CEO Update – February 2025

We are off to a strong start in 2025, with our funds under management – the amount of money our members have trusted us to manage – hitting $5 billion in late 2024.

Last year was also very successful in terms of member growth. We now have over 70,000 members, with a significant increase in New Zealanders joining and transferring their KiwiSaver accounts to First Super.

This is great news for you, our members, as it means that we have a greater amount of funds coming in than going out, which is important for our investment strategy and fund sustainability. It also means we can better spread fixed costs, such as the cost to manage your account, over a larger membership base, which helps us keep member fees competitive. More on that to come later this year.

I also wanted to highlight the quality of our member service last year. Research across our membership last year showed that we were in the top 25% of super funds for overall member satisfaction.¹ And our average call wait time was 58 seconds, which is a lot quicker than some of the larger funds.²

So if you need help, don’t hesitate to pick up the phone to us – you won’t be waiting long.

1 CSBA FEAL Superannuation Experience and Engagement Benchmark member report, August 2024.

² As at Dec 2024. This time excludes the recorded compliance message played when the phone call is connected. Wait times may be longer or shorter depending on availability of people to answer your call.