If you’ve worked in Australia, you may have accumulated superannuation that’s sitting in an Australian fund. Since 2013, a Trans-Tasman portability agreement allows Australians moving to NZ (and New Zealanders returning home) to transfer their Australian super directly into an eligible KiwiSaver scheme — rather than leaving it stranded across the Tasman.
You can transfer Australian super to a KiwiSaver scheme, but the transfer is taxed at your marginal NZ tax rate on the investment earnings component. For many people this makes transferring less attractive than it sounds — run the numbers first. Transferring locks the money up until age 65 (NZ) and removes the option of accessing it under Australian super early-release rules.
How Trans-Tasman Super Portability Works
The trans-Tasman portability scheme lets you consolidate your Australian super into a NZ KiwiSaver scheme. The rules:
- You must be permanently emigrating from Australia to NZ (or be a NZ citizen/permanent resident returning home)
- You must be enrolled in an eligible KiwiSaver scheme that accepts Australian super transfers
- Your Australian super fund must be a complying superannuation fund (almost all Australian APRA-regulated funds are)
- You cannot transfer Australian super into a non-KiwiSaver NZ scheme
- The transfer is one-way — once transferred to KiwiSaver, it cannot go back to Australia
Which KiwiSaver Funds Accept Australian Super Transfers?
Not all KiwiSaver providers accept Australian super transfers — the compliance requirements are significant. Confirmed accepting providers include:
| KiwiSaver Provider | Accepts AU Super? |
|---|---|
| Fisher Funds | ✅ Yes |
| Booster | ✅ Yes |
| Milford | ✅ Yes |
| Generate | ✅ Yes |
| ANZ KiwiSaver | ✅ Yes |
| ASB KiwiSaver | ✅ Yes |
| BNZ KiwiSaver | ✅ Yes |
| Westpac KiwiSaver | ✅ Yes |
| Simplicity | Check directly |
| Kernel | Check directly |
Contact your chosen KiwiSaver provider directly to confirm they accept Australian super and to get their transfer form.
Tax Treatment of the Transfer — Important
This is where many people are caught off guard. When you transfer Australian super to NZ KiwiSaver, the transfer is treated as follows for NZ tax purposes:
| Component | NZ Tax Treatment |
|---|---|
| After-tax contributions (your own money) | Not taxed |
| Before-tax contributions (employer SG contributions, salary sacrifice) | Taxed at your marginal NZ rate |
| Investment earnings accumulated in AU | Taxed at your marginal NZ rate |
| Australian government co-contributions | Taxed at your marginal NZ rate |
In practice: Most people’s Australian super consists largely of employer contributions and accumulated earnings — both of which attract NZ tax on transfer. This tax is deducted by IRD before the funds enter your KiwiSaver account.
Example: You transfer AU$60,000. Of that, AU$10,000 was your own after-tax contributions, AU$50,000 was employer contributions + earnings. The AU$50,000 is taxed at your NZ marginal rate (e.g., 33%). You’d pay approximately $16,500 NZD in tax on that component.
Should You Transfer? Pros and Cons
Reasons to transfer
- Consolidation: One retirement account is simpler to manage
- Active management: You can choose your KiwiSaver fund and investment strategy, rather than leaving it in a default Australian fund
- Small balances: If you have a small Australian super balance (under AU$5,000), it’s often better to consolidate than have it eroded by fees
- KiwiSaver first home benefits: Transferred funds do not count toward KiwiSaver first home withdrawal eligibility — they are locked in the “Australian super transfer” category
- Avoid lost super: Many people’s Australian super becomes lost when they emigrate permanently
Reasons not to transfer
- Tax on transfer: The tax hit on employer contributions and earnings can be substantial
- Access age difference: Australian super can be accessed at age 60 (preservation age varies). NZ KiwiSaver is locked until 65 (unless hardship). Transferring moves the access age back.
- Currency risk: You’re converting AUD to NZD at current exchange rates. If AUD strengthens after transfer, you’ve lost on that exchange
- Australian early-release provisions: Australia allows super access under certain hardship and compassionate grounds. Once transferred to KiwiSaver, only NZ hardship rules apply
- Lost super search: Before transferring, check the ATO’s unclaimed super portal for any small lost accounts
The Transfer Process — Step by Step
- Enrol in a KiwiSaver scheme that accepts Australian super transfers
- Contact your KiwiSaver provider and request their Australian super transfer paperwork
- Contact your Australian super fund — notify them of your intention to transfer and request a transfer form (or use their online portal)
- Submit the transfer request — both funds coordinate the transfer; IRD is notified automatically
- IRD calculates and deducts tax — this happens before the funds enter your KiwiSaver account
- Funds arrive in your KiwiSaver account — typically takes 4–8 weeks
Australian Superannuation You Cannot Transfer
Some types of Australian super cannot be transferred to NZ:
| Type | Can Transfer? |
|---|---|
| Standard employer super (APRA-regulated) | ✅ Yes |
| SMSF (self-managed super fund) | ❌ No |
| Defined benefit schemes | ❌ Usually no |
| Super with a binding nomination that prevents transfer | ❌ No |
What Happens to Australian Super If You Don’t Transfer
If you leave your Australian super in Australia:
- It continues to grow under Australian investment rules
- You can access it from age 60 (or your preservation age — 55–60 depending on birth year)
- It becomes subject to Australian FIF (foreign investment fund) rules if you become an NZ tax resident — complex
- ATO charges fees on inactive accounts and may eventually absorb small lost accounts
For balances over AU$10,000, getting specialist cross-border tax advice before deciding is usually worthwhile.