subject: Guidance For Pension Transfers While Emigrating To New Zealand [print this page] If you are emigrating to New Zealand and have a pension in the UK you need the help and guidance of Pension Transfers. We will ensure that you maximise the opportunities that are available to someone moving to New Zealand.
When emigrating to NZ you will have 2 options with your UK pension. You can leave your pension in the UK and receive benefits when you retire. However, any pension paid from the UK would be subject to tax in New Zealand. Alternatively, when you emigrate to NZ you can transfer your pension with you, moving it to a NZ pension. For people who emigrate to New Zealand, transferring your pension could be the better thing to do as you can receive your benefits tax-free.
Pension Transfers will produce a Free Pension Transfer Analysis Report that will investigate whether you would benefit from a move your UK pension to New Zealand, where benefits can be taken TAX FREE. You can also access 40% of your pension fund in New Zealand Tax Free before you retire. You will also have currency control on the transfer, allowing you to keep the pension fund in Sterling under your new NZ pension when moving the pension to New Zealand from the UK.
If you are going to live in New Zealand, you may prefer to have the pension in the country that you intend to retire. The New Zealand pension system may offer you better opportunities as you will be living in New Zealand.
When you move to NZ, you will be offered access to the Kiwi Saver pension with your New Zealand job. Your New Zealand employer will make contributions to this pension scheme, along with your contributions. You may like to keep all your pensions in one pot when living in New Zealand, so moving your pension to NZ from the UK will allow you to achieve this objective. Your Kiwi Saver will be portable, allowing you to keep your pension with you in the various jobs in New Zealand. Most NZ jobs will offer you access to the Kiwi Saver pension scheme.
You may not have realised the added pension benefits now that you are considering immigration in New Zealand. To recap, immigration in NZ will allow you to transfer your pension with you and receive benefits TAX FREE. You can also access 40% of your pension fund in New Zealand Tax Free before you retire.
Commissioning a FREE report from Pension Transfers will give you all the facts you will need to make an informed decision on whether you would like to transfer the UK pension with you when you emigrate to New Zealand. With regulated offices in both UK and New Zealand, we are best placed to provide the best advice for you when you decide to emigrate to NZ.
