Moving Back to NZ? What to Do With Your Australian Super
If you’ve worked in Australia, there’s a good chance you’ve got money sitting in an Australian superannuation account and for many people, it’s been left untouched for years.
So what are your options when you’re back living in New Zealand? Let’s break it down.
What Is Australian Superannuation?
Australian super is similar to KiwiSaver, but not identical. While you’re working in Australia, employers are required to contribute to your super account, and over time this can build into a meaningful balance.
The catch? Once you return to NZ, that money often just sits there, sometimes with:
multiple old accounts
ongoing fees
limited visibility or engagement
Can You Transfer Australian Super to New Zealand?
Yes, most Australian super can be transferred into KiwiSaver under a Trans-Tasman portability agreement.
However, there are some important rules:
It must go into a KiwiSaver scheme (not a regular investment account)
Once transferred, that money is locked under KiwiSaver rules
Transferred funds can’t be used for a first-home withdrawal
They generally can’t be transferred back to Australia
This means the decision should be made carefully it’s usually a one-way move.
KiwiSaver Insight
When Australian super is transferred into KiwiSaver, it becomes part of your overall retirement savings and is invested alongside your existing KiwiSaver balance.
Market movements, both in NZ and globally will affect the value of those funds once transferred. That’s why understanding:
how the money will be invested
the fees involved
how it fits into your long-term retirement plan
is more important than focusing on short-term market conditions.
What’s Involved in the Transfer?
The process usually includes:
locating all Australian super accounts
confirming eligibility to transfer
completing provider paperwork (both AU and NZ sides)
coordinating the transfer into KiwiSaver
While it’s not overly complex, it can be time-consuming, especially if you’ve changed jobs or lived in Australia for several years.
The Bottom Line
If you’ve got Australian super sitting overseas, it’s worth reviewing whether transferring it to NZ makes sense for you. For some people, consolidation and simplicity are the biggest benefits. For others, leaving it in Australia may still be appropriate.
The key is making an informed decision, not just leaving it on autopilot. Feel free to reach out if you want some free advice around the transfer of your Super to KiwiSaver.