Kiwisaver Scheme
Balanced · 8.10% 5y · 1.12% fees
- 3
Balanced
Quaystreet Altum Fund
Quaystreet Kiwisaver Scheme
Balanced · 7.86% 5y · 1.37% fees
- 4
Balanced
Milford Kiwisaver Balanced Fund
Milford Kiwisaver Plan
Balanced · 6.03% 5y · 1.05% fees
- 5
Balanced
Amp Balanced Fund No. 2
Amp Kiwisaver Scheme
Balanced · 5.85% 5y · 0.85% fees
How we ranked these
Our methodology
We restrict to Conservative and Balanced funds and rank by 5-year return after fees.
Smiths is FAP-licensed (FSP712931) and gives advice on a defined panel of KiwiSaver schemes. We don't run our own scheme. We do receive an upfront fee plus a trail commission (0.25%–0.5%) from the scheme we move clients to, disclosed in full at smiths.net.nz/disclosure. The ranking on this page covers every scheme in NZ, regardless of whether it is on our panel. Past performance is not a reliable indicator of future performance. this is general information only.
The full ranking
All 118 funds we considered
- #6
Balanced
Balanced Fund
Asb Kiwisaver Scheme
Balanced · 5.66% 5y · 0.65% fees
- #7
Balanced
Amp Balanced Fund
Amp Kiwisaver Scheme
Balanced · 5.50% 5y · 0.85% fees
- #8
Balanced
Amp Balanced Fund (Lifesteps)
Amp Kiwisaver Scheme
Balanced · 5.50% 5y · 0.85% fees
- #9
Balanced
Bnz Kiwisaver Balanced Fund
Bnz Kiwisaver Scheme
Balanced · 5.34% 5y · 0.45% fees
- #10
Balanced
Pathfinder Kiwisaver Balanced Fund
Pathfinder Kiwisaver Plan
Balanced · 5.55% 5y · 1.25% fees
- #11
Balanced
Balanced Fund
Simplicity Kiwisaver Scheme
Balanced · 5.12% 5y · 0.25% fees
- #12
Balanced
Balanced Fund
Mas Kiwisaver Scheme
Balanced · 5.28% 5y · 0.99% fees
- #13
Balanced
Lifestages Auto Option Age 55 - 59
Sbs Wealth Kiwisaver Scheme
Balanced · 5.30% 5y · 1.05% fees
- #14
Balanced
Global Select Balanced Growth Fund
Amp Kiwisaver Scheme
Balanced · 5.25% 5y · 1.18% fees
- #15
Balanced
Stepping Stones 46-55
Generate Kiwisaver Scheme
Balanced · 5.29% 5y · 1.36% fees
- #16
Balanced
Asset Class Balanced Fund
Booster Kiwisaver Scheme
Balanced · 5.19% 5y · 1.32% fees
- #17
Balanced
Responsible Balanced Fund
Mercer Kiwisaver Scheme
Balanced · 4.92% 5y · 0.75% fees
- #18
Balanced
Balanced Fund
Westpac Kiwisaver Scheme
Balanced · 4.79% 5y · 0.50% fees
- #19
Balanced
Balanced Fund
Fisher Funds Kiwisaver Plan
Balanced · 4.86% 5y · 1.04% fees
- #20
Balanced
Socially Responsible Balanced Fund
Booster Kiwisaver Scheme
Balanced · 4.93% 5y · 1.33% fees
- #21
Balanced
Stepping Stones 56-60
Generate Kiwisaver Scheme
Balanced · 4.78% 5y · 1.31% fees
- #22
Balanced
Balanced Growth Fund
Anz Kiwisaver Scheme
Balanced · 4.59% 5y · 0.92% fees
- #23
Balanced
Balanced Growth Fund
Anz Default Kiwisaver Scheme
Balanced · 4.58% 5y · 0.92% fees
- #24
Balanced
Amp Moderate Balanced Fund
Amp Kiwisaver Scheme
Balanced · 4.48% 5y · 0.84% fees
- #25
Balanced
Amp Moderate Balanced Fund (Lifesteps)
Amp Kiwisaver Scheme
Balanced · 4.48% 5y · 0.84% fees
- #26
Balanced
Glidepath Age 55
Fisher Funds Two Kiwisaver Scheme
Balanced · 4.41% 5y · 0.96% fees
- #27
Balanced
Balanced Fund
Booster Kiwisaver Scheme
Balanced · 4.45% 5y · 1.31% fees
- #28
Balanced
Milford Kiwisaver Moderate Fund
