Why Transfer

When planning your retirement in New Zealand you need to consider the benefits of transferring your pension from the United Kingdom to New Zealand. The benefits are:

TAX EFFICIENCY

If you transfer your pension to New Zealand you will not need to pay any tax when you withdraw your pension in most situations. Leaving your pension in the UK means you will pay tax when you reach retirement age and withdraw or receive your pension

EARLY ACCESS TO MONEY

You may be able to access some of your UK Pension now if you decide to bring it back to New Zealand - speak to us regarding this. If you leave it in the UK you will not be able to access any of the money until the nominated retirement age.

CURRENCY RISK

Once you reach the retirement age you do not know what the currency exchange rate will be - by bringing it back to NZ you can choose when to bring it back. We also have the ability to bring it back into a GBP denominated account and hold it until a time you wish to convert it to New Zealand dollars.

DEATH BENEFITS

If you die with your pension still in the UK your estate only receives a portion of the funds, bringing it back to New Zealand means that your estate would get the full value.

NO UPFRONT FEES

The fees that are charged for the transfer of your pension are deducted by the QROPS fund manager in New Zealand.

CONTROL

You will have much easier access and control with your funds being in New Zealand. Meaning you can change your investment strategy if you wish which also means any retirement payments do not incur massive bank fees if for example the payments were coming from the UK.