Moving your Australian super to KiwiSaver
Moving to New Zealand from Australia usually means leaving a super balance behind with an Australian fund. Since 1 July 2013, the Trans-Tasman Retirement Savings Portability scheme has let you bring that balance into KiwiSaver instead, provided your situation meets the scheme's rules on both sides. We check whether you qualify and handle the transfer with a KiwiSaver scheme from the providers we work with.
How it actually works.
The Trans-Tasman Retirement Savings Portability scheme has let you move an Australian super balance into KiwiSaver since 1 July 2013, provided you've permanently emigrated to New Zealand and can sign a statutory declaration confirming that, along with proof of your New Zealand address.
Only complying superannuation funds regulated by APRA can send a transfer, so a self-managed super fund has to roll into an APRA-regulated fund first, and taking part is voluntary for your Australian fund and your KiwiSaver provider, not something either has to agree to.
Defined benefit interests, amounts from an Australian untaxed source, and unfunded public sector schemes can't be transferred under this scheme, and a transfer has to be your whole balance rather than a partial amount, though there's no cap on how much can come across.
There's no New Zealand or Australian tax on the transfer itself, but once the money is inside KiwiSaver, ongoing earnings are taxed going forward at your own Prescribed Investor Rate rather than Australia's flat superannuation earnings rate, and the balance follows New Zealand's hardship and serious illness withdrawal rules from that point.
The Australian-sourced portion can be accessed from age 60 if you meet Australia's definition of retirement, the New Zealand-sourced portion still needs New Zealand's retirement age of 65, and Australian-sourced money can't later be put toward a KiwiSaver first-home withdrawal or moved on to a third country if you emigrate again.
This page is for you if…
Anyone who's permanently emigrated from Australia to New Zealand and still has a super balance sitting with an Australian fund
People who've confirmed their Australian fund is an APRA-regulated complying fund, since a self-managed super fund can't transfer directly
Anyone weighing up bringing their whole balance across now, given only a full transfer is allowed and there's no undoing it partially
People who might move back to Australia one day and want to understand that the savings, including the Australian-sourced part, can later be transferred back to a participating Australian fund
Two ways to get KiwiSaver sorted.
Going it alone
You compare policy wording and exclusions yourself, insurer by insurer.
No one flags it when your circumstances change and your cover no longer fits.
If a claim is ever declined, you deal with the insurer directly.
The cheapest premium today isn't checked against what it actually covers.
With a Smiths adviser
We compare KiwiSaver across the providers we work with, in plain English.
We review your cover again as your circumstances change, not just once at the start.
If you ever need to claim, we deal with the insurer on your behalf.
You get one recommendation based on your situation, not a single insurer's product.
Talk to an adviser about this.
Thirty minutes with a licensed Smiths adviser, no obligation. Leave your details and we'll be in touch, usually within one working day.
Full audit of your existing cover, fund, and policy wordings
Comparison across the providers we work with
A clear written recommendation in plain English
Implementation paperwork handled by us, not you
Why this is easier with an adviser.
Check your situation against the scheme's eligibility rules, including the statutory declaration and proof of a New Zealand address it requires
Confirm with your Australian fund whether it's an APRA-regulated complying fund able to take part, since sending a transfer is voluntary for them too
Recommend a KiwiSaver scheme from the providers we work with that accepts Australian transfers, matched to your goals and risk setting rather than picked at random
Handle the transfer paperwork, from confirming your KiwiSaver provider through to submitting the request to your Australian fund, which typically takes several weeks up to a few months once lodged, though the Australian fund sets the final timing
The KiwiSaver providers we work with.
KiwiSaver
Our advice covers the providers shown here, not every insurer or KiwiSaver provider in New Zealand. The panel can change, and we'll always confirm it when we give you advice.
Common questions about KiwiSaver.
No. A transfer has to be your whole balance, there's no partial option, though there's no cap on the total amount that can come across.
No. Money transferred in from Australia is excluded from KiwiSaver first-home withdrawals under the scheme's rules.
There's no New Zealand or Australian tax on the transfer itself. Once it's inside KiwiSaver, ongoing earnings are taxed at your own Prescribed Investor Rate rather than Australia's flat superannuation earnings rate.
No. A self-managed super fund has to roll into an APRA-regulated complying fund first, and that fund is the one that sends the transfer to KiwiSaver.
The Australian-sourced portion can be accessed from age 60 if you meet Australia's definition of retirement. The New Zealand-sourced portion still needs you to reach New Zealand's retirement age of 65.
It varies by fund, but transfers typically take several weeks up to a few months once lodged with the Australian fund, which is the party that ultimately pays the money across, so the final timing isn't something we control.
Other services in this area.
Talk to the team.
Book a free review with Craig, Guy or Henry. No fees, and we're there if you ever need to claim.