Milford Kiwisaver Plan
Balanced · 4.29% 5y · 0.95% fees
- #29
Balanced
Balanced Fund
Fisher Funds Two Kiwisaver Scheme
Balanced · 4.22% 5y · 0.95% fees
- #30
Balanced
Moderate Fund
Generate Kiwisaver Scheme
Balanced · 4.20% 5y · 1.26% fees
- #31
Balanced
Balanced Strategy
Fisher Funds Kiwisaver Scheme
Balanced · 4.09% 5y · 1.00% fees
- #32
Balanced
Bnz Kiwisaver Moderate Fund
Bnz Kiwisaver Scheme
Balanced · 3.86% 5y · 0.45% fees
- #33
Balanced
Stepping Stones 61-64
Generate Kiwisaver Scheme
Balanced · 4.18% 5y · 1.26% fees
- #34
Balanced
Moderate Fund
Asb Kiwisaver Scheme
Balanced · 3.76% 5y · 0.60% fees
- #35
Balanced
Moderate Fund
Westpac Kiwisaver Scheme
Balanced · 3.57% 5y · 0.40% fees
- #36
Balanced
Moderate Fund
Mas Kiwisaver Scheme
Balanced · 3.74% 5y · 0.95% fees
- #37
Balanced
Amp Moderate Fund (Lifesteps)
Amp Kiwisaver Scheme
Balanced · 3.62% 5y · 0.84% fees
- #38
Balanced
Amp Moderate Fund
Amp Kiwisaver Scheme
Balanced · 3.62% 5y · 0.84% fees
- #39
Balanced
Responsible Moderate Fund
Mercer Kiwisaver Scheme
Balanced · 3.54% 5y · 0.66% fees
- #40
Balanced
Glidepath Age 60
Fisher Funds Kiwisaver Scheme
Balanced · 3.65% 5y · 0.98% fees
- #41
Conservative
Quaystreet Conservative Fund
Quaystreet Kiwisaver Scheme
Conservative · 3.60% 5y · 0.86% fees
- #42
Balanced
Balanced Fund
Anz Kiwisaver Scheme
Balanced · 3.60% 5y · 0.88% fees
- #43
Balanced
Balanced Fund
Anz Default Kiwisaver Scheme
Balanced · 3.59% 5y · 0.88% fees
- #44
Balanced
Lifestages Auto Option Age 60 - 64
Sbs Wealth Kiwisaver Scheme
Balanced · 3.56% 5y · 0.99% fees
- #45
Balanced
Amp Balanced Fund No. 4
Amp Kiwisaver Scheme
Balanced · 3.42% 5y · 0.85% fees
- #46
Conservative
Core Conservative Fund
Fisher Funds Kiwisaver Plan
Conservative · 3.16% 5y · 0.51% fees
- #47
Conservative
Quaystreet Income Fund
Quaystreet Kiwisaver Scheme
Conservative · 2.95% 5y · 0.87% fees
- #48
Conservative
Pathfinder Kiwisaver Conservative Fund
Pathfinder Kiwisaver Plan
Conservative · 3.00% 5y · 1.01% fees
- #49
Conservative
Bnz Kiwisaver First Home Buyer Fund
Bnz Kiwisaver Scheme
Conservative · 2.77% 5y · 0.45% fees
- #50
Conservative
Milford Kiwisaver Conservative Fund
Milford Kiwisaver Plan
Conservative · 2.88% 5y · 0.87% fees
- #51
Conservative
Cash Fund
Westpac Kiwisaver Scheme
Conservative · 2.58% 5y · 0.25% fees
- #52
Balanced
Conservative Fund
Westpac Kiwisaver Scheme
Balanced · 2.61% 5y · 0.40% fees
- #53
Conservative
Cash Fund
Fisher Funds Kiwisaver Plan
Conservative · 2.62% 5y · 0.45% fees
- #54
Conservative
Cash Fund
Anz Kiwisaver Scheme
Conservative · 2.52% 5y · 0.22% fees
- #55
Conservative
Cash Fund
Anz Default Kiwisaver Scheme
Conservative · 2.52% 5y · 0.22% fees
- #56
Conservative
Cash Fund
Mas Kiwisaver Scheme
Conservative · 2.53% 5y · 0.25% fees
- #57
Conservative
Conservative Fund
Asb Kiwisaver Scheme
Conservative · 2.56% 5y · 0.40% fees
- #58
Conservative
Cash Enhanced Fund
Fisher Funds Two Kiwisaver Scheme
Conservative · 2.60% 5y · 0.52% fees
- #59
Conservative
Milford Kiwisaver Cash Fund
Milford Kiwisaver Plan
Conservative · 2.47% 5y · 0.20% fees
- #60
Conservative
Conservative Fund
