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In a joint media release issued on 16 July 2009, the Australian Treasurer, Wayne Swan, and the New Zealand Finance Minister, Bill English, announced that they had signed a Memorandum of Understanding to establish a trans-Tasman retirement savings portability scheme. This will enable Australians and New Zealanders to transfer their retirement savings across the Tasman when they move. It will make it easier for people to move freely between the two countries and help to return people's "lost" retirement savings. The two countries will now work towards enacting the legislation necessary to give effect to this new regime.

For a copy of the joint media release, No 2009/084, 16 July 2009, go here


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