In this week's episode of Money Made Simple, Liv and Jennie tackle a surprisingly common KiwiSaver question: how do you switch providers, and is there a “right” time to do it? They break down what happens behind the scenes with your provider and the IRD, why switching can be a smart long-term move (without trying to time the market), and the most common worries that stop people from taking smart action.

This episode covers:

•  What “switching providers” actually means (and how that’s different to switching funds) 
•  The main reasons people change provider (over and above just performance and fees!)
•  What actually happens 'behind the curtain' when it comes to the transfer process
•  The typical timeframe it takes to switch providers, and how long your money might be “out of the market” 
•  The 5 biggest worries around switching between providers, and which worries are valid vs. not so worth dwelling on...

 Resources mentioned in this episode: 

-  Compare KiwiSaver funds using Sorted’s Smart Investor tool: https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/?managedFundTypes=kiwisaver

- Sorted's Fund Finder tool: https://sorted.org.nz/tools/kiwisaver-fund-finder/

-  IRD’s list of KiwiSaver providers: https://www.ird.govt.nz/kiwisaver/kiwisaver-individuals/joining-kiwisaver/kiwisaver-providers

-  myIR help info: https://www.ird.govt.nz/myir-help/logging-in/find-username

By the end of this episode, you’ll know what the switching process actually looks like (spoiler: no awkward breakup call required), what matters most when choosing a provider, and how to make the decision based on long-term fit instead of trying to pick the “perfect” day, week or year. 

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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.