How do Simplicity and Mercer compare on fees?

Simplicity's funds carry an average annual fee of 0.25% compared with 0.74% at Mercer. 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 Simplicity vs Mercer?

Based on 5-year average annualised returns from FMA Disclose data, Simplicity shows 4.05% across its KiwiSaver scheme fund range, and Mercer shows 5.29%. Past performance is not a reliable indicator of future returns and returns can be negative in any given year.

Can I switch from Simplicity to Mercer?

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 — Simplicity or Mercer?

Simplicity offers 6 KiwiSaver scheme funds, while Mercer offers 14. 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.

Simplicity vs Mercer

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 Simplicity and Mercer differ

The starkest difference between Mercer and Simplicity is fees. Mercer's average annual fee across its 14 funds sits at 0.736%, while Simplicity's average across its 6 funds is 0.25% — a gap of nearly 0.49 percentage points that compounds materially over a long KiwiSaver savings horizon. Simplicity applies that same 0.25% fee uniformly across all funds within its KiwiSaver scheme, including both its lowest-fee and top-performing fund, the Defensive Fund. Mercer's fee range is wider, from 0.32% on its Cash Fund to 0.96% on its Shares Fund.

On five-year returns, Mercer's average of 5.29% across its scheme funds outpaces Simplicity's 4.05% average, and Mercer's Shares Fund leads at 8.86% annualised over five years. Simplicity's top fund by the data snapshot is the Defensive Fund, for which no five-year return figure is disclosed — limiting a direct like-for-like return comparison.

Metric	Simplicity	Mercer	Difference
Average 5Y Return	4.05%	5.29%	1.24% diff
Average Fees	0.25%	0.74%	0.49% diff
Number of Funds	6	14	8 diff
Total Members	148,826	65,781	—
Total AUM	$6059M	$2820M	—

Simplicity vs Mercer

Why Simplicity and Mercer differ

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Simplicity

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Frequently asked questions

How do Simplicity and Mercer compare on fees?

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

Can I switch from Simplicity to Mercer?

Which provider has more fund options — Simplicity or Mercer?

How is this data sourced?

Methodology and data sources

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