SuperLife is one of New Zealand’s longest-standing independent KiwiSaver providers, offering a wide range of low-cost index funds. It sits alongside Simplicity and Kernel as one of the best options for cost-conscious investors who want passive investment exposure.
SuperLife at a Glance
| Feature | Details |
|---|---|
| Provider type | Independent (owned by Smartshares/NZX) |
| Investment approach | Predominantly passive (index tracking) |
| Number of funds | 40+ investment options |
| Management fee | ~0.30–0.60% depending on fund |
| Annual membership fee | ~$12/year (very low fixed fee) |
| Default fund | Balanced (SuperLife 60) |
| Ethical options | Limited exclusions available |
| Online management | Yes — full online portal and app |
Who Is SuperLife?
SuperLife is owned by Smartshares, a subsidiary of NZX (the New Zealand Stock Exchange). Smartshares operates a range of NZ ETFs, and SuperLife’s KiwiSaver funds invest through these ETFs — giving members exposure to diversified index funds at low cost.
This structure is important: SuperLife members are essentially investing through NZX-listed ETFs via a PIE wrapper. It’s one of the most transparent investment structures in NZ KiwiSaver.
SuperLife Fund Range
SuperLife offers an unusually broad fund range compared to other NZ KiwiSaver providers. Members can choose from:
Age-stepped funds (most popular)
SuperLife’s “Age Steps” funds automatically adjust asset allocation based on your age — similar to a lifecycle fund approach. Examples:
| Fund | Growth/income split (approx.) | Annual fee (approx.) |
|---|---|---|
| SuperLife 100 | 100% growth | 0.48% |
| SuperLife 80 | 80/20 | 0.47% |
| SuperLife 60 | 60/40 (Balanced) | 0.45% |
| SuperLife 40 | 40/60 | 0.43% |
| SuperLife 20 | 20/80 (Conservative) | 0.41% |
| SuperLife Income | ~0% growth | 0.37% |
Single-sector funds
Members can build a custom portfolio from single-sector funds:
- NZ Shares (NZX 50)
- Australian Shares
- US Shares (S&P 500)
- International Shares
- Property
- Bonds
This level of customisation is rare among NZ KiwiSaver providers. Most offer 4–6 funds; SuperLife offers 40+.
SuperLife Fees
SuperLife’s fee structure:
- Annual membership fee: ~$12/year (very low — ~$1/month)
- Management fee: ~0.37–0.60% depending on fund
- No performance fees
- No switch fees
Total cost comparison (SuperLife 100 growth fund vs competitors):
| Provider | Growth fund fee (approx.) |
|---|---|
| Kernel Global 100 | ~0.25% + $60/yr flat |
| Simplicity Growth | 0.31% + $30/yr |
| SuperLife 100 | ~0.48% + $12/yr |
| BNZ Growth | ~0.50% |
| ANZ Growth | ~1.06% |
SuperLife is competitive but sits slightly above Simplicity and Kernel for the pure growth allocation. The $12/year fixed fee is the lowest in NZ.
SuperLife Performance
As an index-tracking provider, SuperLife’s returns closely mirror the underlying market indices. You won’t outperform the index (by design), but you also won’t significantly underperform.
Approximate historical returns (SuperLife growth-oriented funds):
- 5-year (annualised to 2025): ~8–10% for high-growth options
- 10-year: ~9–11% for growth funds
These figures are comparable to other passive KiwiSaver funds and ahead of most actively managed options after fees.
Past returns do not guarantee future performance.
Ethical and Sustainable Options
SuperLife has basic ethical exclusions in its standard funds (cluster munitions, tobacco) but does not offer a dedicated ESG or ethical fund with rigorous screens. Members seeking genuine ethical investing in KiwiSaver should consider Pathfinder or Simplicity (which has stronger exclusions).
Who Is SuperLife Suited To?
Good fit for:
- Cost-conscious investors who want passive, index-tracking exposure
- Members who want to customise their allocation across sectors
- Members comfortable managing their account online without branch support
- Members who want the widest fund choice in NZ KiwiSaver
May not suit:
- Members who want active management (Milford, Fisher Funds, Generate)
- Members seeking rigorous ethical screening (Pathfinder)
- Members who prefer face-to-face or phone support from a bank
- Members with very small balances for whom the $12/year fee is proportionally significant (though $12 is far cheaper than most alternatives)
How to Join SuperLife
SuperLife is available directly online at superlife.co.nz. You can also switch to SuperLife from another provider online — the transfer takes 10–15 business days.
If you’re auto-enrolled at a new job and haven’t chosen a provider, you can select SuperLife directly by completing their enrolment form before your employer starts deductions.
SuperLife vs Simplicity vs Kernel
| Feature | SuperLife | Simplicity | Kernel |
|---|---|---|---|
| Management fee (growth) | ~0.48% | 0.31% | ~0.25% |
| Fixed annual fee | $12 | $30 | $60 |
| Fund range | 40+ | 4 | ~8 |
| Ethical options | Basic exclusions | Light exclusions | None |
| Best for | Customisation, low fixed fee | Lowest management fee, simplicity | Lowest % fee, tech-forward |