UK Pension Transfers
Looking to transfer your UK Pension to NZ?
Whether you are a UK migrant now living in New Zealand or a Kiwi who has returned from time spent working in the UK, G3 Financial Freedom are experienced in pension fund transfer and can help you with transferring UK pension benefits to New Zealand.
G3 Financial Freedom Limited has access to Qualifying Recognised Overseas Pension Schemes (QROPS) approved for New Zealand by Her Majesty's Revenue & Customs, to complete pension transfers from the United Kingdom.
There are no tax deductions upon exit from UK registered pension schemes for transfers to New Zealand which is one of the main reasons clients transfer pensions to New Zealand. However, there are important considerations to be made when considering a transfer and certain rules which have to be abided by to ensure the tax free status.
The team at G3 Financial Freedom Ltd believes that transferring your retirement savings from the UK is definitely not a one off transaction. Providing for your retirement is important and we will work with you to ensure you make the right decision dependent upon both your personal circumstances and any legislation around your pension rights in the UK. We believe in establishing long term relationships to ensure that your pension benefits continue to be monitored in line with your retirement goals.
Phone 07 5715333 to learn more or email us here
Some Benefits of transfer
- Death Benefits are invariably more favorable for pensions held in New Zealand; your full fund will go to your estate in the event of your death;
- Exchange rate issues in retirement will not become a problem, bank transfer fees over a twenty year retirement with a monthly annuity can also be costly!
- Ongoing reviews and monitoring of your retirement portfolio – no losing track of your fund through company mergers etc
- No need to setup an annuity at retirement – far greater accessibility to your funds at retirement.
- There can be significant tax advantages;
- Ongoing, retirement planning relevant to your needs.
Phone 07 5715333 to learn more or email us here