How to transfer your Super to a KiwiSaver scheme 19 August 2013

19 August 2013
How to transfer your Super
to a KiwiSaver scheme
If you’re living in New Zealand on a permanent basis, you might be
considering transferring your Australian super benefit to your KiwiSaver
account. And although we’d hate to lose you, we’re committed to acting in
the best interests of our members. So to make it easier for you, this document
provides an explanation of the process, along with a step by step guide.
2
Keep in mind though, if you’re planning to return to Australia at any stage you
may want to consider leaving your Australian super benefit in a high performing
super fund, like HOSTPLUS.
If you’re unsure, simply give us a call on 1300 HOSTPLUS (1300 467 875) and
we’d be happy to help.
Contents
Trans-Tasman portability scheme ................................................................................................................................................ 4
Introduction...................................................................................................................................................................................... 4
Details.............................................................................................................................................................................................. 4
How to transfer your benefit – step by step guide ....................................................................................................................5
3
Your checklist..................................................................................................................................................................................7
This information booklet has been prepared by HOSTPLUS Pty Limited as the Trustee of the HOSTPLUS Superannuation Fund (the ‘Fund’). The information
contained in this guide is general information only and is not intended to contain any recommendations, statements of opinion or advice. It does not take into
consideration your objectives, financial situation or needs. You should obtain a copy of the HOSTPLUS Product Disclosure Statement and consider the information
contained in the Statement before making any decision about whether to acquire an interest in HOSTPLUS. Issued by Host-Plus Pty Limited ABN 79 008 634 704,
AFSL No. 244392, RSEL No. L0000093, HOSTPLUS Superannuation Fund ABN 68 657 495 890, RSE No. R1000054, MySuper No. 68657495890198. For further
information on Chant West ratings visit www.hostplus.com.au/members/calculators/chant-west-disclaimer. Any reference to the law is as at 22 August 2013.
Trans-Tasman retirement savings portability scheme
Introduction
Until recently, superannuation laws in Australia did not allow
Australian and New Zealand citizens living in Australia, who
left Australia indefinitely, to either withdraw their super
on departure prior to reaching Australian preservation age
(between 55 and 60, depending on the individual’s date of
birth), or to move their benefits to a super fund in their
new country.
Recent legislation (known as “Tasman retirement savings
portability scheme”) assists Australians and New Zealanders
to streamline their financial affairs when they cross the
Tasman, consolidate their retirement savings in their
country of residence and avoid paying unnecessary fees
and charges on multiple accounts held in the two countries.
Bringing your KiwiSaver savings to HOSTPLUS
HOSTPLUS is not required, by law, to accept money from a
KiwiSaver scheme.
4
That is, it is voluntary for providers of Superannuation
products to accept transferred retirement savings from
New Zealand. This applies to funds receiving a New Zealand
sourced amount directly from a KiwiSaver scheme, as well
as to funds receiving a rollover from another complying
superannuation fund with New Zealand sourced amounts
within it.
If, in the future, HOSTPLUS decides to accept amounts
from a KiwiSaver scheme we will communicate it to
all members.
Transferring your Australian superannuation to a
KiwiSaver scheme
As your super benefit is leaving the Australian
superannuation system and being sent overseas, we need
to make sure that all requirements have been met. The
requirements are that:
• you have emigrated permanently to New Zealand;
• we’ve received an Australian statutory declaration stating
that you have permanently emigrated to New Zealand, as
well as proof of residence at an address in New Zealand;
• you’ve requested and consented to the payment of the
whole of your withdrawal benefits to a KiwiSaver scheme;
• you have opened a KiwiSaver scheme account;
• you have provided the KiwiSaver scheme’s name and
account number into which your super benefit is to be
paid; and
• the KiwiSaver scheme provider has confirmed they will
accept the payment.
! Important: Australian-sourced retirement savings
held in KiwiSaver schemes:
• may not be withdrawn to purchase a first home;
•may only be accessed when you reach age
60 and satisfy the Australian definition of
retirement at that age; and
• may not be transferred to a third country.
How to transfer your benefit – step by step guide
Please follow the steps below if requesting a transfer of your
HOSTPLUS account balance to a KiwiSaver scheme:
Step 1: Complete the application form
Please contact our service centre on +61 (3) 9624 7370
between 8am – 8pm A.E.S.T. and request the form to
transfer your HOSTPLUS account balance to the applicable
KiwiSaver scheme. Once you have received the form please
make sure you complete all mandatory fields. If your form is
incomplete, we may not be able to process your request.
