If you have recently moved to Australia as a permanent resident, new citizen, or skilled migrant, understanding superannuation is an important part of building your financial future in Australia.
Am I Entitled to Super?
Yes. Most employees in Australia — including permanent residents and new citizens — are entitled to the Super Guarantee (SG) from their employer:
- Rate: 11.5% of ordinary time earnings in FY2024–25
- Applies from your first day of employment as long as you are 18 or over (or earn more than the minimum threshold if under 18)
- Payable regardless of how long you have been in Australia
Getting Started With Super
Step 1: Apply for a Tax File Number (TFN)
Apply for a TFN through the ATO as soon as you arrive. Without a TFN, your super contributions will be taxed at the highest rate (47%) rather than the standard 15%.
Step 2: Choose a Super Fund
You can choose any complying APRA-regulated super fund. If you don’t choose, your employer will use their default fund (or your stapled fund if the ATO has one on file for you).
Good starting points for research:
- YourSuper comparison tool: Compare funds by fee and performance at ato.gov.au/yoursuper
- APRA fund list: APRA-regulated funds are listed at apra.gov.au
Step 3: Provide Your TFN and Fund Details to Your Employer
Complete a Superannuation Standard Choice Form (ATO form) or choose online through myGov/ATO.
Bringing Super From Another Country
Whether you can transfer superannuation-equivalent savings from your home country depends on the country:
- New Zealand / KiwiSaver: Trans-Tasman portability allows transfer to an Australian super fund
- United Kingdom: UK pension can be transferred to an Australian SMSF via QROPS — complex and costly; only suits larger balances
- Other countries: Generally no mechanism to transfer foreign retirement savings into Australian super directly
For most new Australians, superannuation starts fresh in Australia.
The Age Pension and Super for Migrants
Australia’s Age Pension has a residency requirement:
- 10 years of Australian residence (at least 5 years continuously) to be eligible for the Age Pension
- Super can be accessed from preservation age (60 for most people) regardless of how long you’ve been in Australia
If you arrived in Australia later in life, you may accumulate fewer years of super contributions than someone who worked their whole career here — which is why personal contributions to supplement employer SG can be particularly valuable.
Super and Returning Home
If you are a permanent resident and decide to return to your home country:
- As a permanent resident (not a temporary visa holder), you cannot claim DASP
- Your super is preserved under Australian law until you reach preservation age (60)
- You can access it at preservation age regardless of where you live
Key Facts for New Australians
- Super is taxed at only 15% (vs your marginal income tax rate) while in the fund
- Super is preserved until age 60 for most people — you cannot spend it before then
- Insurance (death, TPD, income protection) comes with most default super accounts — check your cover is active and adequate
- You can make extra personal contributions to boost your balance — government co-contributions and tax deductions may be available
For more: Super and Life Events, How Super Works, Super Fund Comparisons, NZ Citizens and Super in Australia. For advice tailored to your situation, speak with a licensed financial adviser via MoneySmart.