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How do I transfer my Australian Superannuation to the Kernel KiwiSaver Plan?

The below outlines the steps required to transfer an Australian superannuation account to the Kernel KiwiSaver.

Lovelyn avatar
Written by Lovelyn
Updated this week

The first step is to contact your Australian super provider and see if they allow you to transfer to KiwiSaver, as they must be an APRA-regulated superannuation fund.

Transferring your Australian superannuation funds to a Kernel KiwiSaver account is a multi-step process that involves coordinating with both Kernel and your Australian superannuation provider. Each Australian provider may have different requirements or forms for trans-Tasman transfers, so it is essential to gather the necessary information from them before proceeding.

Required Kernel KiwiSaver Account Details

You may need to provide the following Kernel KiwiSaver scheme details to your Australian superannuation provider:

  • KiwiSaver Scheme Name: Kernel KiwiSaver Plan

  • KiwiSaver Registration Number: KSS/13288

  • KiwiSaver Membership Number: Your IRD or KER number

  • KiwiSaver Scheme Address: Level 4, 166 Queen Street, Auckland CBD, Auckland 1010

  • Bank Account Name: LMS o/a Kernel KiwiSaver Plan

  • Bank Account Number: 01-1839-0944765-00

  • NZBN (New Zealand Business Number): 9429047045989

  • Bank: ANZ Bank, Auckland (Queen and Victoria Streets branch)

Once you have initiated the transfer the provider will do their due diligence on Kernel and may need some further information such as a letter or document. Please let our team know which information they require and we’ll gather it for you.

Kernel typically provides the following key documentation to assist with the transfer:

  • A letter stating that Kernel will accept the transfer

  • Confirmation of your KiwiSaver account number and registration number

Make sure to relay the specific requirements from your superannuation provider to Kernel so they can prepare and deliver the required documents promptly.

Am I eligible to transfer my Australian Superannuation to the Kernel KiwiSaver Plan?

To be eligible to transfer your Australian Superannuation account to the Kernel KiwiSaver Plan you must have the following:

  • Permanently emigrated to New Zealand,

  • Transferred your entire Australian Super balance to your KiwiSaver account, and;

  • A New Zealand Inland Revenue Department (IRD) number to transfer your retirement savings to a KiwiSaver scheme.

Considerations before transferring your Australian Superannuation

Before you decide to transfer your Australian Superannuation to KiwiSaver there are a few things to consider first:

  • Your Superannuation can only be transferred from complying super funds regulated by APRA

  • The funds can't be used to purchase your first home

  • The funds can't be transferred to a third country

  • The funds can only be accessed when the member reaches 60 years old and satisfies the Australian definition of retirement

There are no limits on how much you can transfer from an Australian Super Fund to a KiwiSaver scheme but you must transfer the whole balance.

Final Steps

Once you have submitted the paperwork with your Australian fund, please contact our support team to let them know and provide an estimated balance to be transferred.

Transfers can take up to a month, so you may not hear from the team or see the money in your Kernel account for this period of time.

If you have any further questions please email our team at support@kernelwealth.co.nz.

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