Transferring to a new provider

If you're getting advice on transferring from one KiwiSaver scheme to another, ask your adviser or sales representative whether he or she can compare the scheme being offered to your existing scheme.

If they can compare, the comparison needs to be clear, reasonable and balanced and can't just focus on the benefits of changing, for example "the new product is cheaper".

If they can't compare, they need to tell you this, and explain in general terms the adverse consequences that might occur as a result of changing.

If you are seeking advice that's tailored to your personal situation, comparisons of your current and the potential new KiwiSaver scheme can only be provided by an Authorised Financial Adviser.

Further information that you might find helpful:

You can find out more about transferring from one KiwiSaver scheme to another, or about changing between investment funds, at Sorted’s ‘managing your KiwiSaver account’ page or through the Inland Revenue’s ‘change scheme’ page.