BT KiwiSaver

BT Funds Management is the New Zealand investment arm of Westpac, offering Kiwisaver and managed fund products.

Compare BT KiwiSaver

If you’re considering opening a KiwiSaver fund with BT, check out Canstar’s latest Star Ratings for its products.

Compare KiwiSaver funds

Types of BT KiwiSaver funds

BT offers 6 different investment funds for you to choose from. These funds contain varying mixes of assets, with cash and fixed-interest bonds (‘Income’ assets) making up more (or all) of the conservative funds, and equities (‘Growth’ assets) making up more of the growth funds. The key stats for each fund are as follows:

Fund Name Asset Mix Annual fees
Cash Fund 100% Cash and cash equivalents 0.44% p.a.
Default Fund 20% Growth, 80% Income 0.54% p.a.
Conservative Fund 25% Growth, 75% Income 0.73% p.a.
Moderate Fund 40% Growth, 60% Income 0.80% p.a.
Balanced Fund 60% Growth, 40% Income 0.87% p.a.
Growth Fund 80% Growth, 20% Income 0.94% p.a.


In addition to each fund’s management fees, your KiwiSaver account also incurs an administration fee of $27 per annum ($2.25 a month), which is deducted from your account with the highest current balance.

Eligibility to open a BT KiwiSaver account

You are eligible to join the KiwiSaver scheme if you are:

  • Younger than the qualifying age for New Zealand superannuation (currently age 65)
  • Living or normally living in New Zealand
  • A New Zealand citizen, or entitled to live in New Zealand indefinitely

If you’re over the age of 65, you can only join BT KiwiSaver if you already belong to another KiwiSaver scheme.

How to open a BT KiwiSaver account

If you’d like to open a new BT KiwiSaver account, you can apply online on the BT website.

BT KiwiSaver FAQs

Yes. You can log in to your BT account by heading to the BT KiwiSaver website and logging into online banking. Here you can manage your investment portfolio, monitor your balance, invest money or apply for a withdrawal.

You can invest your money in one or more of the six investment fund options outlined above – keep in mind that each is tailored to a different risk profile, with lower risk funds generally providing lower returns and higher risk making it possible to achieve higher returns. Additionally, each investment option comes with a different annual fee.

Since KiwiSaver is an initiative of the New Zealand Government, your funds are held by the New Zealand Guardian Trust Company (a government-owned company) on your behalf. BT functions as the administration manager and investment advisor for your KiwiSaver fund.

Compare KiwiSaver funds

You can transfer all of your existing KiwiSaver balance into your new BT account. Once you open a BT KiwiSaver account, BT will automatically transfer your balance from your old provider to your new account. Your old scheme provider may charge you a transfer fee – contact your previous provider for further information.

The main purpose of the KiwiSaver scheme is to save for retirement, so you are able to withdraw money once you reach the KiwiSaver retirement age of 65 years. There are also several circumstances when you can withdraw money earlier, which are:

  • Buying your first home
  • Permanently moving to another country
  • Experiencing or are likely to experience significant financial hardship
  • Having a serious illness or injury

BT is the New Zealand investment arm of Westpac Banking Group, and currently manages more than $10 billion in funds as of mid-2017. BT takes a multi-manager approach to wealth management, and has created a diverse array of managed funds spread across multiple asset classes to reduce risk and improve long-term returns.

BT Funds Management (NZ) Ltd - Westpac KiwiSaver Scheme ‐ Cash Fund

Canstar Research
Award: 4 Star Ratings Kiwisaver Fund

Written by: Sam Bloom | Last updated: October 12, 2018