Consolidating your NZ super into an Australian account
If you’ve worked in New Zealand, there’s a good chance you have retirement savings in the NZ KiwiSaver scheme. The problem is, if you’ve now got more than one super account so you’re probably paying multiple fees which can eat into your final super balance. Consolidating can be a fee saver and it is simpler to keep track of a single fund too.
Can I transfer my KiwiSaver to Australia?
Yes, it is possible. However not all Aussie super funds accept KiwiSaver transfers. To be eligible, you must:
- Have applied to your KiwiSaver provider.
- Be a member of an Australian super fund that accepts KiwiSaver transfers, such as First Super.
- Have an Australian Tax File Number (TFN).
- Have emigrated to Australia and have an Australian home address.
- Be willing to transfer your entire KiwiSaver balance.
- If over 67 satisfy the work test.
Which Australian super funds accept transfers from KiwiSaver? And how do I choose?
The Industry SuperFund that currently accepts KiwiSaver transfers is First Super.
As an Industry SuperFund, First Super is owned by members with profits going back to account holders, not shareholders.
Note, you cannot transfer KiwiSaver funds into a self managed superannuation fund.
How do I transfer my Kiwi super to an Australian fund?
The first step is to choose an Australian fund that can accept KiwiSaver funds. First Super make it pretty easy to roll over your KiwiSaver into their fund. Simply get the ball rolling with a phone call or visit their dedicated KiwiSaver webpage for more information on how to get started.
You will then need to contact your KiwiSaver fund to get a Trans-Tasman Portability Approval Form. Fill this out and return it to your selected Australian fund.
Once the paperwork is done and the transfer of super is complete, your Australian fund will send you a letter detailing the date your super was transferred and the amount.
There are limits on funds that can be transferred
You will not be able to transfer any of your KiwiSaver funds if the transfer will cause you to exceed the non-concessional (after tax) contributions cap.
How do I find my KiwiSaver?
To find the details of your KiwiSaver account, log on to KiwiSaver or call +64 4 831 2392 from Australia or 0800 549 472 if you’re in NZ.
Can I transfer into KiwiSaver from Australia?
Yes, you can. You just need to choose a KiwiSaver provider, and then once you have a KiwiSaver account check with your Australian super fund (usually via their website) for the forms you need to fill out to make the transfer.