Frequently Asked Questions
Should I transfer my Australian Superannuation to New Zealand
Whilst we can't give advice surrounding Australian products, we suggest that you check as to which age you can access your Aussie super, as currently Aussie Super can be accessed at age 55 to 60, depending on when you were born. Click here for further details.
As for the tax implications, these would be discussed in our free Australian Super Transfer Report.
How long does it take to transfer Australian Superannuation
The time take to transfer Australian Superannuation is unknown at this stage as it is yet to be done, but to give you an idea, it can take 1- 4 months to transfer between providers in Australia, so transferring it to New Zealand could take some time. We suggest getting onto the process as early as possible because of the time it could take.
What are the benefits in transferring my superannuation to NZ
The main benefit in transferring your Aussie Super to NZ will be the consolidation and control of your investments in the country that you live in. There are several factors to take into account such as tax disadvantage or advantages and lastly the age at which you can currently access your super in Australia vs NZ.
Can I choose my investment
Yes you can choose your investment, as you should be able to transfer to all Kiwisaver providers. We have certain providers that we prefer, however if you chose to use a provider we do not that is fine.
Can I choose my exchange rate
Because we are unsure of the law and the rules about the transfer we could not say yes or no to this at the moment, but it would be great to be able to have some control over the exchange rate.
Under what circumstances can I not transfer my Australian Superannuation
The answer to this is going to depend heavily on the legislation but if you don't have a Kiwisaver account you will most likely not be able to transfer your superannuation to New Zealand. So you will need to open a Kiwisaver account here in NZ. We can help you to do this.