UK Pension Transfers to New Zealand
Get Personalised UK Pension Transfer Advice from Compound Wealth - Providing Expert Financial Advice Across New Zealand, Based Right Here in the Bay of Plenty
Why Transfer Your UK Pension to NZ?
Simplify your finances
Consolidating your UK pension into your New Zealand retirement plan makes it easier to keep track of your savings, manage paperwork, and plan for the future - especially if you're settling in NZ for good.
Qualifying Recognised Overseas Pension Schemes (QROPS) may offer tax advantages when transferring your pension, helping you avoid unnecessary penalties and optimise your retirement income.
Potential tax efficiencies
Transferring your pension to NZ can give you more say over how your money is invested, allowing you to tailor your portfolio to suit your goals, risk tolerance, and retirement timeline.
Greater investment control
NZD-based income in retirement
Receiving your pension in New Zealand dollars means you won’t have to worry about exchange rate fluctuations, making your retirement income more predictable and easier to budget for.
UK Pension Transfer Process
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Book in a 20-minute call with us to discuss your UK Pension transfer needs.
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We will review your UK Pension and will work with you on the next steps.
This will include contacting the UK Pension Provider, completing Transfer Forms, and understanding any tax implications.
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Once all forms are submitted and the transfer is approved, the UK pension funds will be moved to the New Zealand QROPS.
We work with licensed QROPS providers to manage the transfer of your funds to arrive safely in NZ – ready for your retirement goals.
Who is a UK Pension Transfer Right for?
If you’ve worked in the UK and now call New Zealand home, maybe you're settled here in Mount Maunganui, Tauranga, or somewhere else around the country. Transferring your UK pension could help you make the most of your retirement savings.
You have a UK pension
You want to manage your retirement savings locally, with more control and flexibility.
your money working for you
You want your money in New Zealand, aligned with your lifestyle and future plans.
You’re planning to stay here long term
You would rather have your pension invested close to home than sitting offshore.
UK Pension Transfer to NZ FAQs
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Yes. Many UK private and workplace pensions can be transferred to NZ, but state pensions cannot. The transfer must go into a registered QROPS (Qualifying Recognised Overseas Pension Scheme), like the Booster Super Scheme.
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QROPS stands for Qualifying Recognised Overseas Pension Scheme. It's a type of superannuation fund approved by HMRC in the UK to receive transfers from UK pensions. Booster offers a registered QROPS that meets these requirements.
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We recommend working with a financial adviser experienced in UK/NZ pension rules such as Compound Wealth. Please reach out to us here and we will be in touch with the next steps.
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It usually takes 3 to 6 months, depending on how quickly your UK provider processes the paperwork.
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Sometimes. If you’ve been outside the UK for less than five full tax years, a 25% Overseas Transfer Charge may apply. NZ tax rules also include a four-year transitional period. We strongly recommend seeking independent tax advice.
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No. KiwiSaver does not meet QROPS rules, so UK pensions cannot be transferred into it.
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You can usually start withdrawing from age 55, in line with UK pension rules. Early withdrawals may be possible in cases like serious illness.
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Moving overseas within five to ten years could affect your tax position and QROPS compliance. You may face tax in your new country, so understanding Double Tax Agreements and local pension rules is essential. Talk to a financial adviser before relocating.
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Your adviser will outline all applicable costs before you commit.
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You can invest in a wide range of options once your UK Pension is transferred to NZ. Your adviser can help you choose based on your risk profile and retirement goals.
