Compare Mercer KiwiSaver
If you’re considering opening a KiwiSaver fund with Mercer, check out Canstar’s latest Star Ratings for its products.
Types of Mercer KiwiSaver funds
Mercer offers you a choice of seven different investment portfolios for your KiwiSaver funds, ranging from conservative to high-growth, which combine differing amounts of ‘growth’ assets (such as shares and property) and ‘defensive’ assets (such as cash and bonds). Regardless of which portfolio you choose, you’ll get value for money; Mercer’s KiwiSaver scheme has been awarded a Platinum value rating for the past three years by research group SuperRatings. Its investment options are:
|Portfolio Name||Risk assessment||Asset allocation|
|Mercer Shares||Very high||100% Growth (NZ and global shares)|
|Mercer High Growth||High||90% Growth, 10% Defensive|
|Mercer Growth||Medium to high||75% Growth, 10% Defensive|
|Mercer Balanced||Medium||55% Growth, 45% Defensive|
|Mercer Moderate||Low to medium||35% Growth, 65% Defensive|
|Mercer Conservative||Low||20% Growth, 80% Defensive|
|Mercer Cash||Very low risk||100% Defensive (Cash assets)|
Eligibility to open a Mercer 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)
- Over the age of 18
- Living or normally living in New Zealand
- A New Zealand citizen, or entitled to live in New Zealand indefinitely
How to open a Mercer KiwiSaver account
If you’d like to open a new Mercer KiwiSaver account, there are several ways to apply. You can apply online on the Mercer website; call Mercer on 0508 MERCER (0508 637 237) Monday to Friday; or download the application form on the back of the PDS and mail it back. When applying online, you will need:
- A valid NZ Drivers licence
- IRD number
Yes, you can log in to your Mercer account using the link on the Mercer website, where you can manage your investment portfolio, monitor your balance, invest money or apply for a withdrawal.
Your money is invested using the investment portfolios outlined above – you can select up to seven different portfolios to invest your money in, allocating a certain percentage to each.
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. Mercer functions as the administration manager and investment advisor for your KiwiSaver fund.
You can transfer all of your existing KiwiSaver balance into your new Mercer account. Once you open a Mercer KiwiSaver account, Mercer 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 being likely to experience significant financial hardship
- Having a serious illness or injury
Mercer has been looking after the investments and retirement savings of New Zealanders for over 55 years. The company manages over AUD$20 billion in funds, and is constantly on the lookout for the best investment strategies. Mercer employs more than 100 staff to track over 5,400 fund managers and more than 26,000 investment strategies worldwide, in an effort to pick the best possible investment options with which to construct its own products.
Mercer provides complimentary financial advice to KiwiSaver customers, along with SaverProtect insurance, which provides KiwiSaver contributions of up to $200 per month if you are unable to work due to illness, injury or redundancy.