Transferring foreign super

If you're migrating or returning to Australia, it may be possible to transfer your super benefits from an overseas fund to an Australian complying fund, although you may not be able to access the funds until you retire.

Transferring foreign super 3

How to transfer foreign super

There are a number of conditions you must meet to transfer your overseas super and you may have to pay income tax. Full details are available on the ATO website.

We are generally able to accept foreign transfers, subject to the conditions that apply, and we don't charge a fee for contributions transferred to your Media Super account.

There are specific rules in place for transfers from United Kingdom (UK) pension funds, as well rules for transferring retirement savings between Australia and New Zealand.

Transfers to or from New Zealand – The Trans-Tasman portability rules

The Trans-Tasman Retirement Savings Portability scheme makes it possible for you to transfer your retirement savings from New Zealand to Australia (or the reverse) if you migrate.

Moving to New Zealand permanently

Media Super members who permanently move to New Zealand can transfer their super benefits to a nominated retirement savings account, known as the KiwiSaver scheme.

Permanently moving from New Zealand to Australia

Please note, Media Super is not able to receive KiwiSaver transfers. If you are a Media Super member looking to transfer retirement savings to an Australian super fund, please visit the KiwiSaver website for other options available.

Full details of the Trans-Tasman portability rules are available on the ATO website.

Transfers from UK pensions

There are additional special rules that apply to transferring funds from UK pension accounts to Australia.

Any money transferred from a UK registered pension scheme to an Australian super fund may be subject to a penalty tax in the UK, unless the Australian fund is a 'qualifying recognised overseas pension scheme' (QROPS). Any transfer of UK pension funds is also subject to the UK lifetime limit allowance.

Please note that Media Super is not a QROPS, so we can't accept UK pension transfers without the penalty tax applying.

Transfers from other countries

To learn more about transferring funds from a retirement account in countries other than New Zealand or the United Kingdom, please visit the ATO website.

Before making a transfer from a foreign account

The rules vary from country to country and can be complex. Before you make a decision to transfer any retirement savings from an overseas account, we recommend you seek tax and financial planning advice from qualified professionals who have specialist knowledge regarding the relevant country.

Detailed information is available on the ATO website.

We're here to help

Our team can also answer questions about transfers from a particular country or information about the process.