We were extremely happy to learn that Milford KiwiSaver Plan members are still the most satisfied KiwiSaver members. For the fourth year in a row the Milford KiwiSaver Plan has been named the Consumer NZ People’s Choice KiwiSaver Plan.
Milford KiwiSaver Plan members came out on top of the 2021 Consumer NZ survey, with 85% overall satisfaction. The average satisfaction rating across the KiwiSaver industry was a poor 55%, with the lowest provider scoring just 43% overall satisfaction.
We were very pleased to see our members scored us highly for access to your account information (93%) and keeping you up to date about your KiwiSaver (84%). We have worked particularly hard over the past year to continue improving how we communicate with you, and what we communicate, as well as improving our client portal and mobile App.
Rest assured we’ll be striving to do even better in the coming year.
We’ve removed the Annual Member Administration Fee
And the good news continues with the removal of the Annual Member Administration Fee for all Milford KiwiSaver Plan members from 1 July 2021.
You might recall in September 2019 we removed this administration fee for members aged under 21 and 65 and over. In January this year we also reduced the fee from $36 per year to $18 for all other members.
We have now removed this fee altogether as we continue to grow our KiwiSaver membership, and we are delighted to share the benefits of this with you, our members.
We continually reinvest a portion of the fees you pay into improving your client experience and maintaining our award-winning investment returns and member service. Some examples of this over the past year are our online KiwiSaver Digital Advice, Forecast My Balance and Spend My KiwiSaver tools, improvements to our client portal and mobile App, livestream events and continuing to add expertise to our investment team in both Auckland and Sydney.
We thank you for your ongoing support of Milford. We will continue to regularly review our fees and aim to further improve our ongoing service to you.