Booster is one of New Zealand’s six default KiwiSaver providers — a distinction earned in the 2021 RBNZ review that eliminated ANZ, ASB, and Westpac from default status. That designation matters: default providers must meet higher standards for value, engagement, and fund quality than the general market.
Beyond its default status, Booster has carved out a distinctive position in the NZ KiwiSaver market through its Socially Responsible fund range, its MyBooster digital platform, and an active management philosophy that sits between pure index investing and concentrated stock-picking.
This review covers Booster’s fees, funds, performance track record, and who it suits.
Booster at a Glance
| Feature | Detail |
|---|---|
| Provider type | Independent (NZ-owned) |
| Default provider | Yes (since 2007; retained in 2021 review) |
| Management style | Active (with passive options) |
| Funds available | 10+ (including Socially Responsible range) |
| Annual management fee | 0.36%–1.19% (fund dependent) |
| Administration fee | ~$30/year |
| Ethical/SRI option | Yes — dedicated Socially Responsible fund range |
| Digital platform | MyBooster app and online portal |
| Mindful Money rating | Strong (Socially Responsible funds) |
Booster’s Fund Range
Booster offers more fund variety than most providers, spanning conventional and socially responsible options:
Conventional funds
| Fund | Asset allocation | Estimated annual fee |
|---|---|---|
| Booster Cash | 100% cash/fixed interest | ~0.36% |
| Booster Conservative | ~30% growth / 70% income | ~0.49% |
| Booster Moderate | ~50% growth / 50% income | ~0.55% |
| Booster Balanced | ~65% growth / 35% income | ~0.65% |
| Booster Growth | ~80% growth / 20% income | ~0.75% |
| Booster High Growth | ~95% growth / 5% income | ~0.80% |
Socially Responsible funds
| Fund | Asset allocation | Estimated annual fee |
|---|---|---|
| Booster Socially Responsible Conservative | ~30% growth / 70% income | ~0.64% |
| Booster Socially Responsible Balanced | ~65% growth / 35% income | ~0.89% |
| Booster Socially Responsible Growth | ~80% growth / 20% income | ~0.99% |
| Booster Glidepath | Age-based (automatic) | Varies |
Fees are indicative. Confirm current fees with Booster directly at booster.co.nz before making a decision.
Glidepath fund
Booster’s Glidepath fund is an age-based default option that automatically adjusts its asset allocation as you age — reducing growth assets and increasing income assets as you approach retirement. This is Booster’s default fund for new members who don’t make an active fund selection.
Glidepath is similar in concept to lifecycle funds offered by some other providers, but Booster’s implementation is more granular, with the glide path continuing to adjust well into retirement.
Fees: How Booster Compares
Booster’s conventional fund fees are competitive in the mid-market range — above the lowest-cost providers (Simplicity, BNZ) but below the highest-charging active managers (Fisher Funds, the full-active Milford approach).
| Provider | Growth fund fee (approx.) |
|---|---|
| Simplicity | 0.31% |
| BNZ | ~0.35% |
| Summer (ex-Kiwibank) | ~0.49% |
| Booster (conventional) | ~0.75% |
| Booster (Socially Responsible) | ~0.99% |
| Milford | ~0.85%–1.05% |
| Fisher Funds | ~1.05%–1.45% |
For a full comparison across all providers, see our KiwiSaver fees comparison.
Administration fee impact
Booster charges approximately $30/year in administration fees on top of the percentage-based management fee. For members with smaller balances (under $10,000), the flat fee has a proportionally larger impact. At a $5,000 balance, $30 equates to an additional 0.60% effectively — something to factor in for younger members early in their career.
Fee impact over time
The compounding effect of a 0.75% vs 0.31% fee on a $50,000 balance over 20 years:
| Fee rate | Projected balance (7% gross return) | Total fees paid |
|---|---|---|
| 0.31% (Simplicity) | ~$175,000 | ~$12,000 |
| 0.75% (Booster Growth) | ~$158,000 | ~$28,000 |
| 0.99% (Booster SRI Growth) | ~$150,000 | ~$36,000 |
Illustrative only. Actual returns depend on fund performance, which may differ significantly from the assumed rate.
Socially Responsible Investing: Booster’s Point of Difference
Booster’s Socially Responsible (SRI) fund range is one of its primary differentiators. The SRI funds screen investments using:
- Negative screening: Excludes companies involved in tobacco, weapons, gambling, fossil fuels, and other ESG red flags
- Positive screening: Tilts towards companies with strong environmental, social, and governance profiles
- Engagement: Booster actively engages with companies on ESG issues rather than simply divesting
Booster reports SRI fund holdings on its website and has received strong Mindful Money ratings — the NZ benchmark for ethical investment transparency.
The trade-off: The SRI funds are approximately 0.24% more expensive per year than the equivalent conventional Booster fund. Whether the values alignment is worth the additional cost is a personal decision.
For a full comparison of ethical KiwiSaver options across all providers, see our ethical KiwiSaver providers comparison.
