Mercer KiwiSaver Scheme 

There's a lot more to selecting a KiwiSaver fund than just checking past returns and fees. If your hard-earned money is invested in KiwiSaver, you need to ask the important questions to understand where and how that money is invested.

Looking for the Mercer KiwiSaver Login portal?


Provider Name National Capital Research Report Login Link
Mercer Available on this page. Mercer Online Portal  new tab

If you want to check your account performance, you can do so via the Mercer KiwiSaver login above. If you have any trouble signing in, here's our dedicated troubleshooting section about the Mercer KiwiSaver login. 

What questions are important to Investors?

Note: The following information is taken from Mercer Kiwisaver Scheme's own website, fund updates, and the product disclosure statement published as of August 2023.

Review of the Mercer KiwiSaver Scheme

A short summary review of the provider

Updated: 21st Aug 2023
Reviewed by: Henry Hoh 

Mercer KiwiSaver Scheme review

The Mercer KiwiSaver Scheme is a trusted provider and has been awarded a Platinum rating for eight years running for delivering value for money by SuperRatings.

They offer seven different KiwiSaver Funds, ranging from a lower-risk cash fund to a higher-risk sustainable plus shares fund. You can select where to invest between the six funds from your Mercer KiwiSaver login. Mercer adopts a responsible investment policy, which involves investing in sustainable companies and excluding companies that are involved in substantial and irreparable harm.

Mercer uses five essential elements as part of its investment beliefs: Active Management, Operational Efficiency, Risk Management, Dynamic Asset Allocation and Sustainability. Each of their funds contain multiple asset classes (excluding the Cash Fund) managed by investment managers and the statement of investment policy and objectives (SIPO), which is reviewed annually.

Mercer charges annual fund fees that range between 0.33%-0.96%. The provider also charges performance fees in the range of 0.04%-0.05% for all its funds except its Cash, Sustainable Conservative and Sustainable Plus Shares Funds. It is free to switch between different funds within the scheme and there are no joining or exit fees if you decide to switch KiwiSaver. Access your Mercer KiwiSaver Login to switch between their funds if you wish to do so.

In general, the returns of Mercer KiwiSaver funds in the last 5 years have been similar to the average KiwiSaver returns.

Changes within the Mercer KiwiSaver Scheme

In Sep 2020, Mercer reduced the annual fund fees for its Conservative fund from 0.58% to 0.47%.

Mercer also lost its default provider status in 2021 as part of a larger overhaul of the Default KiwiSaver scheme by MBIE.

In Mar 2022, Mercer removed the $27 annual administration fee for all the Mercer KiwiSaver scheme members.

In closing

Based on past performance alone, for the past five years, Mercer has continuously performed around the average KiwiSaver fund after fees and taxes. You can check your investment performance through the Mercer KiwiSaver login.

How do Mercer compare to others?

Best Performing KiwiSaver Funds

Kiwi Wealth Balanced
Milford Active Growth
High Growth
Booster SRI High Growth

*Past performance is not necessarily indicative of future performance.

*List is of the highest 5-year returns A-rated funds as per our Investment Selection Process

*All returns are after fees and tax (28% PIR) as of the quarter ended 31st December 2023.

*Source: National Capital Research February 2024

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Latest News on Mercer

Useful news related to the Mercer KiwiSaver Scheme 

Who is Mercer?

Facts & History of the provider


In 1937, William M. Mercer Ltd began in Canada and grew to become a premier provider of actuarial and benefits consulting services. Acquired by Marsh & McLennan Companies in 1959 and merged with its own employee benefits department, the firm expanded through growth and acquisition to become a global leader in health, retirement, investments, and talent.

Today, Mercer works with clients in 130 markets around the world, helping them continue to advance the health, wealth, and performance of their clients.

Mercer is a wholly-owned subsidiary of Marsh & McLennan, a professional services firm in the areas of risk, strategy, and people. The company’s more than 25,000 colleagues advise clients in over 130 countries. Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. Marsh advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions.


Mercer manages seven funds under their KiwiSaver scheme, varying in levels of risk from the Cash fund to the Shares fund. These can be chosen via the Mercer KiwiSaver login. As of March 2023, the total AUM for Mercer KiwiSaver was over $217 million, and there are 49,421 KiwiSaver members.

Who are the people looking after my money?

