KiwiSaver Transfers - keep super and KiwiSaver in one account
KiwiSaver Transfers - keep super and KiwiSaver in one account

Worked in NZ and now in AUS?
Bring your Kiwisaver Balance across the ditch with First Super.

With First Super, your KiwiSaver can join you in Australia. Avoid wasteful fees and taxes on your KiwiSaver and consolidate your money for retirement. Bring your balance across the ditch to First Super today.

Note:

  • First Super is one of only a handful of superannuation funds which accepts KiwiSaver Transfers.
  • By law, KiwiSaver balances cannot be rolled into a superannuation fund that does not accept KiwiSaver.
  • KiwiSaver account balances can only be rolled into another superannuation fund that accepts KiwiSaver Transfers.

 

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Avoid wasteful fees and taxes

If you’re about to become a non-resident of New Zealand for tax purposes (‘officially’ moved to Australia!) or are already living in Australia, consider transferring your KiwiSaver to a KiwiSaver-accepting fund such as First Super, to save on admin fees and taxes.

If you leave your KiwiSaver in New Zealand, it will be taxed at a rate of 28% on the investment earnings in your KiwiSaver each year. Plus, you’ll be paying annual admin fees.

If you transfer your KiwiSaver to a KiwiSaver-accepting fund, investment earnings will be taxed at 15%. Admin fees still apply, but if you combine your KiwiSaver and Superannuation into a KiwiSaver accepting fund such as First Super, not only will you enjoy the benefits of compound interest, but you’ll also only pay one set of administration fees.

KiwiSaver in Australia

It’s important to understand that once you transfer your KiwiSaver into First Super, it can only be transferred to another KiwiSaver-accepting fund, of which there are only a handful. By law, you cannot move it from your new Superannuation fund to a fund that doesn’t take KiwiSaver.

If you move back to New Zealand you can transfer both your KiwiSaver and Australian Superannuation back to a KiwiSaver fund.

How do I bring over My Kiwisaver Balance?

To transfer your KiwiSaver to First Super, you must:

  • be (or become) a First Super member*
  • have an Australian Tax File Number (TFN)
  • provide your home address in Australia
  • transfer your whole KiwiSaver balance
  • tell your New Zealand KiwiSaver fund you want to transfer your KiwiSaver to Australia. You will need to complete their KiwiSaver transfer form and fulfil any of the fund’s requirements**
  • contact First Super by phone 1300 360 988 to have an acceptance confirmation document provided, and to discuss any other requirements
  • send the paperwork to mail@firstsuper.com.au or mail First Super, PO Box 666, South Carlton, VIC 3053.

How do I know the transfer is complete?

Once First Super receives your paperwork and the transfer of your KiwiSaver is completed, we will send you a letter to confirm:

  • that we received the roll-in and the date we received the funds
  • the total funds received from your KiwiSaver

Find out more about the KiwiSaver Transfer process.

FAQs

How long does it take to transfer my KiwiSaver to First Super?

It can take approximately 4-6 weeks to transfer your KiwiSaver account into your First Super account. Our Member Services Team will work with you and your KiwiSaver fund to speed up the process.

If you have any questions, call our Member Services Team on 1300 360 988 or complete a call back request.

What if I don’t have an Australian Tax File Number?

You will need an Australian tax file number (TFN) to transfer your retirement savings to an Australian super fund. If you don’t have a TFN, you can apply for one from the Australian Taxation Office website.

Can I transfer my KiwiSaver to any super fund in Australia?

No, you cannot transfer your KiwiSaver to any Australian super fund or SMSF.

You may only transfer the KiwiSaver component of your account balance to another complying super fund that accepts KiwiSaver transfers. There are only a handful of superannuation funds in Australia which accept KiwiSaver Transfer, of which First Super is one.

These restrictions do not apply to your Australian Superannuation. You may transfer your Australian Superannuation to another Australian super fund or SMSF.

Can I switch my employer contributions to First Super?

