If you chose to keep your retirement savings in mysuper as a Deferred Member when you left your employer, you can make withdrawals from your unlocked account balance.
We aim to pay or transfer your superannuation withdrawal within 15 working days of receiving your completed withdrawal form.
- Are limited to no more than four per year in any 12 month period (starting 1 July each year), with a minimum of $500 per withdrawal.
- Have a maximum cap of 80% of the Members unlocked account balance (unless the Member is exiting completely from mysuper)
- Will be declined if it reduces a Member’s unlocked account balance below $1,000.00 (unless the Member is exiting completely from mysuper)
- As at 30 September 2016 no fee will be charged for this type of withdrawal due to changes related to transition of mysuper into the Financial Markets Conduct Act 2013.
- Only members who have left their employer, who chose to keep their retirement savings in mysuper are able to request this type of withdrawal.
NOTE: No withdrawals from a Deferred Member's locked account will be made unless they are over 65 years of age (the current retirement age) but conditions do apply.
Investment Advice Disclosure
Money from your mysuper account forms an important part of your retirement savings. To ensure you reinvest your money in a way that will best meet your retirement needs, you may wish to obtain investment advice.
For investment advice relating to your specific circumstances, mysuper recommend that you consult an Authorised Financial Adviser. You can find a list of Authorised Financial Adviser in your area at fma.govt.nz (fees may apply).