The investment team, structure and their alignment with clients

The Investment team

Martin Lewington - Chief Executive Officer (Mercer N.Z. Limited)

Martin was appointed Country Corporate Officer of Marsh & McLennan Companies, New Zealand, driving business strategy across all operating companies in New Zealand. Martin has been CEO of Mercer NZ since 2009. He is responsible for the firm’s Wealth, Health and Career businesses.

Martin has also held senior roles with Mercer in investment management and investment consulting businesses since joining Mercer in 2006.

Sarah Whitelock - Consumer Wealth Leader, (Mercer N.Z. Limited)

Sarah Whitelock is a Principal and the Leader of the Consumer Wealth business. She is responsible for overseeing the Mercer consumer products including the Mercer KiwiSaver scheme, Mercer Super Trust, and the Mercer FlexiSaver unit trust. Sarah's focus and passion is to ensure that all Kiwis have access to innovative solutions that enable them to make sound long-term investment decisions and to meet their investment goals.

Sarah joined Mercer in May 1998 and in addition to her current role has been involved in superannuation consulting to corporates and trustee bodies, the provision of secretarial services to superannuation boards, along with business and project management. Prior to joining Mercer Sarah gained experience at PriceWaterhouseCoopers and within Local Government in Audit and Financial Accounting roles.

Sarah has a Bachelor of Business Studies (Accounting) from Massey University and is a Member of Chartered Accountants Australia and New Zealand.

Adam McKenzie - Head of Wealth, (Mercer N.Z. Limited)

Adam McKenzie is a Partner and Head of Wealth at Mercer New Zealand.

In his role Adam develops and executes the Wealth business strategy, leading their team, working with clients and pursuing business development opportunities across Institutional and Consumer Wealth.

Adam joins Mercer New Zealand following nearly 13 successful years with Mercer in Melbourne and the UK, his most recent role as a Partner and Sales Leader for the Institutional Wealth business across Australia. Adam has been responsible for developing and growing key client relationships, ensuring retention and client satisfaction. Adam brings with him over 20 years experience in financial services, having worked for AMP, National Australia Bank and Aviva.

How is the Investment Team Structured?

'Manager of Managers' Approach

Unlike some other KiwiSaver providers, Mercer uses a ‘manager of managers’ approach. As a manager-of-managers, Mercer selects specialist investment managers for each sector, thereby delegating the selection of securities to those managers.

They have more than 100 staff involved in manager research which allows them to track over 5,400 managers and more than 26,000 investment strategies across the globe. Each investment option is carefully constructed and Mercer monitors every manager on behalf of their investors.
Mercer selects Investment Managers who specialize in their particular investment markets and who have demonstrated the capability and conviction in portfolio construction and the execution of investment strategies.

The process of selecting these managers includes an assessment of their ability and performance and is continuously monitored with formal performance reviews. You can check how your own funds are doing through the Mercer KiwiSaver login.

Mercer's Responsibilities

Mercer is responsible for the investment of the Scheme’s assets, in accordance with legislative requirements, the Trust Deed, the Product Disclosure Statement (PDS), and this SIPO. Their responsibilities include:

  • Maintaining the investment governance framework including effective investment policies.
  • Establishing investment beliefs and investment process.
  • Setting investment objectives and risk tolerance for the Funds.
  • Determining the investment strategy for each Fund. This includes the Benchmark Asset Allocation, ranges, other limits, and appropriate indices.
  • Implementing the investment strategy.
  • Monitoring Fund investment performance relative to objectives and compliance with strategy limits. You can also monitor performance via your Mercer KiwiSaver login.

Mercer is responsible for reviewing the performance of its investment managers and is undertaken on a regular basis. These managers will be reviewed on factors such as investment style, organizational strength, performance relative to investment objectives, and many other factors to demonstrate the company’s dedication to the success of their funds in accordance with their objectives.

The returns of Mercer funds will be compared with the returns of a suitable peer group and is monitored on a monthly basis to best meet the fund’s objectives and compliance with their respective benchmarks. You can check your returns via your Mercer KiwiSaver login.

How do I know my money is safe?

Governance & Compliance processes

All KiwiSaver Providers must ensure they meet regulatory standards and act with customer interests in mind.

KiwiSaver Scheme Managers must exercise care, diligence, and skill in the investment of scheme assets, and act in accordance with the stated investment policy and objectives. The FMA monitors that KiwiSaver Schemes are compliant with their obligations. Additionally, KiwiSaver Trustees also have a responsibility as front-line supervisors for monitoring the management and administration of these schemes. Essentially, regulatory bodies are in charge of enforcing compliance beyond what you can see through your Mercer KiwiSaver login.

