Lwood243

Hi, after 15 years in NZ we moved back to the UK in March last year. We moved our pensions to NZ and now need to move them back ( may have been the wrong decision to move them but we thought we'd stay in NZ, COVID put paid to that). We're really struggling to find a pension provider who will take them in the UK. Our other option is to leave them in NZ until we're 55 but given currency volatility we don't really want to do that. Has anyone got experience of moving pensions back to the UK or can suggest someone who can help?
Also happy to answer any questions about life in NZ or moving there

BEVS

You might do better to place this in the Moving Back To the UK forum. There will be folks there that have needed to move private pensions from overseas.

ianandhelena

I think it'll be very difficult to find a UK pension provider willing to accept a transfer:
https://www.moneyhelper.org.uk/en/pe...nother-country

Aegon have an informative page about foreign transfers in, but whether they accept them is anybody's guess:
https://www.aegon.co.uk/support/faq/...nsfers-in.html

durham_lad

We moved back from the USA and left our pension pots there. No way to move them from the USA so it would not surprise me to find that it is the same with most other countries. At issue I think is the fact that pension savings have usually been accumulated tax deferred so moving the funds over means that the country who deferred all the tax are going to lose out.

BEVS

In NZ tax is payable , not deferred.

If it is a kiwisaver then those funds can be withdrawn but one loses the govts contribution to those funds.

durham_lad

So the contributions to the pension plan are after tax meaning that withdrawals are tax free after a certain age or number of years?

That sounds great. Very nice.

SanDiegogirl

Why can't you move them back tot he original company ? Have rules changed in the interim 15 years?

BEVS

Oh yes. I had not read that. Will not be a kiwisaver then. Perhaps UK final salary schemes or the UK private pension schemes.