Pension Transfers Ltd – UK to New Zealand

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IIA Sponsor - Pension Transfers Ltd

The IIA welcomes Pension Transfers as a Sponsor and we look forward to working closely with them to further grow their business. Pension Transfers have a long established reputation in providing pension transfers and financial advice for clients moving from the United Kingdom to New Zealand.  Customer engagement and satisfaction is at the heart of this company’s ethos. I would encourage IIA members and any businesses who have clients moving to New Zealand from the UK, to directly engage with Pension Transfers in forming alliances and partnerships for this area of expertise and market.

IIA Chairman – Chris Galway

What you should know about Pension Transfers

Pension Transfers have been specialising in transferring pension benefits to New Zealand since 2000. We help NZ Expats and migrants relocating to New Zealand from the UK. Our service is ‘hands on’ providing personalised advice making sure the client understands the complete process, transparency is key in all regards.

A QROPS (Qualifying Recognised Overseas Pension Scheme) is a scheme established outside the UK that is broadly similar to a UK Registered Pension Scheme. That’s the vehicle we use to complete a UK pension transfer to New Zealand. It is an overseas pension scheme that has met the requirements of the HMRC, that can receive the transfer of UK Pension Benefits without penalties for unauthorised payments.

Some of the benefits include:

No UK tax payable on pension income.

Transferring your pension out of the UK to a QROPS means that you will no longer be paying UK tax of up to 45% on your pension income. With a QROPS it may be possible to pay no tax depending on your country of residence

No tax on death

Although UK rules have changed, your beneficiaries will still have to pay tax at their marginal rate if you die over the age of 75. QROPS have no tax on death at any age.

No lifetime allowance

Currently in the UK the lifetime allowance is 1 million GBP and this was recently reduced from 1.25 million GBP. This has been reducing incrementally for several years now from 1.7 million GBP. QROPS have no lifetime allowance so your pension can grow to any size without a tax change.

Currency and investment options

QROPS can give the ability to hold and invest the funds in GBP or NZD, whereas a UK scheme may be restricted to GBP sterling. Some investment options may be available that would not be available in a UK scheme.

Pension Transfers ‘Customers Come First’ Service

Your clients will get the best advice and service from the Pension Transfers team based in the UK and NZ.

If you have clients who have a private pension and are relocating to New Zealand, we can assist them!

Free Report for your Clients

Pension Transfers can provide your clients with a free Pension Transfer report by going to www.pensiontransfers.co.nz and clicking on the blue “Get Started” tab. They can then complete their details as best they can.

Watch our video and learn more

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