WA Super News

Your KiwiSaver is lonely back in New Zealand

13/06/2019

New Zealand is a super-interesting place. It has the world’s steepest residential street¹. You’ll find it in Dunedin where, up until recently, it was home to the annual Jaffa Race.

Just picture it: 75,000 Jaffas rolling down a street. It also has the world’s longest place names: Taumatawhakatangi­hangakoauauotamateaturipukakapikimaungahoronukupokaiwhenuakitanatahu². Whoa! That name ischocka! Speaking of Kiwi jargon and accents, the New Zealand accent has just been voted the world’s sexiest. But as interesting as the country is, many Kiwis make the boring trek to Australia.

And there it is. Sorry. This is an article for superannuation, so the boring had to come. But if you happen to have hailed from Dunedin or near Taumata or anywhere in Aotearoa and are now living in Oz, this is good boring.

Australia and NZ street sign image web 11

 Import your super to Australia

The good bit is that you don’t have to leave your hard-earned super in New Zealand. You can transfer your retirement savings from your KiwiSaver scheme to WA Super, one of the few Australian super funds that accepts them. This is doubly good because the amount may be used as a deposit for your new home under the First Home Super Saver scheme (FHSS), subject to certain conditions.

To transfer your KiwiSaver to WA Super

You must:

  • be a WA Super member*;
  • have an Australian Tax File number (TFN);
  • have left New Zealand and permanently reside in Australia;
  • be transferring the whole balance of your KiwiSaver scheme and not partial amounts; and
  • obtain from your New Zealand KiwiSaver fund their transfer form and fulfil any of their requirements**.

 More information can be found here

It’s often a good idea to consolidate your superannuation accounts. It usually means fewer fees and charges, and it’s easier to keep track of your savings. So, as interesting as New Zealand is, don’t leave your money stranded across the ditch. Call 08 9480 3500 today (in your oh-so-sexy accent) to find out more or you can email info@wasuper.com.au

* If you’re not a WA Super member, it’s easy to join and then you can do the transfer.

** If your New Zealand fund cannot provide you with a transfer form, then we can provide ours. Please call us on 08 9480 3500 to request one.

 


Information in this article is general in nature and doesn’t take into account your personal objectives, situation or needs. Before making a decision about WA Super, read our product disclosure statement at wasuper.com.au. 
WA Local Government Superannuation Plan Pty Ltd ABN 64 066 797 162, AFSL 269006, as Trustee for WA Local Government Superannuation Plan ABN 18 159 499 614 (trading as WA Super).

¹ www.guinnessworldrecords.com. 
At the time of this content been written, New Zealand had the world’s steepest street. But on 16 July 2019, Harlech Street in Wales was named the steepest.

 ² www.worldatlas.com

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