Fisher Funds Kiwisaver Plan
Conservative · 2.72% 5y · 0.87% fees
- #61
Conservative
Conservative Balanced Fund
Anz Kiwisaver Scheme
Conservative · 2.64% 5y · 0.73% fees
- #62
Conservative
Conservative Balanced Fund
Anz Default Kiwisaver Scheme
Conservative · 2.63% 5y · 0.73% fees
- #63
Conservative
Bnz Kiwisaver Cash Fund
Bnz Kiwisaver Scheme
Conservative · 2.45% 5y · 0.30% fees
- #64
Conservative
Glidepath Age 65
Fisher Funds Two Kiwisaver Scheme
Conservative · 2.67% 5y · 0.89% fees
- #65
Conservative
Defensive Conservative Fund
Westpac Kiwisaver Scheme
Conservative · 2.46% 5y · 0.40% fees
- #66
Conservative
Conservative Fund
Anz Default Kiwisaver Scheme
Conservative · 2.45% 5y · 0.42% fees
- #67
Conservative
Capital Guaranteed Fund
Booster Kiwisaver Scheme
Conservative · 2.68% 5y · 1.03% fees
- #68
Conservative
Cash Fund
Mercer Kiwisaver Scheme
Conservative · 2.37% 5y · 0.32% fees
- #69
Conservative
Conservative Fund
Booster Kiwisaver Scheme
Conservative · 2.39% 5y · 0.38% fees
- #70
Balanced
Socially Responsible Moderate Fund
Booster Kiwisaver Scheme
Balanced · 2.72% 5y · 1.21% fees
- #71
Conservative
Glidepath Age 75
Fisher Funds Kiwisaver Scheme
Conservative · 2.61% 5y · 0.94% fees
- #72
Conservative
Nz Cash Fund
Asb Kiwisaver Scheme
Conservative · 2.37% 5y · 0.35% fees
- #73
Conservative
Lifestages Auto Option Age 65+
Sbs Wealth Kiwisaver Scheme
Conservative · 2.60% 5y · 0.96% fees
- #74
Balanced
Amp Conservative Fund (Lifesteps)
Amp Kiwisaver Scheme
Balanced · 2.53% 5y · 0.84% fees
- #75
Balanced
Amp Conservative Fund
Amp Kiwisaver Scheme
Balanced · 2.53% 5y · 0.84% fees
- #76
Conservative
Amp Defensive Conservative Fund
Amp Kiwisaver Scheme
Conservative · 2.32% 5y · 0.49% fees
- #77
Balanced
Moderate Fund
Booster Kiwisaver Scheme
Balanced · 2.59% 5y · 1.20% fees
- #78
Conservative
Responsible Conservative Fund
Mercer Kiwisaver Scheme
Conservative · 2.30% 5y · 0.49% fees
- #79
Conservative
Bnz Kiwisaver Conservative Fund
Bnz Kiwisaver Scheme
Conservative · 2.26% 5y · 0.45% fees
- #80
Conservative
Conservative Fund
Fisher Funds Two Kiwisaver Scheme
Conservative · 2.35% 5y · 0.88% fees
- #81
Conservative
Glidepath Age 75
Fisher Funds Two Kiwisaver Scheme
Conservative · 2.34% 5y · 0.86% fees
- #82
Conservative
Preservation Fund
Fisher Funds Two Kiwisaver Scheme
Conservative · 2.21% 5y · 0.61% fees
- #83
Conservative
Conservative Fund
Mas Kiwisaver Scheme
Conservative · 2.30% 5y · 0.85% fees
- #84
Conservative
Conservative Fund
Fisher Funds Kiwisaver Scheme
Conservative · 2.33% 5y · 0.93% fees
- #85
Conservative
Asset Class Conservative Fund
Booster Kiwisaver Scheme
Conservative · 2.35% 5y · 1.24% fees
- #86
Conservative
Amp Cash Fund
Amp Kiwisaver Scheme
Conservative · 2.10% 5y · 0.65% fees
- #87
Conservative
Enhanced Cash Fund
Booster Kiwisaver Scheme
Conservative · 2.01% 5y · 0.87% fees
- #88
Conservative
Conservative Fund
Simplicity Kiwisaver Scheme
Conservative · 1.75% 5y · 0.25% fees
- #89
Balanced
Amp Conservative Fund No. 2
Amp Kiwisaver Scheme
Balanced · 1.87% 5y · 0.84% fees
- #90
Conservative
Conservative Fund
Anz Kiwisaver Scheme
Conservative · 1.76% 5y · 0.60% fees
