How do Pathfinder and Simplicity compare on fees?

Pathfinder's funds carry an average annual fee of 1.25% compared with 0.25% at Simplicity. Illustrative — sub-1-percentage-point fee gaps compound over multi-decade horizons. Compare net-fee return as well as fee level — see the side-by-side data above.

What are the 5-year returns for Pathfinder vs Simplicity?

Based on 5-year average annualised returns from FMA Disclose data, Pathfinder shows 3.26% across its KiwiSaver scheme fund range, and Simplicity shows 4.05%. Past performance is not a reliable indicator of future returns and returns can be negative in any given year.

Can I switch from Pathfinder to Simplicity?

Yes. Switching KiwiSaver providers is free, requires no permission from your current provider, and typically takes 10–15 business days. You apply with your chosen new provider — they handle the transfer with your old provider directly. There are no exit fees or tax penalties. See our switching guide for the step-by-step process.

Which provider has more fund options — Pathfinder or Simplicity?

Pathfinder offers 4 KiwiSaver scheme funds, while Simplicity offers 6. A larger fund range gives more granular control over your asset allocation; a smaller range typically reflects a focused index- or default-fund philosophy.

How is this data sourced?

All figures are extracted from the FMA Disclose register and provider PDS / Quarterly Fund Update documents. Returns are 5-year annualised averages where available. AUM and member counts are sourced from the most recent provider disclosures. Data is refreshed quarterly. See methodology below.

Pathfinder vs Simplicity

Side-by-side KiwiSaver data — fees, 5-year returns, fund options, members, AUM. Sourced from FMA Disclose and provider PDS.

Last updated: 2026-05-09

General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure

Why Pathfinder and Simplicity differ

The most material difference between these two providers is fees. Simplicity's average annual fee across its six funds sits at 0.25%, while Pathfinder's average across four funds is 1.248% — a gap of roughly one percentage point that compounds materially over a long accumulation period. Simplicity also applies that same 0.25% fee uniformly across its range, whereas Pathfinder's fees span from 1.01% on its Conservative fund to 1.37% on its Growth fund.

Scale differs substantially too. Simplicity manages approximately NZD 6.06 billion in assets across 148,826 members, compared to Pathfinder's NZD 606 million across 13,052 members — a roughly tenfold difference in both AUM and membership.

Metric	Pathfinder	Simplicity	Difference
Average 5Y Return	3.26%	4.05%	0.79% diff
Average Fees	1.25%	0.25%	1.00% diff
Number of Funds	4	6	2 diff
Total Members	13,052	148,826	—
Total AUM	$606M	$6059M	—

Pathfinder vs Simplicity

Why Pathfinder and Simplicity differ

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Key Data Comparison

Pathfinder

Simplicity

Highest 5-year return funds

Pathfinder Top Fund

Simplicity Top Fund

Reading the data: which provider suits which investor

Switching from Pathfinder to Simplicity (or back)

Frequently asked questions

How do Pathfinder and Simplicity compare on fees?

What are the 5-year returns for Pathfinder vs Simplicity?

Can I switch from Pathfinder to Simplicity?

Which provider has more fund options — Pathfinder or Simplicity?

How is this data sourced?

Methodology and data sources

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