Once you have completed the Fact Find and Letter of Authority, we gather all the necessary information: We contact your UK Pension provider on your behalf, and talk with you about your investment goals and risk profile. Like to get started and request your free report? Click here.
Next, we present a detailed report on your transfer options - the benefits, risks, and QROPS fund recommendations based on your risk profile and investment goals. Comprehensive information, including associated fees should you choose to proceed, and expert advice to help you make an informed decision.
We implement your chosen QROPS fund to enable the transfer from your UK Pension provider. And importantly, we keep you informed - we get in contact on the day the transfer of funds is completed, and also send you a detailed confirmation of the financial transaction.
We're here for the long term. We keep you informed of portfolio performance and offer regular reviews - our role is to check in on any big changes in your life or goals, to ensure your risk profile is kept up to date and your portfolio is still aligned to your needs.
We offer a free personalised report to help you understand and make an educated decision that relates to your personal circumstances pension transfer.
In short, with your permission, we contact your UK pension provider to gather all necessary information. We will then report back to you with your free Pension Transfers personalised report, which will explain the advantages and disadvantages about the transfer, and provide recommendations including information about associated fees should you choose to proceed, for your consideration.
Under current rules, there is a four-year transfer window from the first day you become tax resident, during which time you can make the transfer to New Zealand without any NZ tax obligations. If you transfer after this four-year exemption period, the taxable income on the transfer can range between 4.76% to 100% of your pension value, assessable at your marginal tax rate. So it is best to consider your timeframes to help eliminate or minimise your tax situation. We also recommend talking to a tax specialist to get a clear understanding of the tax treatment of your UK pension scheme entitlements in New Zealand.
To request a free, personalised report with Pension Transfers, all we need is the following information and your authority to contact your UK Pension transfer provider – then we do the legwork and information gathering for you. To get request your free report with Pension Transfers click here.
The minimum age you can access up to 30 percent of your pension is 55 years old. It’s also important to ensure that your chosen QROPS is aligned with your plans with regard to withdrawing funds. Withdrawal rules are governed by the HMRC (Her Majesty’s Revenue & Customs), and if they are breached, can have serious tax implications.
Every UK Pension Transfer is unique and therefore the time involved varies. Typically, the process takes three to six months, and often this depends on the time it takes for the UK Pension provider to arrange transfer papers and confirm transfer figures.
This is up to you. We can hold your UK Pension in GBP for as long as you like, giving you currency control. Or if you would like to transfer it to NZD once the funds arrive, we can arrange this for you.
As the transfer process can take some time, and there is little warning as to when the funds will make the trip, we often recommend transferring in GBP so that you can then transfer to NZD to reduce currency exchange risks. You can also choose to exchange your funds from GBP to NZD in bundles over a period of time at no additional cost - this is called Dollar Cost Averaging and can be a smart strategy to minimise currency risk.
Yes, you can transfer your UK Pension to a QROPS in GBP. This gives you control over when you make the currency exchange from GBP to NZD.
The money is in a QROPS-approved Trustees Scheme, therefore at no time do we control it. When you transfer, you will have the right to your money within the QROPS rules. The rules that govern pension entitlements in both the UK and New Zealand are designed to protect your interests.
A QROPS is an overseas pension scheme designed to accept UK pension transfers, as the scheme meets certain requirements that are set by the HMRC (Her Majesty’s Revenue & Customs). If you decide to transfer your UK pension to New Zealand, and don’t transfer it to a QROPS, you may face unauthorised charges.
Absolutely. At Pension Transfers, we are not ‘tied’ to one fund provider. We have a range of options to make recommendations from, based on your retirement planning objectives, risk profile and investment horizon.
Absolutely. If at any time, or on receiving your six-monthly investment report, you would like to make adjustments, we can change your investment allocation to suit your needs.
Yes, and this is recommended for your retirement savings. We can arrange regular contributions towards your pension fund starting from $100 per month, which can be split amongst your investments.
Our QROPS providers have online portal access giving you full transparency about all transactions. You will get monthly return updates, access to advice as and when required and will be provided with a six-monthly or annual review (your preference), making sure your investments are on target with your personal risk profile.
We have specialised in UK Pension transfers since 2000, and to date have transferred more than $NZD600 million of pension transfer funds.
We are wholly focused on providing UK Pension transfer expertise and advice. Helping NZ residents with UK Pensions to make an informed decision for their UK Pension transfer; to choose the right QROPS for their needs, financial future and retirement planning, is what we do.