Transfer your KiwiSaver back to New Zealand
Transfer your KiwiSaver back to New Zealand
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Transfers back to New Zealand

If you plan to move to New Zealand, you can transfer your superannuation and KiwiSaver transfer back to a KiwiSaver fund of your choice in New Zealand.

How to transfer your retirement savings to New Zealand

Before you transfer your retirement savings, you must:

  • Have permanently emigrated to New Zealand – you need to sign a statutory declaration stating this is the case, and provide proof of residence at an address in New Zealand*
  • You will need a New Zealand Inland Revenue Department (IRD) number to transfer your retirement savings from Australian superannuation fund to a KiwiSaver scheme.
  • Open up a KiwiSaver account ready to receive the transferred funds. Ensure the KiwiSaver fund will accept your Australian transfer.
  • Request the whole balance of your super savings be transferred to a KiwiSaver scheme.

*You can use a statutory declaration, declared and witnessed in New Zealand, to prove you have permanently emigrated to New Zealand.

Contact First Super

If you are a member with First Super you will need to provide us with the following information so we can transfer your balances into your new KiwiSaver account:

  • Contact us and ask for the application form requesting the transfer of your balance to a KiwiSaver fund. Complete the form and send back to us.
  • Provide certified copies of two forms of identification (e.g. drivers licence, passport etc)
  • Formal proof of residency in New Zealand (e.g. a statutory declaration confirming your address, rates notice, tax assessment notice, or social security notice)
  • The name of your KiwiSaver fund and a compliance letter stating it is a registered KiwiSaver product and can accept the funds transfer
  • The postal address of the KiwiSaver scheme and its registration number
  • Your Inland Revenue Department Number
  • Your KiwiSaver account number.

After we receive all of the above documents, we can go ahead and process your request.

Transfers to New Zealand: details you need to know

Once your Australian super fund savings are in your KiwiSaver fund, they are generally subject to New Zealand’s retirement savings rules.

Some rules apply only to money transferred from an Australian super fund to a

KiwiSaver scheme, for example, it:

  • Can only be transferred from complying super funds regulated by APRA.
  • Can’t be used to purchase your first home.
  • Can’t be moved to a third country.
  • Can be accessed when the member reaches 60 years old and satisfies the Australian definition of retirement.

For more details on transfers into and out of KiwiSaver schemes, check the New Zealand Government’s KiwiSaver website or contact your KiwiSaver scheme directly.

Accessing your retirement savings in New Zealand

Retirement savings you transfer to New Zealand from Australia are held in your

KiwiSaver fund account in two parts:

  • The Australian-sourced component
  • The New Zealand-sourced component

To access the Australian-sourced component, generally you will need to be 60 years old and fully retired.

To access the New Zealand-sourced component, you will need to reach the New Zealand age of retirement (currently 65 years old).

Income tax

A transfer from a participating Australian super fund to a New Zealand KiwiSaver fund is not taxed. You can also withdraw funds tax-free from your KiwiSaver fund once you are legally allowed to access them.

Australia to New Zealand transfer limits

There are no limits on how much you can transfer from an Australian super fund to a KiwiSaver fund. However, you must transfer the whole balance of your Australian fund.

Moving back to Australia

If you move back to Australia again, you can only transfer the KiwiSaver component to an APRA KiwiSaver transfer accepting fund. You need to provide a statement to your Australian super fund showing which components of your savings (Australian or New Zealand) were previously counted toward the Australian non-concessional contributions cap.

The statement also needs to show the different components (such as tax-free and taxable) of your retirement savings, so they retain that status when transferred back to Australia.

If you don’t provide this statement, all your savings will be counted towards the non-concessional contributions cap and you may have to pay excess contributions tax. Also, all the components of your Australian-sourced savings will become taxable and you may be liable for additional tax.

We’re here to help. So let’s talk.

If you would like to discuss a KiwiSaver transfer, or have any other questions about your super, please contact our Member Services Team today on 1300 360 988, or email us mail@firstsuper.com.au.