Ardern Under Fire for Plan to Tax NZ Kiwisaver Management Fees

New Zealand’s government is under fire from opposition parties over plans to tax the management fees paid by pension funds because it is expected to result in increased costs for savers.

The proposal to apply the 15% Goods and Services Tax on management services to pension funds was included in a broad tax bill introduced to parliament Tuesday, but the media release from Revenue Minister David Parker made no mention of it.

The changes, effective from 2026, would flow through to savers in the form of higher fees and could result in the nation’s Kiwisaver pension funds being NZ$103 billion ...