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SuperLife KiwiSaver Review (2026)
SuperLife is a low-fee, index-tracking KiwiSaver scheme managed by Smartshares, with over $15 billion managed across 40+ funds and a 2025 Canstar Outstanding Value award.
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Brent Coleman
What is SuperLife?
SuperLife is managed by Smartshares Limited, the same manager behind the Smart ETF platform and the QuayStreet KiwiSaver Scheme. Smartshares is a wholly owned subsidiary of NZX Limited, which operates the New Zealand stock exchange. SuperLife and Smart have been helping New Zealanders invest since 1996.
Scale
- 160,000+ investors
- 40+ funds across the range
- $15 billion+ managed on behalf of investors
- 25+ years supporting investors
What can you invest in?
- SuperLife KiwiSaver Scheme: a low-fee, long-term, index-tracking scheme. It won Canstar's Outstanding Value KiwiSaver Scheme Award 2025, along with category wins for Best Balanced Funds and Best Conservative Funds.
- SuperLife Invest: a non-KiwiSaver range of diversified and sector funds, with no minimum investment and a fund mix you can fully customise.
- SuperLife Workplace Savings Scheme: a retirement savings scheme that employers offer as a staff benefit, using the same fund range as SuperLife Invest.
Fees
KiwiSaver fund charges by fund type:
| Fund type | Fee (p.a.) |
|---|---|
| SuperLife Default Fund | 0.20% (cheapest in the range) |
| Diversified funds (Income, Conservative, Balanced, Growth, High Growth) | 0.56% to 0.63% |
| Age Steps funds, which set your mix by age (20 to 80) | 0.56% to 0.63% |
| Ethica Fund (ethical) | 0.70% |
| NZ, Australian, US and global sector/index funds | 0.49% to 0.73% |
| Castle Point 5 Oceans Fund (guest manager) | 1.39% (most expensive in the range) |
On top of the fund charge, you pay an administration fee that depends on the product:
| Product | Administration fee |
|---|---|
| SuperLife KiwiSaver Scheme | $30 a year ($2.50 a month); waived if 100% invested in the Default Fund |
| SuperLife Invest | $12 a year flat |
| SuperLife Workplace Savings Scheme | $12 a year flat; $50 transfer-out fee only if leaving for a different KiwiSaver provider |
Ownership
SuperLife is managed by Smartshares Limited, a wholly owned subsidiary of NZX Limited. Smartshares also runs the Smart ETF platform and the QuayStreet KiwiSaver Scheme.
The bottom line
SuperLife is a large, long-established index-tracking KiwiSaver scheme backed by NZX's Smartshares business, with Canstar's 2025 Outstanding Value award to its name. Its Default Fund, at 0.20% p.a., is the cheapest of the six government-appointed default funds.