Bringing your Australian superannuation home

If you’ve permanently moved to New Zealand, you could be able to transfer your Australian superannuation savings to the ASB KiwiSaver Scheme.


Why move your Australian superannuation?

There are three good reasons to consider bringing your Australian superannuation to New Zealand:

  • Reduced fees. If you’ve got Australian super and KiwiSaver, you’re probably paying two sets of fees. Combining the two is likely to reduce your overall costs.
  • No entry or exit taxes. Currently there are no entry or exit taxes charged when transferring your Australian super funds.
  • Easier management. Having all your investments in one place will make keeping track of your savings easier.

Before you do anything, it’s a good idea to get some financial and tax advice because different investment and insurance options, fees, currency exchange rates and tax might have an impact on your transfer.


Things to keep in mind

It's important to note that once you’ve transferred your superannuation savings to New Zealand you may not be able to reverse the decision unless you decide to permanently move back to Australia. Your Australian super funds do remain subject to some Australian rules - even after you transfer them.

  • You can’t use your Australian super funds to purchase a first home or use them to count towards eligibilty for the KiwiSaver HomeStart grant. 
  • Your one-off transfer won’t count as a KiwiSaver contribution towards that year’s annual Government contribution (also known as a member tax credit).
  • You can withdraw your Australian super funds when you turn 60 and are retired (by the Australian definition of retired).
  • If you permanently migrate to a country other than Australia or New Zealand, you can’t take your Australian super funds with you.
  • You can’t transfer any UK pension funds that might be in your Australian super fund to the ASB KiwiSaver Scheme.

These rules apply to the lump sum you transfer, but not to any investment returns on that lump sum.


Apply for a transfer

If you've decided you want to make a transfer, you'll need to contact your Australian provider or providers to apply to transfer your funds to your ASB KiwiSaver Scheme account. They'll provide you with the forms to complete and let you know any other documentation they need.

To make the payment your Australian provider or providers will require the details on our 'ASB KiwiSaver Scheme Information Sheet for Australian Providers'

If you're not sure who your Australian provider or providers are, contact the Australian Tax Office (ATO) online using MyGov or call their super search line on +61 13 28 65.  See here for more information.

You’ll generally be eligible for a Trans-Tasman superannuation transfer if:

  • You’ve moved to New Zealand permanently.
  • Your Australian super funds are in an Australian complying superannuation fund.
  • Your money isn’t in a self-managed superannuation fund, retirement savings account, approved deposit fund or defined benefit scheme.



What next?

We'll contact you after your Australian provider has transferred your funds to us and we have added them to your ASB KiwiSaver Scheme account.

It may take up to 60 days for your Australian provider to transfer the funds to your ASB KiwiSaver Scheme account.  

Join or transfer to the ASB KiwiSaver Scheme

Join or transfer

Ready for the next step? Join or transfer and start saving.

Join or transfer

Call us

Speak to a KiwiSaver specialist.

0800 ASB RETIRE (0800 272 738)

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Any questions?

We’ll help with your ASB KiwiSaver Scheme query.

Ask us now

Other helpful guides

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Bringing your Australian superannuation home