Happy As1

Hey there....
we've been living in Tauranga for nearly 5 yrs now and we LOVE it...
I have been considering moving mine and my husband's UK teacher's pension for some time and recently took the plunge... thought I should come on here and share this info for other expats....
They are changing the rules in April regarding pensions and people could be caught out paying tax on pensions they hold in the UK here in NZ BEFORE you get them! Scary!
We checked into ours 3 yrs ago and since then the transfer value has rocketed owing to bond prices from the quantitative easing policies in the UK...

We have transferred ours with a lovely chap from the UK who was referred to us by another expat friend of mine. He's a nice chap called Tony from GB Pensions :-) He's based in Akd but he travelled down to Tauranga to see us... he's lovely and there's no pressure, he just gathers the info for you so you can check out the figures.
I'm so glad we did it or we could've been really caught out :-) If anyone needs any help , I'm happy to help if I can :-)

M_and_M

Can you PM me some details? Thx

Robbo25

There's a number of folks doing this, but would also like his details please

BEVS

and without wishing to detract from the above recommendation, don't forget that ChCh4Me is also a pension transfer specialist. He's in Christchurch on the South Island & there have been a couple of BE users who have been very happy with his service also.
Nothing to lose by having the chat. Bit like getting multiple quotes.

I'm not affiliated with either of the above. I moved ours with someone who has never been near BE.

M_and_M

I was advised not to move mine by ppl in the UK, various ppl

scrubbedexpat094

We've not moved ours as we don't know where we will end up.

BEVS

I really wish we hadn't moved ours TBH.

Reylan

Hi Bevs, any particular reason why you wish you hadn't moved them? Hope you don't mind me asking, we are currently considering moving ours.

Frenchy

I was advised to leave mine 7 years ago to. This may seem a bit silly but can't you just get it paid into uk bank and draw slowly?

Robbo25

I recently found out that in NZ tax avoidance and evasion are treated equally as harshly i.e. if they think you are underpaying even within the rules, they are able to come after you and make you pay! May explain why some of the biggest tax avoiders aren't here i.e. Amazon

sarahw

Just to add to that ChCh4Me was really helpful when I had queries around how to calculate the tax owing on our transfers

Pulaski

Sounds like the US's "Alternative Minimum Tax", designed to trap people using too many tax reduction methods (pension contributions, mortgage tax deduction, healthcare account, college savings, etc., ). Originally it was set to catch only the very wealthy, but has not been adjusted for inflation and now bites many in the middle class.