Making the most of your KiwiSaver down under
April 17, 2023
The good news is that TelstraSuper can transfer your KiwiSaver balance to your super account here in Australia.
If you’ve ever worked in New Zealand chances are you have a KiwiSaver, the nation’s retirement savings scheme. Combining your balances could boost your super savings which means there should be more for you in retirement.
Generally speaking, to transfer your KiwiSaver you'll need to:
- Have emigrated to Australia;
- Have an Australian tax file number;
- Apply to your KiwiSaver provider to transfer; and
- Transfer your entire balance (partial transfers are not permitted).
Read more about transferring your KiwiSaver.
Transfer of your KiwiSaver is subject to the non-concessional (after tax) contributions cap, meaning you will generally not be able to transfer your KiwiSaver if it is more than $110,000, and you can’t transfer your KiwiSaver if your total superannuation balance is more than $1.7 million.
Your KiwiSaver provider may charge fees for the transfer of your KiwiSaver account and you may lose other benefits that apply to the KiwiSaver account so it’s important to consider any impact before your transfer. Once transferred, your KiwiSaver account will be subject to Australian superannuation legislation.
Your KiwiSaver provider may charge fees for the transfer of your KiwiSaver account and you may lose other benefits that apply to the KiwiSaver account so it’s important to consider any impact before your transfer. Once transferred, your KiwiSaver account will be subject to Australian superannuation legislation.
Any general advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice on this website , you should consider whether it is appropriate to your individual circumstances. Before making any investment decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination which is available on the Website or by calling 1300 033 166 between 8.30 am and 5.30 pm (AEST) Monday to Friday. You may wish to consult an Adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.
Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination or call us on 1300 033 166 for copies of these documents. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.