MyBooster: Digital Platform
Booster’s MyBooster app and online portal are among the better digital experiences in the KiwiSaver market. Key features:
- Balance tracking: Current balance, contributions, and returns displayed clearly
- Fund switching: Change your fund online in minutes
- Contribution management: Adjust voluntary contributions directly
- Retirement projections: Simple projection tool showing estimated balance at 65 under different scenarios
- Glidepath visualisation: See how your asset allocation will change over time
The platform is well-regarded for clarity and accessibility, particularly compared to some bank-based providers where KiwiSaver functionality is buried within broader banking apps.
Default Provider Status: What It Means
Booster was one of six providers selected in the 2021 government review of default KiwiSaver providers. Default providers receive members who are automatically enrolled (usually new employees who don’t actively choose a provider).
To qualify as a default provider, Booster had to demonstrate:
- Competitive fees relative to funds offered
- Quality investment governance
- Adequate member engagement and communication
- A balanced default fund appropriate for most members
The fact that ANZ, ASB, and Westpac were removed while Booster was retained speaks to the relative value proposition Booster offers compared to major bank providers. The six default providers retained in 2021 were: BNZ, Booster, Generate, Milford, Simplicity, and SuperLife.
Performance
Booster does not publish historical returns on a front-page basis, but returns are available through the FMA KiwiSaver Tracker and third-party tools like Morningstar and Sorted.
General observations (not a guarantee of future performance):
- Booster’s Growth fund has tracked reasonably closely with the broader market, consistent with its blended active/passive approach
- The Socially Responsible Growth fund has performed comparably to conventional growth funds over recent periods, dispelling the common assumption that ethical investing necessarily means lower returns
- Active management within Booster’s funds is moderate rather than high-conviction, meaning returns tend to stay close to the benchmark
For current and historical performance data, see our KiwiSaver fund performance comparison.
Who Is Booster Best Suited For?
Booster is a strong choice if:
- You want a credible ethical/socially responsible option with transparent screening
- You’re a default enrolee who has never actively chosen a provider — Booster is a reasonable default
- You want digital tools better than most bank providers offer
- You’re comfortable with fees in the mid-market range
Booster may not be the best choice if:
- Minimising fees is your primary goal — Simplicity or BNZ offer lower-cost alternatives
- You want a concentrated active manager with a strong conviction-based approach (consider Milford)
- You want a 100% passive index fund strategy (consider Simplicity or Kernel)
- Your balance is small (under $5,000) and the flat admin fee is proportionally significant
Booster vs Other Default Providers
| Provider | Growth fee | Management style | Ethical option | Digital tools |
|---|---|---|---|---|
| BNZ | ~0.35% | Passive-leaning | YouChoose overlay | Basic |
| Booster | ~0.75% | Active/blended | Dedicated SRI range | Strong (MyBooster) |
| Generate | ~0.97% | Active | ESG integrated | Good |
| Milford | ~0.85%–1.05% | Active | ESG integrated | Good |
| Simplicity | 0.31% | Passive (index) | ESG integrated | Good |
| SuperLife | ~0.40%–0.75% | Passive/active mix | Dedicated ethical fund | Good |
Switching To or From Booster
Switching to Booster is straightforward — you can do it through the MyBooster app or website. Your new provider handles the transfer process, which takes approximately 10–35 business days.
What carries over when you switch: Your full balance, your membership history (eligibility clock continues), and all KiwiSaver entitlements including first home withdrawal eligibility.
What doesn’t carry over: Your fund type (you choose a new fund at Booster), and any existing voluntary contribution arrangements (you set these up fresh with Booster).
For a full guide on the process, see our switching KiwiSaver providers guide.
Frequently Asked Questions
Is Booster a good KiwiSaver provider? Booster is a solid mid-market option, particularly strong for members who value ethical investment screening and want digital tools above what bank providers offer. Fees are moderate — not the lowest, but not the highest. Default provider status indicates it has passed quality standards the major banks (ANZ, ASB, Westpac) did not retain.
What is Booster’s default fund? Booster uses its Glidepath fund as the default for new members who don’t make an active selection. Glidepath automatically adjusts asset allocation by age — starting growth-heavy and becoming more conservative as retirement approaches.
Does Booster have an ethical KiwiSaver option? Yes. Booster’s Socially Responsible fund range is one of the more comprehensive ethical options in the NZ KiwiSaver market. The SRI funds apply both negative screening (excluding harmful industries) and positive ESG scoring, and Booster discloses holdings transparently.
How do Booster’s fees compare? Booster’s conventional funds cost approximately 0.36%–0.80% (plus ~$30 flat fee) and are mid-market. The SRI funds are 0.64%–0.99%. Cheaper options include Simplicity (0.31%) and BNZ (0.30%–0.50%). See our KiwiSaver fees comparison for a full table.
Can I switch from Booster to another provider? Yes, at any time and at no cost. KiwiSaver members can switch providers freely. Your balance and membership history are fully preserved. See our switching providers guide for how the process works.
What to Read Next
- Best KiwiSaver Providers NZ — full provider comparison hub
- KiwiSaver Fees Comparison — full fee table across all providers
- Simplicity KiwiSaver Review — the lowest-cost provider
- Milford KiwiSaver Review — active management at a comparable price point
- Switching KiwiSaver Providers — how to move to or from Booster
- Ethical KiwiSaver Providers Compared — ESG options across all providers
- KiwiSaver Fund Types Explained — choosing the right fund type