The process, start to finish
1. Choose your new provider and fund
This is the part worth spending real time on — comparing fees, fund type, and performance across the whole market rather than just moving to whatever your bank offers.
2. Apply directly with the new provider
You apply directly to the provider of the scheme you want to join. Most providers now do this online, and you'll usually just need your IRD number and a valid NZ ID, with the form taking less than 10 minutes to complete.
3. Your new provider handles the rest
This is the part people often don't realise: there's no need to contact your current provider — your new provider handles the transfer for you. Behind the scenes, your new provider arranges the transfer of your savings from your old scheme to the new one, and Inland Revenue is notified so your contributions start being routed to the new provider going forward.
4. Wait for the balance to transfer
The process takes about two weeks, though some providers quote up to 2–3 weeks. You'll typically get a notification once it's done.
If you'd rather not navigate the switch alone, an Investly adviser can guide you through each step — and start with a free review of your current KiwiSaver, so you can see how you compare and explore every option available to you before deciding. There's no cost and no obligation.