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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Scheme participant transfer rules for KiwiSaver, superannuation, and workplace savings schemes

182: Transfers from KiwiSaver scheme

You could also call this:

"What happens when you switch KiwiSaver schemes and what information gets shared"

Illustration for Financial Markets Conduct Act 2013

When you transfer from a KiwiSaver scheme to a new scheme under sections 179 to 181, the provider of your old scheme must give some information to the provider of your new scheme. This information includes your name, address, and date of birth, as well as your tax file number. The provider must also give the date you first became a member of a KiwiSaver scheme and the date you first contributed to it.

The provider of your old scheme must also tell the provider of your new scheme about the money that has gone into your old scheme. This includes how much you have contributed, how much the government has contributed, and how much your employer has contributed. You can find out more about what a provider is by looking at section 5 of the KiwiSaver Act 2006. The provider of your old scheme must give the provider of your new scheme any other information that the Commissioner of Inland Revenue requires.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091187.

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Money and consumer rights > Savings and retirementBusiness > Industry rules
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Part 4Governance of financial products
Governance of managed investment products: Scheme participant transfer rules for KiwiSaver, superannuation, and workplace savings schemes

182Transfers from KiwiSaver scheme

  1. This section applies to an old scheme if it was a KiwiSaver scheme.

  2. The provider of the old scheme must give the following information to the provider of the new scheme in respect of a scheme participant (A) who transfers under sections 179 to 181:

  3. A's name, address, and date of birth; and
    1. A's tax file number; and
      1. the date on which A first became a member of a KiwiSaver scheme and (if known and different) the date on which A first contributed to a KiwiSaver scheme; and
        1. (if known) the aggregate amounts of each of—
          1. A's contributions to the old scheme; and
            1. the Crown contribution to the old scheme in respect of A; and
              1. any employer contributions to the old scheme in respect of A; and
              2. the name, address, and tax file number of both the provider and the old scheme; and
                1. any other information that the Commissioner of Inland Revenue requires the provider of the old scheme to give to the provider of the new scheme.

                  1. In this section, provider has the meaning set out in section 5 of the KiwiSaver Act 2006.

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