As part of our continued focus on enhancing our members’ investment experience, MAS has made some fee changes to the MAS KiwiSaver Scheme and MAS Retirement Savings Scheme (the ‘Schemes’).  

We’ve reduced our manager’s fee 

We carry out regular reviews of our fees. As a result of the latest review, we have reduced the manager’s fee on all Funds across both Schemes. These fee changes took effect on 1 November 2023.  

The table below shows the impact that the reduced manager’s fee will have on the total fund charges and the overall estimated percentage reduction for each Fund. 

Total annual fund charges (estimated % of net asset value) 




Global Equities 





















Removal of the minimum annual manager’s fee for the MAS KiwiSaver Scheme 

From 1 October 2023, we have removed the minimum quarterly manager’s fee of $12.50 ($50 per annum) for members of the MAS KiwiSaver Scheme who are aged 25 or over, to help make it easier to save. This fee has always been waived for under 25s. 

Further information 

You can find more information about the fees and charges for your Scheme in the Product Disclosure Statements (PDS) available here MAS KiwiSaver Scheme and MAS Retirement Savings Scheme. Medical Funds Management Limited is the issuer and manager of each of those Schemes. 

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