Mercer's Custodian 

A custodian plays a key role in protecting your investments. They hold your money and investments (i.e. keep custody of them) on your behalf. So they are the legal holder of your assets seen through the Mercer KiwiSaver login while you are the beneficial and ultimate owner.

The custodian for Mercer KiwiSaver is BNP Paribas Fund Services Australasia Pty Ltd. BNP Paribas in Australia and New Zealand offers a range of highly specialized financial and advisory services. Their global assets under custody stand at NZD $22 Trillion as of January 2019.

Mercer's Supervisor 

A supervisor is a licensed entity independent of a KiwiSaver provider that supervises the provider’s management of the scheme. KiwiSaver schemes are trusts, and (except for restricted schemes) the terms of the trust deed states that the supervisor (or another custodian) must hold all contributions and investments in trust for the investors.

Mercer KiwiSaver Scheme’s supervisor is Trustees Executors Limited. Trustees Executors is a professional New Zealand Trustee Company that provides a range of financial and trust services to individuals and also the corporate sector as a Licensed Financial Markets Supervisor. Trustees Executors oversee the administration and supervision of client funds totaling in excess of NZD$122 billion.

Mercer’s Governance Process

The Company has a Board of Directors who is required to ensure that each Fund is administered according to the Fund’s Trust Deed, other governing rules, and superannuation legislation. The Board has adopted a charter that sets out its role and responsibilities in administering the Fund.

The make-up of the Board is also governed by the Constitution of the Company and the Board Governance Policy. Board proceedings are also governed by the Constitution and the Board Meeting Protocol. The Company’s Board currently comprises five Non-Executive Directors and one Executive Director. A majority of Directors are also “Independent” Directors.


How do they decide where to invest?

The investment processes followed by the manager

Mercer's Investment Belief

Mercer’s KiwiSaver investments approach is based on the belief that an optimal investment strategy takes full advantage of investment opportunities by diversifying across investment classes (in a multi-sector fund) and investment styles, thereby achieving maximum investment efficiency. Mercer believes that a “manager of managers” approach is the most effective and flexible way of delivering the best outcome for investors and that well-constructed combinations of highly-rated specialist investment managers generally result in securing a portfolio of investments that provide consistent, above-average performance over time. You can also track this via your Mercer KiwiSaver login.

Underpinning this approach, there are five basic elements to Mercer’s investment beliefs

Active Management: Mercer believes that active management is a skill and its manager research process can improve the likelihood of identifying capable and skillful managers.

Operational Efficiency: Mercer considers overall investment returns can be enhanced by having a monitoring and governance framework that focuses on evaluating and quantifying investment efficiency

Risk Management: Mercer believes that asset allocation and diversification are the most important decisions to be made in relation to the investment process. They are also of the view that risk and return are related and that risk is itself a multidimensional concept.

Dynamic Asset Allocation: Markets can exhibit trends over the medium to long term and can be behavioral in nature, which is why Mercer believes Dynamic Asset Allocation can add value through higher returns and also mitigate downside risk in a Fund. 

Sustainability: Mercer believes that environmental, social, and governance (ESG) risks and opportunities can have a material impact on long-term risk and return outcomes and considers that taking a sustainable investment view is more likely to create and preserve long-term investment capital.

Mercer also believes that active ownership helps realize long-term shareholder value.

Manager Selection

Mercer focuses on selecting Investment Managers who are specialists within their particular investment markets and who have demonstrated capability and conviction in portfolio construction and the execution of investment strategies.

A formalized process of screening potential managers, including a detailed assessment of their ability and performance, is coupled with ongoing monitoring and formal performance reviews. The aim is to achieve a level of returns meeting or exceeding the objectives set, from time to time, for each Fund and which is consistent with the risk profile of each Fund.

Investment Performance Monitoring

Mercer is responsible for reviewing the performance of the appointed Investment Managers. Such monitoring is undertaken on a regular basis. You can monitor investment results through your own Mercer KiwiSaver login. Factors taken into account in these reviews will include investment style, resources, organizational strength, investment performance relative to objectives, product structure, and any other factors considered relevant to the Investment Manager’s continuing ability to meet the applicable investment objective. 

Returns will also be compared with returns earned by a suitable peer group, such as a group of other professional investment managers. Reporting on performance against each Fund's objectives and compliance with benchmarks is monitored on a monthly basis. Exceptions, including unexpected performance dispersion or negative outcomes, are highlighted in this reporting, and any recommended remedial actions are noted. As already mentioned, you can check on performance through your Mercer KiwiSaver Login.

