Do I pay NZ tax on a UK pension
 

Hi there, If we were to come to NZ on a family type visa, would I be taxed by New Zealand on my pensions that I have in the Uk which will be getting paid into a NZ bank account.
Also, at the moment we recieve a yearly index linked increment on our state pension, does this increment cease after we move permanently to NZ.

Any help greatly appreciated and thanks in advance.

Re: Do I pay NZ tax on a UK pension
 

I believe it's yes and yes.

1st four years can be counted as tax free though - certain rules apply not sure what they are though precisely.

Re: Do I pay NZ tax on a UK pension
 

I believe you pay tax on your uk state pension from day one, your occupational or personal pensions you get tax free for the first 4 years. No you dont get your state pension index linked but you do get your £200 heating allowance. There is something about coming back to the UK every two or three years staying 3 months and notifying the pensions office here and they will update your pension to the current one but not sure how this works properly its something we will think more about when we get out to NZ.

You really need to get advice on this from the NZ government site on pensions. I have read some of it but really still dont understand it fully. There appears to be two sections you fall into one for state pension and one for any other pensions which are considered under capital gains and are tax free for the first 4 years for immigrants. You will pay tax on it all after that.

I am sure there are others on here who will know more than me.

Good luck :thumbup:

Re: Do I pay NZ tax on a UK pension
 

Thanks very much for this we really appreciate you taking the time

Re: Do I pay NZ tax on a UK pension
 

Thanks for this

Re: Do I pay NZ tax on a UK pension
 

If you are talking about index linked then I think you will find this will be frozen in time.

PLEASE READ HERE - click the blue type


Here is an Old Thread about pensions . You need to click the blue type.


This is not intended to scare but I think you should look for some independent advice & in particular someone that is familiar with transferring overseas private or occupational pensions plus the impact moving overseas can have on the UK government state pension.

My recommendation would be Commix who are based in Wellington NZ. I can give you details if you wish for further information. Please do be aware though that all these companies are businesses & will be looking for a fee somewhere.

Re: Do I pay NZ tax on a UK pension
 

Thanks for this we appreciate it. Searching the net will keep my hubby out of trouble for a few hours. Regards Ann