What next
- The first step in getting your Australian superannuation ready to transfer to New Zealand (once the law is passed) is to get it to a superannuation fund in Australia which will allow the process to be easy and quick.
We suggest transferring your Australian Superannuation to this fund Smartsave as from here we can easily arrange the transfer to New Zealand once the law is passed. We anticipate that trying to do the transfer with your existing Superannuation company could be both costly and a time consuming exercise. We estimate that it could cost up to $2000AUD for an Australian Financial Adviser to arrange to do the transfer for you, however you would still need to be involved in the facilitation with your Kiwisaver provider back here in New Zealand. Due to legislation a New Zealand Financial Adviser cannot give you any financial advice on Australian financial products.
Our Process
- You fill out a Letter of Authority giving us permission to get the necessary information for us to provide you with a free Aussie Super Transfer report. If you have multiple accounts with different providers we need to do this with all accounts.
- Once we have the necessary information we then send through the investment statements of our Australian super provider plus the transfer forms. Upon receipt of these we then forward these onto your existing superannuation provider and the nominated new provider. The transfer process can take anywhere between 1-4 months from our current experiences.
Transferring back to New Zealand
- Once the law is passed we will then arrange the transfer of your superannuation back to New Zealand.
- If you are a member with one of our approved Kiwisaver provider there may be no transfer charge, however if you wish to remain with your existing Australian Superannuation there will be a charge incurred.