You may be able to bring your Australian Super home with you.
If you have money in certain Australian complying superannuation schemes, you may be able to transfer it to your KiwiSaver account with ANZ. To find out whether you can transfer your Australian Super, talk to your Australian provider first – they’ll be able to advise you.
Here you’ll find information on the benefits of transferring your Australian Super, what to think about, and what you need to do.
Why transfer your Australian Super?
Everyone’s situation is different, but there are some good reasons to consider transferring your Australian Super Scheme to your KiwiSaver account with ANZ.
You may be paying administration fees and unnecessary insurance premiums on your Australian Super, which can eat into your returns. Transferring your money to your ANZ KiwiSaver account means fewer fees to pay.
Easier to manage
Consolidating your retirement savings into one KiwiSaver account makes it easier to stay on top of your investment – and with ANZ you can manage your KiwiSaver savings and ANZ accounts online, all in one place.
Consolidating your retirement funds into one KiwiSaver account means you know exactly how much money you have in your home currency.
What you need to consider
Transferring your Aussie Super may not be the best option for everyone. Here are some things to consider before applying.
Does your Aussie Super have different investment options than your KiwiSaver scheme? If so, which options are most appropriate for your particular situation?
If you’re thinking of moving to another country
Once you’ve transferred your Australian super to a KiwiSaver scheme, those funds can’t be transferred to a third country.
Fees and taxes
Does your Australian provider charge a transfer fee? Check with them to confirm.
Different tax rules apply in Australia and New Zealand. Once you transfer your Australian Super to KiwiSaver, New Zealand tax rules will apply.
Some Australian superannuation schemes provide insurance cover against illnesses, accidents or death, which you may lose if you transfer your money to KiwiSaver. It’s important to review your insurance cover before making any decision.
We recommend speaking to your financial adviser to understand all the consequences before deciding to transfer your Australian Super to KiwiSaver.
How to transfer your Australian Super
To transfer your Australian superannuation to your ANZ KiwiSaver Scheme you’ll need to apply through your Australian provider or providers. Here’s what you need to do:
Confirm your Australian provider(s)
If you’re not sure who your Australian provider or providers are, contact the Australian Tax Office (ATO) on +61 2 2616 1111. You’ll need to provide:
Your full name and date of birth
Address(es) where correspondence from the ATO about your Australian Superannuation may have been sent to you.
Apply for a transfer
Contact your Australian provider(s) to apply to transfer your funds to your ANZ KiwiSaver account. They will provide you with the relevant forms and statutory declaration to complete, and advise you of any other documentation they may require. If they require ANZ’s bank details, please call us on 0800 736 034.
Once you’ve supplied the required documentation
Your Australian provider has 30 days to assess your application. Once approved it may take another 30 days to transfer the funds.
If you want to transfer your funds to the ANZ KiwiSaver Scheme but you’re not a member yet, simply join online.