I changed banks from ANZ to NZCU before starting my new job. I had over $2000 in my KiwiSaver account with ANZ ... I now have two KiwiSaver accounts, one for over $2000 with ANZ and one with around $900 with NZCU. Can I transfer the money from the ANZ to NZCU?
It sounds like you signed up to the NZCU KiwiSaver Scheme when you opened your new bank account with them, but somewhere along the line communication between the providers has broken down so you are now running two KiwiSaver accounts, and incurring two lots of fees.
Inland Revenue keeps a record of KiwiSaver members and processes employee and employer contributions as well as the annual Member Tax Credits.
I asked for their comment and an IRD spokesperson replied: "KiwiSaver members should only have one account. While scheme providers aren't obliged to ask a customer if they already are a KiwiSaver member, most do. When a scheme provider enrols a new customer in KiwiSaver, they would receive a notification from Inland Revenue that a transfer of funds is required if that person is already a KiwiSaver member."
NZCU uses Fisher Funds Management as their KiwiSaver provider, so you will now be in one of their KiwiSaver funds.