Information

Transferring your UK pensions fund to New Zealand

Transferring pension funds from the UK to New Zealand can often be a complicated and time consuming process.

Many people living in New Zealand - either those originally from the UK or New Zealanders returning home - have pensions domiciled in the UK. Often they've chosen to leave them there, either because of the complexity involved and time spent transferring these funds to New Zealand, or because they simply haven't considered transferring them.

Now transferring is easy. Sterling Pensions Transfers Ltd provide an easy and affordable service that keeps you in control of your retirement savings.

If you don't you may be taxed on unrealised capital gains

UK pension plans may be affected by New Zealand taxation under Foreign Investment Fund (FIF) regulations.

Under these measures the investment growth in certain pension policies must be reported as taxable income in New Zealand each year. You will be liable for New Zealand income tax on this amount.

There are some exemptions

The FIF rules do not apply to some private annuities and employment-related superannuation schemes but the exemption rules are complex and you may inadvertently cancel the exemption if you do not know the rules.

There may be a four year window

New residents of New Zealand may qualify for the four year window which allows you time to transfer your fund to New Zealand without the FIF rules applying. If you have been in New Zealand nearly four years then you might want to call us now.

It is not too late

If you have been in New Zealand longer than four years then it is not too late to transfer your pension now and stop the FIF rules applying. You may have a tax liability that needs setting for the period between four years of being in New Zealand and the date of transfer, but we can assist with you getting advice on any such tax liability.

Professional Advice

As with any tax or legal issue, we urge you to seek professional advice on your specific situation. We can help arrange this for you if you wish.

Companies we use

  • Tower
  • OnePath
  • Partners Life
  • Fidelity
  • AMP
  • NIB
  • AIA

 

Call Sterling Pensions on P: 0800 42 86 69 P: +64 4 298 6561 M: +64 27 209 4617

 
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