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Transferring KiwiSaver to Australia, and Australian Super to KiwiSaver

Updated

Retirement savings can move across the Tasman in both directions: your KiwiSaver to an Australian super fund if you move to Australia permanently, and Australian super into your KiwiSaver if you move to New Zealand. This page covers the KiwiSaver-side rules for each direction under the Trans-Tasman portability arrangement.

The Trans-Tasman Superannuation Portability Agreement

New Zealand and Australia have a formal agreement — the Trans-Tasman Retirement Savings Portability Arrangement — that allows super and KiwiSaver savings to be transferred between the two countries.

This allows:

  • people moving permanently to Australia to transfer their KiwiSaver savings to an Australian super fund
  • people who have permanently moved from Australia to New Zealand to transfer Australian super to KiwiSaver

Either way it is a direct fund-to-fund transfer: you cannot withdraw the money as cash and deposit it on the other side.

Moving to Australia: Transferring Your KiwiSaver

Inland Revenue’s rule for moving permanently to Australia: “If you move permanently to Australia, you can transfer your KiwiSaver savings to an Australian superannuation scheme. You do not have to transfer your KiwiSaver savings to Australia though.” (IRD: Getting my KiwiSaver funds when I move overseas)

  • How: contact your KiwiSaver provider, which takes you through the process and transfers the balance to the Australian fund you nominate.
  • Receiving fund: the Australian fund must be a complying superannuation scheme regulated by APRA that accepts trans-Tasman transfers.
  • If you don’t transfer: your savings stay in KiwiSaver under the usual KiwiSaver rules.
  • No cash-out after a year away: the withdrawal available “After you’ve been living overseas (not Australia) for 1 year” applies to other countries. If you’re moving somewhere other than Australia, see withdrawing KiwiSaver when leaving NZ permanently.

How the two systems differ once you’re there (KiwiSaver contribution rates, tax and access age) is covered in KiwiSaver vs Australian super.

Moving to New Zealand: Australian Super to KiwiSaver

The rest of this page covers transfers into KiwiSaver. For the wider money checklist when you move from Australia, see transferring Australian super to NZ.

Who Can Transfer Australian Super to KiwiSaver?

To transfer Australian super to KiwiSaver, you must:

  1. Be a current KiwiSaver member (or join first)
  2. Have permanently moved from Australia to New Zealand
  3. Have super in an eligible Australian fund (see below), with a KiwiSaver provider that accepts transfers

Which Australian Super Funds Can Transfer?

Inland Revenue says savings can only be transferred between a KiwiSaver scheme and an Australian complying superannuation scheme regulated by APRA (the Australian Prudential Regulation Authority).

Check with your Australian fund whether it is eligible and takes part.

Where Does the Transferred Balance Go?

The transferred Australian super goes into your KiwiSaver account with your chosen NZ provider. Inland Revenue says the principal amount transferred stays subject to some Australian rules; earnings on it and any later contributions follow the KiwiSaver rules.

The transferred amount does not earn the government contribution, and Inland Revenue says funds moved from Australian retirement schemes do not count towards the amount you need to contribute each year to get the full government contribution.

Withdrawal rules that differ from standard KiwiSaver:

  • Earlier access: You can withdraw the Australian-sourced portion from age 60 if you are retired as Australian law defines it (for someone aged 60, broadly that an employment arrangement has ended), rather than waiting until 65.
  • No first home withdrawal: the Australian-sourced savings cannot be used for a KiwiSaver first home withdrawal, though earnings on them can.
  • Moving to a third country: if you later move permanently to a country other than Australia, a KiwiSaver emigration withdrawal is reduced by the Australian-sourced savings.

Tax Treatment of the Transfer

Inland Revenue says an amount of Australian-sourced retirement savings transferred to a KiwiSaver scheme under the portability arrangements is treated as exempt from tax at the point of entry.

Once in KiwiSaver, the returns are taxed at your PIR if your scheme is a portfolio investment entity (PIE); the transferred amount itself is exempt from tax on entry.

For complex situations or large balances, a tax adviser familiar with both NZ and Australian tax law can check the treatment.

The Transfer Process, Step by Step

  1. Enrol in KiwiSaver (if not already a member) with a provider whose scheme accepts trans-Tasman transfers; confirm this with the provider first
  2. Obtain your Australian super fund details: fund name, member number, contact details
  3. Contact your KiwiSaver provider and request its trans-Tasman transfer form or process
  4. Complete the request form: your KiwiSaver provider sends the transfer request to your Australian fund
  5. Australian fund processes the transfer: timing varies by fund and provider (one KiwiSaver provider says the whole process usually takes around two months)
  6. Balance appears in KiwiSaver: the savings are converted to New Zealand dollars at the exchange rate on the day the money enters New Zealand, and your NZ provider lets you know once they are applied

Common Questions

Can I transfer if I might return to Australia? Yes. Once in KiwiSaver, the money stays there (tracked as an Australian-sourced amount with its own access rules, see above) rather than reverting to an Australian fund automatically. If you later move to Australia permanently, your KiwiSaver savings can be transferred to an Australian super fund, as described in the section on moving to Australia.

What about lost Australian super? The Australian Tax Office operates a Lost Super register. Visit ato.gov.au to search for unclaimed super before initiating a transfer.

Can I transfer only part of my Australian super balance? Ask your Australian fund and your KiwiSaver provider; their transfer terms set what can be moved. If you hold super with more than one Australian fund, each fund handles its own transfer.

Is there a minimum amount? One KiwiSaver provider says there are no limits on how much you can transfer, but funds and providers choose whether to take part, so check the terms with both.