New Zealand Wide
UK AND AUS PENSION TRANSFERS
We are very well versed in evaluating options for those with UK and Australian Pensions and who are considering bringing those entitlements to New Zealand; a fluid landscape in both New Zealand and the UK means staying abreast of recent developments is a necessity.
Whilst the Australian opportunity is fairly recent, we have been very successful in quantifying the benefits and disadvantages of a transfer and, where the best option, arranging the transfer to New Zealand for UK pensions for over a decade. Our advice is provided for a fixed fee, something rare in the NZ market, and at arm’s length to any provider.
We are able to provide advice on the selection of an appropriate vehicle to house any transfer, give guidance on the tax implications (recommending that specialist opinion should be sought), background the risks associated with housing your pension in New Zealand and to provide recommendation as to how to invest the proceeds of a transfer. Where necessary and requested by our client, Rutherford Rede work with a leading UK firm to provide expert advice from an adviser in the UK which will fully comply with the rules set out by the Financial Conduct Authority (FCA, the UK’s regulator).
We have a number of options for those looking at transferring, including holding funds in foreign currency accounts.
The Australian agreement means that transferring funds must be locked into a KiwiSaver account under restricted access, while UK transferred funds are housed in a suitable Qualifying Recognised Overseas Pension Scheme (QROPS).
 A small trail commission may be received from the QROPS provider if we are involved on an ongoing basis; this will be fully disclosed to you at the time. No commission is received for the actual transfer.