Broken piggy bank (Photo: Hurst/Shutterstock)
Date last modified 03 October 2017
The New Zealand and Australian governments do allow Kiwis or Aussies who are crossing the ditch permanently to take their retirement savings with them, unfortunately very few funds actually will.
Accepting transferred retirement savings is voluntary for Australian super funds. Check with your:
- Australian super fund to confirm whether they will transfer funds to New Zealand.
- KiwiSaver fund about transferring funds to Australia.
Transfers from New Zealand to Australia
In May 2018 Super Guide checked the websites of more than 30 large super funds. Only three Australian super funds are accepting transfers FROM KiwiSaver accounts to Australian super accounts. Many more Aussie super funds permit transfers of Australian superannuation savings TO New Zealand KiwiSaver schemes.
The super funds that accept transfers from KiwiSaver accounts are:
Once shifted between KiwiSaver or Australian super money can’t subsequently be transferred to a third country.
You should get financial advice before switching your retirement savings.
Check with your Australian Superfund and KiwiSaver to see if they will charge any fees for transferring or accepting funds on your behalf.
Before accessing your Australian Superfund due to financial hardship you must have been in receipt of an income support payment for a minimum 26 weeks. The payment usually needs to continue while hardship application is processed.
KiwiSaver funds still in New Zealand can be accessed on financial hardship grounds. Contact your KiwiSaver provider.
Find out more
Eligibility for the Australian aged pension and NZ superannuation
Thank you for your support.
The above “Transferring funds between an Australian Superfund and KiwiSaver” information should not be relied on as an alternative to advice from an accountant or financial advisor.
If you have any specific questions about your retirement savings, you should consult an accountant, financial advisor or your fund provider.