What do I do when I change my employment?
Staying with one employer for an entire working life is the exception rather than the rule. So here’s what you need to do with your SSRSS accounts when you change employment.
Moving permanently to another employer
Going on secondment
Overseas postings
Emigrating overseas permanently
Travelling overseas
Leave of absence
When you change employment, if you're eligible, you will be automatically enrolled in KiwiSaver (or you may already be a KiwiSaver member). If automatically enrolled, you can opt out of KiwiSaver during weeks two to eight of your new job.
If you remain in KiwiSaver you must contribute 3%, 4% or 8% of your gross pay to KiwiSaver, and while you contribute you will receive the KiwiSaver member tax credit. (If you are new to KiwiSaver you will also receive the $1000 Government kickstart.)
After 12 months' KiwiSaver membership you may choose to take a contributions holiday.
The effect of changing jobs will otherwise differ depending on whether or not your new employer is a participating employer (see below).
If you change jobs to another participating employer, you will still be automatically enrolled in KiwiSaver (if you are not already a member of KiwiSaver). You will have several options:
- You can opt out of KiwiSaver and simply continue to save with SSRSS and receive the SSRSS employer subsidy (if eligible).
- You can stay in KiwiSaver and contribute to both SSRSS and KiwiSaver. You will receive the SSRSS employer subsidy (if eligible) and the KiwiSaver member tax credit, but you will not receive the KiwiSaver employer contribution.
- You can stay in KiwiSaver and suspend your SSRSS contributions. While you contribute to KiwiSaver you will receive the KiwiSaver member tax credit and the KiwiSaver employer contribution.
- You can stay in KiwiSaver, close your SSRSS account and transfer the total value of your savings to your KiwiSaver scheme. Call your scheme provider for details.
If you want to continue contributing to SSRSS you need to fill in a Notice of transfer to a new SSRSS participating employer (PDF-34KB) and give it to your new payroll officer. Use the form to tell your new employer what level of contributions to deduct from your pay.
If you change jobs to a non-participating employer, you will become an unsubsidised member of SSRSS. You can continue to save through the SSRSS, making voluntary contributions by arrangement with your SSRSS provider, or you can suspend contributions. Your existing SSRSS contributions (plus any employer subsidy and earnings on your account) will remain in the SSRSS and be available when you become eligible for a benefit. You can access your voluntary contributions at any time (subject to a maximum of two withdrawals per scheme year and a minimum withdrawal amount).
You will be automatically enrolled in KiwiSaver (if you haven’t already joined a KiwiSaver scheme), unless your new employer is an "exempt employer" for the purposes of KiwiSaver. If you remain a member of KiwiSaver, while you contribute you will qualify for KiwiSaver employer contributions and member tax credits.
You may be able to transfer the total value of your savings to another locked-in superannuation scheme. The new scheme must permit transfers in and your SSRSS scheme provider must be satisfied that the new scheme prohibits withdrawals before age 50 to at least the same extent as SSRSS. All KiwiSaver schemes are automatically approved for transfers from SSRSS. If you transfer to another superannuation scheme or to a KiwiSaver scheme your SSRSS membership ceases permanently.
If you are over 50, also see I'm over 50 and have left the State sector
You can stay in the SSRSS if you go on secondment.
If you stay on the payroll of your pre-secondment employer, arrangements continue unchanged and your employer subsidy continues.
If you move to the payroll of a secondment employer who is also a participating employer, it can continue to make employer contributions for you and arrange for your contributions to continue unaffected. The KiwiSaver automatic enrolment rules will apply (unless your secondment period is 28 or fewer days) and you will have the choices available under moving to another participating employer. Fill in a Notice of transfer to a new SSRSS participating employer (PDF-34KB) and give it to your new payroll officer. Use the form to tell your new employer what level of contributions to deduct from your pay.
If your secondment employer is not a participating employer, you will be ineligible for SSRSS employer contributions while seconded, but you can continue to make your contributions (by arrangement with your SSRSS provider) and these become voluntary contributions to the SSRSS. If you do not make arrangements with your SSRSS provider, your contributions will automatically cease. The KiwiSaver automatic enrolment rules will apply (unless your secondment is 28 or fewer days) and you will have the choices available under moving to a non-participating employer. On your return to your pre-secondment employer, SSRSS arrangements can be resumed as before.
The KiwiSaver automatic enrolment rules will not apply when you return to your pre-secondment employer.
As with a secondment, you can stay in the SSRSS if you are posted overseas.
If you continue on the payroll of your New Zealand employer, arrangements continue unchanged.
If you move to the payroll of your overseas employer, you can continue in the SSRSS as an unsubsidised member, making voluntary contributions, or you can suspend contributions. Talk to your scheme provider about the best way to make contributions from overseas. On return to your participating employer in New Zealand you will be automatically enrolled in KiwiSaver and you will have the same choices available as someone who is moving to another participating employer.
If you emigrate permanently you can withdraw the total value of your savings 12 months after you emigrate.
Alternatively, as soon as you emigrate, you can apply to transfer the total value of your savings into another locked-in superannuation scheme overseas. The trustees of the other scheme must allow the transfer, and your SSRSS scheme provider must be satisfied that the other scheme prohibits withdrawals before age 50 to at least the same extent as the SSRSS.
If you leave your State sector employer to travel overseas, you can continue to make voluntary contributions to the SSRSS, or you can suspend your contributions. Your pre-travel contributions and employer subsidy will remain in the SSRSS until a benefit becomes payable. Talk to your scheme provider about the best way to make contributions from overseas.
If, on your return, you recommence employment with a participating employer then you will be automatically enrolled in KiwiSaver and you will have the same choices available as someone who is moving to another participating employer.
If you take leave of absence from employment without pay, you can continue to make voluntary contributions as an unsubsidised member. Or you can suspend your contributions (this will happen automatically unless you advise your SSRSS provider otherwise).