Aust, NZ agree on super portability ARRANGEMENTS allowing Australians and New Zealanders to move across the "ditch" with their superannuation without paying fees have been finalised by the respective governments, Superannuation Minister Bill Shorten says. From July 1, the trans-Tasman retirement savings portability scheme will help thousands of people who cross the Tasman Sea each year to consolidate their retirement savings in their country of residence without paying fees and charges on accounts in two countries. "This scheme is an important step towards removing a barrier to labour mobility between the two countries, and supports our closer economic relations with New Zealand," Mr Shorten said in a statement on Friday. About 50,000 New Zealanders moved to Australia in the past year, and around 16,000 people living in Australia moved to New Zealand. Currently, Australians and New Zealanders working in Australia cannot take their superannuation with them when they permanently leave Australia. Australians moving to New Zealand, and New Zealanders returning home, will now be able to consolidate their Australian benefits with their New Zealand retirement savings. Similarly, New Zealanders who move to Australia will be able to bring their New Zealand retirement savings with them to Australia.