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Pension Advice Please.

Pension Advice Please.

Old Nov 4th 2009, 11:11 pm
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Default Pension Advice Please.

What is the score? As an NZ resident I am lead to believe we are entitled to a full NZ pension come the age irrespective of what we have or have not paid in tax. I further understand the NZ pension dept claw back from UK pensions what we would have got there. Can we/ are we allowed to say 'no' to the NZ pension and take our UK one directly?

Any ideas if you can do this which is likely to pay more money. I am told that if you can and do opt for the UK one you get the same amount until you die as there is not an index linked agreement with NZ that there is in the States.

What does a person get in NZ for a pension..any ideas. All help most grateful..thanking y'all in anticipation.
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Old Nov 4th 2009, 11:43 pm
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Default Re: Pension Advice Please.

Hi Genesis,

I had a look at the Ministry of Social Development web site and the Work and Income NZ site.

There is some info on there regarding pensions.
I was told by the UK pension people that I had the option of taking the UK pension (calculated up until I had left the UK) or opt to continue paying into the UK pension under a provision for overseas UK residents, or draw the NZ pension.

But seriously, I would have a look at the MSD site. I do know a very good finacial advisor here in Wanganui who may be able to help (he is an ex pat as well) PM me for his details if you like.
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Old Nov 4th 2009, 11:53 pm
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Default Re: Pension Advice Please.

Originally Posted by garfield250 View Post
Hi Genesis,

I had a look at the Ministry of Social Development web site and the Work and Income NZ site.

There is some info on there regarding pensions.
I was told by the UK pension people that I had the option of taking the UK pension (calculated up until I had left the UK) or opt to continue paying into the UK pension under a provision for overseas UK residents, or draw the NZ pension.

But seriously, I would have a look at the MSD site. I do know a very good finacial advisor here in Wanganui who may be able to help (he is an ex pat as well) PM me for his details if you like.
Thank you. Will PM you.
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