Lessons From Consumer NZ’s Latest KiwiSaver Satisfaction Survey
With more than $120 billion invested in KiwiSaver, choosing the right provider has become one of the most important financial decisions New Zealanders make.
While investment returns often grab the headlines, Consumer NZ’s latest customer satisfaction survey highlights another factor that deserves attention: member experience.
Why customer satisfaction matters in KiwiSaver
KiwiSaver is a long-term investment. Most members will remain with their provider for years, if not decades.
During that time, members may need support understanding their investment options, choosing the right fund, increasing contributions, navigating market volatility, or planning for retirement.
A provider’s ability to communicate clearly, offer quality advice and deliver a positive member experience can have a significant impact on how confident investors feel about their financial future.
That’s why customer satisfaction surveys can provide valuable insight alongside traditional measures such as performance and fees.
What the latest Consumer NZ survey found
Consumer NZ’s 2026 customer satisfaction survey included feedback from 1,958 New Zealand adults and assessed how satisfied people were with their KiwiSaver providers.
The survey found the average customer satisfaction rating across the industry was 62%.
However, some providers stood out from the crowd.
Generate achieved a customer satisfaction rating of 90%, well ahead of the second place winners at just 75% satisfaction and significantly ahead of the industry average score of 62%.
Source: Consumer NZ People’s Choice Awards 2026 KiwiSaver satisfaction survey. Satisfaction scores represent the percentage of members who reported being “very satisfied” with their KiwiSaver provider. See more at https://www.consumer.org.nz/money/personal-finance/best-and-worst-kiwisaver-providers
Interestingly, the highest-rated providers were all specialist investment managers rather than large banking institutions. Most of the major banks ranked closer to the industry average or below.
The results suggest that many KiwiSaver members place significant value on the quality of service, support and engagement they receive from their provider.
What should investors look for in a KiwiSaver provider?
Customer satisfaction is only one piece of the puzzle, but it can help investors identify providers that consistently deliver a positive experience.
When comparing KiwiSaver providers, investors may wish to consider:
Long-term investment performance
Past performance does not guarantee future returns, but a strong long-term track record can indicate a disciplined and consistent investment approach.
Customer satisfaction
Independent customer satisfaction surveys provide insight into how existing members feel about their provider’s service, communication and support.
Access to advice
For many people, KiwiSaver can be complex. Access to personalised advice may help members better understand their options and make informed decisions.
Communication and education
Good providers help members stay informed and understand what is happening with their investments, particularly during periods of market volatility.
Fees and value
Fees are important, but they should be considered alongside value – performance, service and support.
Digital tools and accessibility
Online access, mobile apps and easy-to-understand reporting can help members stay engaged with their retirement savings.
Why customer experience matters more than ever
As KiwiSaver balances continue to grow, many New Zealanders are paying closer attention to who manages their money.
The providers that stand out are often those that combine strong investment management with a commitment to helping members understand and engage with their savings journey.
Generate Chief Executive Officer Henry Tongue believes the latest survey results reflect the importance of putting members at the centre of every decision.
“Winning the Consumer NZ People’s Choice Award for the sixth time is incredibly special because it comes directly from KiwiSaver members themselves,” says Tongue.
“To achieve a 90% satisfaction rating is something we’re immensely proud of. It reflects the trust our members place in us every day, and the hard work our team puts into delivering great performance, service, communication and advice.”
The bottom line
Choosing a KiwiSaver provider is about more than just chasing returns.
A provider’s ability to support, educate and communicate with its members can play an important role in helping investors feel confident about their financial future.
The latest Consumer NZ survey provides a useful reminder that customer satisfaction remains an important measure of quality in the KiwiSaver industry. For investors reviewing their KiwiSaver provider, it may be worth considering not only how their money is being invested, but also who is helping guide them on their journey towards retirement.
How is the Consumer NZ People’s Choice award decided?
Consumer NZ’s People’s Choice Awards are based on independent customer satisfaction research conducted with a nationally representative sample of New Zealanders. In 2026, the survey included 1,958 adults across Aotearoa.
About Generate: Generate is an award-winning New Zealand owned KiwiSaver and Managed Fund provider managing over $9 billion on behalf of more than 190,000 New Zealanders. With a team of specialist advisers and track record of strong long-term performance, Generate aims to educate and empower Kiwis to make informed decisions and build a stronger financial future.
No part of this article is intended as financial advice; it is intended as general information only. To see our Financial Advice Provider Disclosure Statement, please see Generate FAP Disclosure Statement. For more information see the Generate KiwiSaver Scheme Product Disclosure Statement or the Generate Unit Trust Scheme (Managed Funds) Product Disclosure Statement or the fund updates for KiwiSaver and for Managed Funds. The issuer of both schemes is Generate Investment Management Limited. Past performance is not indicative of future performance.
