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New Zealand has become a popular destination of choice for many high-net-worth UK migrants. We will help you identify your investment goals, and risk profile and facilitate transferring your UK pension to a Qualified Recognised Overseas Pension Scheme (QROPS).
Fill out this form to request a callback or make an enquiry.
Making the Decision – Should You Transfer Your UK Pension Scheme to New Zealand?
If you have a UK pension, have emigrated to NZ and are thinking about transferring your UK pension to NZ, then it’s important to know what the risks and benefits are in doing so.
In some instances, it might not be in your best interests to transfer your UK pension. Everyone’s situation is different and therefore you need to get sound advice from trusted advisers to ensure that you are making the right decision.
Tax Advice – New Zealand Tax Treatment of UK Pension Schemes and Benefits
Since 2014, a 14-year exemption period generally applies to lump sum transfers if you meet the IRD criteria. This exemption period starts from the date that you become a New Zealand resident and runs until the end of 48 months (from the beginning of the month after the one in which you become a New Zealand resident). If you receive a lump sum within the first four years of becoming a New Zealand tax resident, you won’t have to pay tax on the amount you receive if you meet the other criteria.
After the 4-year exemption period, you will be liable to pay tax on any lump sum transfers to NZ. We recommend seeking advice from a tax specialist who can assist in estimating your tax liability and identifying the best options for you. If required, we can recommend several external providers whom we have successfully worked with in the past.
Our Process
- Obtain information about your pension provider and the type of pension scheme you’re invested in.
- Arrange a meeting so JMI Wealth can understand your investment goals and the appropriate risk profile.
- Provide you with a tailored investment proposal that will include the full process and confirm all costs.
- Assist you with the completion and submission of all paperwork required by your UK provider.
- Oversee the transfer of the funds, liaising with you and your foreign exchange provider.
- Provide ongoing monitoring, recommendations and reporting on your portfolio.
Contact Us
Lynette Ball and Sue Richards have experience in NZ, South Africa and London, and can work with you to repatriate your UK funds. We are both Investment Advisers with JMI Wealth and have the CFPcm (Certified Financial Planner). This symbol of excellence in financial planning represents the highest achievement within our profession.
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| Lynette Ball | Sue Richards |
| +64 27 569 8694 | +64 27 339 1167 |
| [email protected] | [email protected] |
Looking for more information? Send us an enquiry.