hi everyone

Old Jun 1st 2008, 6:08 pm
  #1  
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Default hi everyone

Hi everyone me and wife are new to this site. so we hope you all are enjoying life in new zealand or soon will be.Well we are in need of advice.
we are coming to new zealand in the next few months on a 3 year work permit and then if we like new zealand try to stay there, so hear is the question ? what do we do about our pension.we are still paying in to it ,do we move it or keep it in the uk.
If we move it do we need help,from who? or can we do it our self.
Hope some one can help because we are
hope I have not gone on to much, by for now.
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Old Jun 2nd 2008, 11:01 am
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Default Re: hi everyone

HI foxy44, welcome to the forum.

Afraid I can't help with your question, but thought I'd bring it back to the top to see if someone else knows the answer, as this would be of interest to us as well!!

Something we hadn't thought about, so thanks for bringing it up

What did everyone else do?
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Old Jun 2nd 2008, 12:11 pm
  #3  
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Default Re: hi everyone

We've left our pension in the UK, no longer contribute to our private pension, but because of the type have too much to loose at present.

If your not 100% sure of where you will be in 3 years, you could consider 'sitting on it' rather than act quickly, it would also give you plenty of time to research companies
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Old Jun 2nd 2008, 4:51 pm
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Default Re: hi everyone

Originally Posted by foxy44 View Post
Hi everyone me and wife are new to this site. so we hope you all are enjoying life in new zealand or soon will be.Well we are in need of advice.
we are coming to new zealand in the next few months on a 3 year work permit and then if we like new zealand try to stay there, so hear is the question ? what do we do about our pension.we are still paying in to it ,do we move it or keep it in the uk.
If we move it do we need help,from who? or can we do it our self.
Hope some one can help because we are
hope I have not gone on to much, by for now.
you can move it to Nz. Be sure to get financial advice, as it needs to be moved into an approved NZ fund, else you stand to pay huge penalty taxes. there are companies who specialise in doing this, but be careful you choose a reputable one. i think the NZ banks may be able to advise as well, but i am not sure. Google "moving uk pensions to NZ" or similar, but I cant guarantee the links will be to good or reputable companies.

you can keep it in teh UK for now i think, until you are sure you want to move it to NZ if you decide to stay there permanently.

NZ has introduced a sort of pension scheme, called Kiwisaver, which in effect works like a private pension scheme works in the UK, with employer and employee contributions etc.
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Old Jun 2nd 2008, 7:57 pm
  #5  
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Default Re: hi everyone

Originally Posted by newkiwi View Post
you can move it to Nz. Be sure to get financial advice, as it needs to be moved into an approved NZ fund, else you stand to pay huge penalty taxes. there are companies who specialise in doing this, but be careful you choose a reputable one. i think the NZ banks may be able to advise as well, but i am not sure. Google "moving uk pensions to NZ" or similar, but I cant guarantee the links will be to good or reputable companies.

you can keep it in teh UK for now i think, until you are sure you want to move it to NZ if you decide to stay there permanently.

NZ has introduced a sort of pension scheme, called Kiwisaver, which in effect works like a private pension scheme works in the UK, with employer and employee contributions etc.
thanks to you all,I will have to got financial advice and hope it saves more money than it costs. thanks again foxy44
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