Can I transfer to another scheme?

Transferring to KiwiSaver

You can choose to transfer the total value of your savings to a KiwiSaver scheme at any time. If you do so, then your SSRSS membership will cease.

SSRSS Application to transfer to KiwiSaver

Moving to a job outside the State sector

If you move to a job outside the State sector, you may want to join another superannuation scheme.

You can (in these circumstances) suspend contributions and leave your money in your SSRSS scheme, where it will continue to be invested for you until a benefit is payable. Or you can continue to make voluntary contributions. Even though not fee-subsidised, the SSRSS will offer you the ongoing benefits of a negotiated fee arrangement that may not be available to you in another scheme.

Alternatively, it may be possible to transfer your SSRSS scheme account to the other scheme.

If the trustee of your SSRSS scheme is satisfied you have no intention of being re-employed by any participating State sector employer, you may transfer the total value of your savings to the other scheme, provided the State Services Commissioner approves that other scheme and the trustees of the other scheme allow the transfer. The Commissioner will only give approval if the other scheme is a registered superannuation scheme (or has equivalent status if an overseas scheme) and locks in your money to at least the same extent as the SSRSS.

All KiwiSaver schemes are approved transferee schemes, since they require stricter lock-ins than SSRSS.

If you want to transfer your savings to the other scheme, you should

  • use the relevant transfer checklist to compare the features of your SSRSS scheme with those of the scheme you want to transfer your savings to. The checklist helps ensure that you understand all the costs of making the transfer, what the rules of the new scheme are, when you can access your savings in the new scheme and how much you will have to contribute
    • AMP (PDF-91KB)
    • ASB (PDF-89KB)
    • AXA (PDF-93KB)
  • check that the other scheme allows you to transfer funds in
  • contact your SSRSS scheme provider – they will advise you about your next steps.

Your SSRSS scheme provider will then provide all the necessary information to the State Services Commissioner. If the other scheme is approved, your SSRSS scheme provider will then transfer your funds.

 

Contact the scheme providers

  • ASB - 0800 272 738
  • AXA - 0800 277 473
  • AMP - 0800 275 267

Glossary terms

Participating employer
For SSRSS purposes, refers to those employers in the State sector who have signed agreements with the SSRSS schemes' trustees, to participate as employers in the SSRSS schemes. You can find a list of the participating employers here.
Scheme provider
A company managing one of the three SSRSS schemes - they are AMP, ASB and AXA.  
SSRSS scheme
One of the three State Sector Retirement Savings Schemes (AMP, ASB and AXA) established under agreements between the State Services Commissioner and AMP, ASB and AXA.
Total value of your savings
Is the value at any time of:
- your own contributions,
- plus your employer contributions,
- plus investment returns (or losses) after tax,
- less any withdrawals made,
- less any fees charged.
The amount may be more or less than the total contributions made depending on the performance of the investment fund (or funds) you have selected.
Trustee
The entity with the legal responsibility for managing your investment in an SSRSS scheme, in accordance with the rules of that SSRSS scheme.

More glossary terms