FMA asks: How should KiwiSaver fees be calculated?

Now, the FMA is consulting on how those fees should be calculated and disclosed.

It wants all providers to calculate the dollar figure of their fees int he same way.

It has released a proposal for all schemes to use a total expense ratio calculation, and is seeking industry feedback.

It said the method would work for all funds and by including fund charges, would take into account underlying costs. "Providers should be able to largely rely on current methods for calculating the actual fund charges for their fund updates when calculating the total fees amount."