Dynamic Asset Allocation

The Funds, excluding the Cash Fund, are subject to a Dynamic Asset Allocation (DAA) process designed primarily for risk control, capital preservation, and incremental value add. DAA assessments are conducted on a regular basis and involve two stages.

First, each asset class is assessed to determine whether it warrants being under or over-weighted based on a broad range of factors. Secondly, position size (i.e. the extent to which the asset class weight is ‘tilted’ within the benchmark ranges) is determined based on the level of conviction as to the expected value such tilts will add, and dictates the Target Allocation. 

This DAA approach aims to produce a more stable pattern of returns for the relevant Fund, especially during unstable market periods.


Does Mercer Invest responsibly?

Social and Ethical Considerations

Socially responsible investing (SRI) or Environmental, Social and Governance investing (ESG), also known as sustainable, socially conscious, “green” or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about social change regarded as positive by society.

Basically, SRI investing is investing in companies that have a positive impact on society, based on a number of factors.

Mercer’s Responsible Investment Policy

Mercer New Zealand’s Responsible Investment Policy is guided by:

  • The company purpose, mission, and investment beliefs
  • The clients and customer perspectives
  • The fiduciary responsibilities
  • Compliance with the laws of New Zealand

The three components of the policy are Sustainable Investment, Ethical Exclusions, and Corporate Governance & Proxy Voting.

Sustainable Investment

Mercer believes a sustainable investment approach is more likely to create and preserve long term investment capital.

As an investor in New Zealand and international markets, Mercer believes that Environmental, Social, and Governance (ESG) factors can have a material impact on long term risk and return outcomes. Further, Mercer believes that principles of active ownership and investment stewardship are of value in the investment process. For that reason, ESG factors are incorporated in Mercer’s decision making and ownership practices for its investment funds/options in New Zealand.

Mercer is also a Signatory to the United Nations Sponsored Principles of Responsible Investment

Ethical Exclusions

Mercer may exclude investments in companies that they view as doing substantial and irreparable harm to society or the environment provided the risk/ return implications of excluding such companies is not expected to lead to a significant financial detriment for clients and can be effectively managed. You can check what the biggest investments in your fund are through the Mercer KiwiSaver login. 

Corporate Governance & Proxy Voting

Mercer applies principles of active ownership and exercises its duties as an owner, including share voting and engagement. In regards to New Zealand and Australian shares, the decision on how to vote is ultimately made by Mercer, with oversight provided by Mercer investment professionals tasked with the management of compliance with Mercer’s approach to corporate governance and proxy voting.

The following key principles underpin the Mercer approach:

  • Shares are voted in a manner that is deemed most likely to protect and enhance the long term value of a security as an asset to the portfolio.
  • Mercer ensures all votes are evaluated and voted on for all company resolutions unless there is a conflict of interest or exceptional administrative burden that would prevent this from occurring.
  • Voting records are maintained.


Mercer KiwiSaver Login

Mercer KiwiSaver Scheme

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Would you like to compare your Mercer KiwiSaver Login account against the top-performing funds?

The screenshot of the Mercer KiwiSaver login page is for educational purposes only.

Mercer KiwiSaver Login

Click here to be directed to the Mercer KiwiSaver login page.

You’ll need your email address and password to get through the Mercer KiwiSaver login and check your investment.

Mercer made changes to their login process recently. Previously, you were able to enter your member number or employer/plan number as your Mercer KiwiSaver login username. Now, you must activate your email address instead. These changes make the Mercer KiwiSaver login process easier and more secure. After all, security is incredibly important when accessing any financial information.

If you haven’t logged in via email yet, the activation only takes a few minutes and is very simple.

What if you can’t remember your Mercer KiwiSaver login member number or employer/plan number? You can find these in your registration email or letter and your annual statement/report. Alternatively, you can ring the support team on 0508 637 237 during working hours. (9 am to 7 pm, Monday to Friday on business days)

If you can’t remember your Mercer KiwiSaver login password/PIN you can click the ‘I don’t have a PIN’ link. You must confirm your date of birth before receiving a verification email to create a new password.

You can also change your email address via your “Personal Details” page on the dashboard. 

Access to your Mercer KiwiSaver login account is available 24/7. You can also download the Mercer mobile app to check your balance, update details, and review your investment options. 

Any trouble accessing your Mercer KiwiSaver login account, please contact