Pension transfer from UK
#1
Pension transfer from UK
After being here well over 3 years I am looking at what to do with my UK pension fund. Has anyone used Britannia Financial Services to transfer pension funds from UK to NZ. What size cut do these companies take?
Rob
Rob
#2
Re: Pension transfer from UK
Originally Posted by Gill and Rob
After being here well over 3 years I am looking at what to do with my UK pension fund. Has anyone used Britannia Financial Services to transfer pension funds from UK to NZ. What size cut do these companies take?
Rob
Rob
We used britannia for the transferral of my husbands pension fromt he uk to here, i cant remember the cut from them, but they did it quickly and no major issues except for us moving and forgetting to tell him...oops
They did tell us what percentage the cut was and it was reasonable and it was easier for them to do it so we didnt have to worry about it
dawn
#3
Re: Pension transfer from UK
I still pay into my CIS pension in the UK. I hadnt really though what to do about moving it across.... whens the best time to do it?
Also, not a question about pensions.... but... I started up a Trust Fund with the money I got from the government for my son. (I think it was about £250.. my parents add into it every month too for him) I know he cant touch it til hes 18. Will he have to go back to the UK to access the money thats in there?? When I asked them at Abbey before I left they couldnt answer me as it was all so new.
Also, not a question about pensions.... but... I started up a Trust Fund with the money I got from the government for my son. (I think it was about £250.. my parents add into it every month too for him) I know he cant touch it til hes 18. Will he have to go back to the UK to access the money thats in there?? When I asked them at Abbey before I left they couldnt answer me as it was all so new.
#4
Re: Pension transfer from UK
Originally Posted by Gill and Rob
After being here well over 3 years I am looking at what to do with my UK pension fund. Has anyone used Britannia Financial Services to transfer pension funds from UK to NZ. What size cut do these companies take?
Rob
Rob
I've very nearly completed the process of transferring my pension over with Britannia, its been a long 10 months! They took $5000 for their fee, if I remember correctly it was either that or 1%, which ever is the lower of the 2. You can access $5000 straight away then once you have been a resident for 5 years you can access 49% minus the $5000. The rest you can't touch until you're 60. It seems to have been a long process but I didn't hassle them, maybe I should have! Also, Britannia try to sell you their products, ie insurance, which I suppose is to be expected. Hope this all makes sense?