Yes. After becoming a member, you can switch your employer contributions (SG contributions) to your First Super account. To nominate First Super as your choice of fund, please complete the Employee Choice of Fund form and give it to your boss.

If you have any questions, call our Member Services Team on 1300 360 988 or complete a call back request.

How do I move my other Australian super accounts to First Super?

If you have more than one Australian super account, you’re paying multiple sets of fees. This can eat away at your super savings and leave you with less for retirement.

To combine* all your super accounts, you can:

  • Log into your firstonline account and go straight to ‘Find and Combine Lost Super’  in the ‘My Transactions’ section.
  • If you have any questoins, speak to our Member Services Team on 1300 360 988.

*Before deciding to combine super balances, you should consider any change to insurance cover or loss of benefits that may apply and, if necessary, consult a qualified financial advisor.

 

Can I transfer my KiwiSaver to a third country?

No. You can’t transfer your KiwiSaver to a third country.

No Transfer fees

We do not charge fees for transferring your KiwiSaver to First Super. However, like all superannuation funds in Australia, we do charge fees for managing your super account.

First Super is run to benefit members. We’re committed to keeping fees competitive, as lower fees and strong investment performance adds up over time to make a big difference to your super balance. Our fee structure applies to both super and pension accounts.

Is there a limit to how much I can transfer from New Zealand to my Australian super fund?

Your KiwiSaver is considered as a non-concessional (personal) contribution. So they will be subject to the non-concessional contributions cap. This is $120,000 for the 2024-25 financial year or $360,000 if you are under age 65 by triggering the bring-forward rule. There are limits on this if you have more than $1.66 million in super.

If you exceed the cap, you will be liable for excess contributions tax.

If I do a KiwiSaver transfer to Australia, what does it mean for me in terms of income tax on the transferred monies?

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

Any savings you transfer to an Australian super fund are not tax deductible as a personal contribution.

Transfers are not eligible personal contributions for the purpose of receiving the super co-contribution for low-income earners.

Transfers are also not eligible for a spouse contribution tax offset.

If I transfer my KiwiSaver savings to my First Super account, can I use that money to access the First Home Super Saver Scheme (FHSS)?

Certain KiwiSaver and other foreign fund transfer amounts are eligible contributions for calculating your maximum FHSS release amounts. For more information see the Australian Taxation Office’s (ATO) Guidance Note 2018/1 First home super saver scheme.

Ultimately, the decision about whether your KiwiSaver savings are eligible for the FHSS Scheme rests with the ATO. First Super isn’t able to make this decision or provide any advice as to whether or not you can access the FHSS Scheme with money transferred from a KiwiSaver scheme.

What happens if I leave my savings in my KiwiSaver scheme?

If you have moved to Australia, you can leave your New Zealand retirement savings in your KiwiSaver scheme. Transferring your KiwiSaver account to an Australian super fund is totally up to you.

If you are no longer a New Zealand tax resident, be aware that your KiwiSaver investment earnings will be taxed at 28%. If you move your money to an Australian fund that accepts KiwiSaver transfers, your earnings will be taxed at only 15%.

Any contributions you make to your KiwiSaver account while living in Australia will not be eligible for member tax credits in New Zealand.

If I transfer my KiwiSaver savings to an Australian super fund, when can I access them?

You can access the New Zealand part of your savings when you reach New Zealand’s retirement age, currently age 65. Any investment earnings on these KiwiSaver funds, plus the contributions made while in Australia, will be subject to all Australian rules regarding access to your super savings.

What happens to my retirement savings if I move back to New Zealand?

If you move back permanently to New Zealand, you can transfer your retirement savings back to New Zealand too. There are no limits to how much you can transfer from an Australian super fund to a New Zealand KiwiSaver scheme. However, again, you must transfer the whole balance of your Australian super fund account.

 

Bring your balance across to First Super today.

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We’re here to help. So let’s talk.

If you would like help transferring your KiwiSaver to Australia, or have any other questions about your super, please call our Member Services Team on 1300 360 988, or email us.