- #91
Conservative
Quaystreet Fixed Interest Fund
Quaystreet Kiwisaver Scheme
Conservative · 1.80% 5y · 0.86% fees
- #92
Balanced
Global Select Conservative Fund
Amp Kiwisaver Scheme
Balanced · 1.86% 5y · 1.08% fees
- #93
Conservative
Cashplus Fund
Fisher Funds Kiwisaver Plan
Conservative · 1.65% 5y · 0.68% fees
- #94
Conservative
Kernel Cash Plus Fund
Kernel Kiwisaver Plan
Conservative · 0.00% 5y · 0.25% fees
- #95
Conservative
Defensive Fund
Simplicity Kiwisaver Scheme
Conservative · 0.00% 5y · 0.25% fees
- #96
Conservative
Kernel Conservative Fund
Kernel Kiwisaver Plan
Conservative · 0.00% 5y · 0.25% fees
- #97
Balanced
Default Fund
Simplicity Kiwisaver Scheme
Balanced · 0.00% 5y · 0.25% fees
- #98
Balanced
Kernel Balanced Fund
Kernel Kiwisaver Plan
Balanced · 0.00% 5y · 0.25% fees
- #99
Conservative
Kernel Us Bond Fund
Kernel Kiwisaver Plan
Conservative · 0.00% 5y · 0.30% fees
- #100
Balanced
Default Saver Fund
Booster Kiwisaver Scheme
Balanced · 0.00% 5y · 0.35% fees
- #101
Balanced
Bnz Kiwisaver Default Fund
Bnz Kiwisaver Scheme
Balanced · 0.00% 5y · 0.35% fees
- #102
Balanced
Default Fund
Fisher Funds Kiwisaver Plan
Balanced · 0.00% 5y · 0.37% fees
- #103
Conservative
Kernel Nz Bond Fund
Kernel Kiwisaver Plan
Conservative · 0.00% 5y · 0.40% fees
- #104
Balanced
Default Balanced Fund
Westpac Kiwisaver Scheme
Balanced · 0.00% 5y · 0.40% fees
- #105
Conservative
Sbs Wealth Cash Fund
Sbs Wealth Kiwisaver Scheme
Conservative · 0.00% 5y · 0.45% fees
- #106
Conservative
Sbs Wealth Income Fund
Sbs Wealth Kiwisaver Scheme
Conservative · 0.05% 5y · 0.87% fees
- #107
Conservative
Glidepath Age 75
Fisher Funds Kiwisaver Plan
Conservative · 0.00% 5y · 0.84% fees
- #108
Conservative
Cashplus Fund
Generate Kiwisaver Scheme
Conservative · 0.00% 5y · 0.91% fees
- #109
Conservative
Glidepath Age 65
Fisher Funds Kiwisaver Plan
Conservative · 0.00% 5y · 0.91% fees
- #110
Balanced
Glidepath Age 55
Fisher Funds Kiwisaver Plan
Balanced · 0.00% 5y · 1.11% fees
- #111
Conservative
Stepping Stones 76+
Generate Kiwisaver Scheme
Conservative · 0.00% 5y · 1.21% fees
- #112
Conservative
Conservative Fund
Generate Kiwisaver Scheme
Conservative · 0.00% 5y · 1.21% fees
- #113
Conservative
Stepping Stones 65-75
Generate Kiwisaver Scheme
Conservative · 0.00% 5y · 1.23% fees
- #114
Conservative
Milford Conservative Fund
Amp Kiwisaver Scheme
Conservative · 0.00% 5y · 1.33% fees
- #115
Balanced
Balanced Fund
Generate Kiwisaver Scheme
Balanced · 0.00% 5y · 1.36% fees
- #116
Balanced
Milford Balanced Fund
Amp Kiwisaver Scheme
Balanced · 0.00% 5y · 1.43% fees
- #117
Conservative
Amp Global Fixed Interest Fund
Amp Kiwisaver Scheme
Conservative · -0.57% 5y · 0.84% fees
- #118
Conservative
Amp Nz Fixed Interest Fund
Amp Kiwisaver Scheme
Conservative · -0.71% 5y · 0.86% fees
Need a personal take?
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Our directory covers every NZ KiwiSaver fund. Our advice panel is five schemes (ANZ, Booster, Fisher Funds, Generate, Milford); recommendations land on four funds across Milford and Booster — how we're paid →
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