Step 2: Provide supporting documentation
To transfer your HOSTPLUS account to your KiwiSaver
account, you’ll need to provide the following documents:
(a) Proof of identity
In order to prove your identity, the documents you provide
must be certified.
How to certify documents
To certify a document, please take the original identification
document and a photocopy of both sides of the original
document to an authorised person.
The authorised person must:
• write in English on the photocopies: ‘This is a true and
correct copy of the original’ and
• write their name, address, occupation, date and
registration number (if applicable) and sign each page.
a) Proof of identity
c)A signed Australian Statutory Declaration stating you
have permanently emigrated to New Zealand
We’ve included some important information below to help
you complete each of these steps.
! Please note: Certified photocopies need to be
clear and legible. Certified documents that have
been faxed or photocopied cannot be accepted.
We are unable to accept certification on the
reverse side of the photocopied document.
5
b) Proof of residence in New Zealand
Who can certify your original proof of identity document
in New Zealand?
You can get your documents certified by any of the following:
• Australian Consular Officer or Australian Diplomatic Officer
(within the meaning of the Consular Fees Act 1955)
• Judge of a court in an overseas jurisdiction
• Notary Public
• Police officer of an overseas force
• Registrar, or Deputy Registrar, of a court in an overseas
jurisdiction
We also require evidence of the certifier’s status. For
example, for a Police Officer: details of their police
badge number.
What documents do I need for proof of identity?
A certified copy of a current driver’s licence or
current passport.
(b) Proof of residence in New Zealand
If the document you‘ve used to prove your identity (drivers
licence or passport) doesn’t have your current address on it,
you’ll need to provide a supporting document that includes
your address. Examples include utility bills, council rate
notices or a bank statement.
(c) A signed Australian Statutory
Declaration stating you have permanently
emigrated to New Zealand
You’ll need to complete an Australian statutory declaration
stating you have permanently emigrated to New Zealand.
Australian Statutory Declarations may be made before a
person who is able to witness Commonwealth statutory
declaration under the Australian Statutory Declarations
Act 1959 and Statutory Regulations 1993. This includes an
Australian Consular or Diplomatic Officer at the Australian
High Commission in Wellington, or the Australian ConsulateGeneral in Auckland.
6
! Important: Please note New Zealand Justices
of the Peace, solicitors etc cannot witness an
Australian statutory declaration.
Step 3: After you’ve completed your
application to HOSTPLUS
Once the appropriate form has been completed and the
correct information has been supplied; post the completed
pack to:
Locked Bag 14
Carlton South, VIC 3053
Australia
If you require further assistance please call us on
+61 (3) 9624 7370.
Your checklist
I have consulted my financial/tax adviser to determine whether the
transfer of my Australian superannuation benefit is appropriate;
I have contacted HOSTPLUS and obtained my ‘Request to transfer
whole balance of superannuation benefits to KiwiSaver Scheme’ form
I have
completed the form and have sent it to HOSTPLUS;
provided proof of identity, proof of residence in New Zealand
as well as an Australian Statutory Declaration that has been
witnessed by a person who is able to witness Commonwealth
statutory declarations;
I request and consent to the payment of the whole of my withdrawal
benefits to a KiwiSaver scheme;
I have opened a KiwiSaver scheme account;
I have given HOSTPLUS the KiwiSaver scheme’s name and account
number to which the benefits are to be paid; and
I
can confirm that the KiwiSaver scheme provider will accept
the payment.
7
I have
How to transfer your Super
to a KiwiSaver scheme
Postal address
Locked Bag 3
Carlton South VIC 3053
VIC
Level 2, Casselden Place
2 Lonsdale Street
Melbourne VIC 3000
SA/NT
Level 1, 104 Frome Street
Adelaide SA 5000
QLD
Level 11, 120 Edward Street
Brisbane QLD 4000
INH_0690_08/13
Gold Coast
Shop 110/111
Pacific Fair Shopping Centre
Hooker Boulevard
Broadbeach QLD 4218
WA
Level 2, 12 St. Georges Terrace
Perth WA 6000
ACT
Unit 6, Ground Floor
33 Allara Street
Canberra ACT 2601
NSW
Level 5, Sydney Central
477 Pitt Street
Sydney NSW 2000
TAS
Level 2, 119 Macquarie Street
Hobart TAS 7000
Phone 1300 HOSTPLUS
(1300 467 875)
Fax 1800 HOSTPLUS
(1800 467 875)
Visit hostplus.com.au
Email [email protected]