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 with a holistic view of your finances.

The UK taxes pensions on the way out, New Zealand on the way in. These different systems mean transfer to a Qualifying Recognised Overseas Pension Schemes (QROPS) may offer significant tax advantages.

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.

Book a Free Initial Consultation

UK Pension Transfer Process

Book in a 20-minute call with us to discuss your UK Pension, your New Zealand circumstances and your high level tax situation.
We liaise with your UK pension provider to carry out a thorough review of your UK pension. This includes evaluating the options of retaining it in the UK or transferring it to New Zealand, with a full assessment of any tax implications.
If you decide to go ahead with a transfer, we’ll help set you up with a QROPS in New Zealand, handle the paperwork, and follow up with your UK pension provider to ensure the funds are transferred.
We partner with licensed QROPS providers to make sure your pension arrives safely in New Zealand—ready to support your retirement plans.

Book Your Free UK Pension Consultation

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

Yes. Most UK private and workplace pensions can be transferred to NZ. The pensions that cannot be are state pensions and NHS, Teachers, Civil Service and Armed Forces pensions. The transfer must go into a registered QROPS (Qualifying Recognised Overseas Pension Scheme) we help choose the one that right for you
QROPS stands for Qualifying Recognised Overseas Pension Scheme. It's a type of superannuation fund that meets the rules set by HMRC in the UK to receive transfers from UK pensions. The requirements to be a QROPS relate to when and how members can access their funds and making sure these mirror UK rules.
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.
It usually takes 3 to 6 months, depending on how quickly your UK provider processes the paperwork.
Done right there are usually no UK taxes to pay (otherwise you could have a 25% to 55% charge). NZ tax rules mean that if you have been in NZ for longer than four years since accruing the UK pension you may have tax on transferring a pension. We strongly recommend seeking independent tax advice.
No. KiwiSaver does not meet QROPS rules, so UK pensions cannot be transferred into it.
You can usually start withdrawing from age 55, in line with UK pension rules. Early withdrawals may be possible in cases like serious illness.
No. New Zealand superannuation schemes payments to members are tax free, as the funds are considered to have been taxed on the way into the scheme (the contributions do not receive tax relief). This is the opposite of the UK which taxes pension payments.
Moving overseas within five years of your transfer could give rise to UK taxes. You may also face tax in your new country, so understanding Double Tax Agreements and local pension rules is essential. Talk to a financial adviser before relocating.
Your adviser will outline all applicable costs before you commit.
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.