Transferring your Australian Superannuation Funds back to New Zealand!


Trans-Tasman Portability - all you need to know and more
 

How do I make the transfer?

If you would like to transfer your Australian superannuation savings to your Fisher Funds KiwiSaver Scheme account simply fill out the attached Australian Super Scheme Transfer Form, send it back to us, and we'll do the rest. If you have more than one Aussie Super fund then you will need to fill out a form for each one.

Download the Australian Super transfer form

Our experience so far indicates that it may take some time for Australian schemes to process your transfer. Rest assured, we will keep you up-to-date throughout the entire process.

Ask a question

If you've worked in Australia at any time since
1992 you'll probably have Australian superannuation
savings. Now you can bring these savings back to New Zealand by transferring them into
your KiwiSaver account.

There are several reasons why transferring your Aussie Super back to New Zealand makes sense.

  • Visibility - having all of your retirement savings in one place makes it easier to keep track of your savings and what is happening with it.
  • Lower fees - You are probably paying at least two sets of fees. Consolidating your super into one KiwiSaver account can reduce the total cost. It is also possible that you might have more than one super account in Australia if you changed jobs when you were there.
  • Certainty - if you are planning to retire in New Zealand, you probably want to know what your nest egg is worth in New Zealand dollars.

Are there any restrictions or special rules that apply?

There are several rules and regulations that have been agreed that you should be aware of:

  • Once you have transferred your superannuation savings to New Zealand you cannot reverse the decision unless you decide to permanently move back to Australia.
  • You can only transfer Australian funds back into a KiwiSaver account in your name.
  • You cannot access any Australian funds transferred to New Zealand until age 60 and you satisfy the Australian definition of retirement at that age.
  • Transferred Australian funds cannot be used to assist with the purchase of a first home, nor can they be transferred to a third country.
  • There is no tax to pay on the transferred balance prior to it being invested in your Fisher Funds KiwiSaver Scheme account, however, once it is invested the balance will be subject to New Zealand tax just like your current KiwiSaver earnings are. Investments in New Zealand are taxed differently to those in Australia. Australia generally has a flat rate of 15% on earnings from superannuation schemes. New Zealand's tax rate can range from 10.5% to 28% depending on your own Prescribed Investor Rate (PIR). However, Australia taxes capital gains in superannuation schemes on equities whereas New Zealand does not tax capital gains on New Zealand equities and most Australian equities. International shares are usually taxed at as if they earned 5% per annum. If you require further information, we recommend that you seek independent advice on taxation from an expert.
  • There may be other benefits specific to your Australian super scheme which are not provided by KiwiSaver Schemes. If you are unsure of the impact of transferring to our KiwiSaver scheme we suggest you seek personalised financial advice.

To ensure the rules are upheld your transferred Australian savings will be separately identified in your KiwiSaver account.

You're not alone! It is estimated that up to $A5 Billion of "lost" Super is owned by New Zealanders. Even if you picked fruit in Queensland for a couple of months one summer you will have made Super contributions. Who knows how much you may have unwittingly invested and forgotten about?

If you know your Tax File Number (TFN) If you do not know your TFN number

Visit the 'super seekersection of the Australian Taxation Office website.

You will need to enter your Full Name, Date of Birth and Tax File Number. 

You can print or email us the page which contains the details of your Aussie Super provider.

You can:

  • Contact the Australian Taxation Office on +61 2 6216 1111
  • Complete the 'Searching for lost super form' and send it to:
    Australian Taxation Office
    PO Box 3578
    Albury NSW 2640
  • Contact your previous Australian employer

If you would like to discuss your Aussie Super in more detail, feel free to email us or call us on 0800 FFKIWI (0800 335494) and we can walk you through the process.

Yes, you can.

From 1 July 2013, if you permanently migrate to Australia you will be able to transfer your retirement savings to an Australian complying superannuation scheme regulated by the Australian Prudential Regulation Authority (APRA). A list of complying schemes can be found here.

Are there any restrictions or special rules that apply?

There are several rules and regulations that have been agreed that you should be aware of:

  • You will no longer be able to withdraw your retirement savings in cash one year after permanently migrating (as is the case up to 30 June 2013). However, the $1,000 kick-start and any KiwiSaver member tax credits will be transferred over.
  • You will be able to access your KiwiSaver funds at the age of entitlement to New Zealand superannuation. Currently this is at 65 years of age. Any earnings on these KiwiSaver funds as well as contributions made while in Australia will be subject to all Australian rules regarding access to funds.
  • You will not be able to transfer any transferred New Zealand funds into Australian self-managed superannuation funds, nor can they be transferred to a third country.
  • Any transfers of retirement savings will be subject to Australia's rules regarding the taxation of retirement savings contributions greater than $150,000 per annum. This is known as the non-concessional contributions cap.