Moved back to UK from NZ and struggling to move pension back?
#1
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Joined: Feb 2023
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Moved back to UK from NZ and struggling to move pension back?
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
Also happy to answer any questions about life in NZ or moving there
#2
Re: Moved back to UK from NZ and struggling to move pension back?
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
Also happy to answer any questions about life in NZ or moving there
#3
Re: Moved back to UK from NZ and struggling to move pension back?
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
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
Last edited by ianandhelena; Feb 9th 2023 at 5:08 am.
#4
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Re: Moved back to UK from NZ and struggling to move pension back?
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.
#5
Re: Moved back to UK from NZ and struggling to move pension back?
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.
If it is a kiwisaver then those funds can be withdrawn but one loses the govts contribution to those funds.
#6
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Re: Moved back to UK from NZ and struggling to move pension back?
That sounds great. Very nice.
#7
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Re: Moved back to UK from NZ and struggling to move pension back?
#8
Re: Moved back to UK from NZ and struggling to move pension back?